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Report No. : |
325750 |
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Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
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Name : |
BISMART SHPS |
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Registered Office : |
Kurdiani Street 11, Flat 112,
Didube-Chughureti District, Tbilisi |
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Country : |
Georgia |
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Date of Incorporation : |
15.01.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of
food products, mainly frozen fish, frozen French fries and oil. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
LARI 25,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Georgia |
B2 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEORGIA - ECONOMIC OVERVIEW
Georgia's main economic activities include cultivation of agricultural
products such as grapes, citrus fruits, and hazelnuts; mining of manganese,
copper, and gold; and producing alcoholic and nonalcoholic beverages, metals,
machinery, and chemicals in small-scale industries. The country imports nearly
all of its needed supplies of natural gas and oil products. It has sizeable
hydropower capacity that now provides most of its energy needs. Georgia has
overcome the chronic energy shortages and gas supply interruptions of the past
by renovating hydropower plants and by increasingly relying on natural gas
imports from Azerbaijan instead of from Russia. Construction of the
Baku-T'bilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline, and the
Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's
strategic location between Europe and Asia and develop its role as a transit
point for gas, oil, and other goods. The expansion of the South Caucasus
pipeline, as part of the Shah Deniz II Southern Gas Corridor project, will
result in a $2 billion foreign investment in Georgia, the largest ever in the
country. Gas from Shah Deniz II is expected to begin flowing in 2019. Georgia's
economy sustained GDP growth of more than 10% in 2006-07, based on strong
inflows of foreign investment and robust government spending. However, GDP
growth slowed following the August 2008 conflict with Russia, and sunk to
negative 4% in 2009 as foreign direct investment and workers' remittances
declined in the wake of the global financial crisis. The economy rebounded in
2010-13, but FDI inflows, the engine of Georgian economic growth prior to the
2008 conflict, have not recovered fully. Unemployment has also remained high.
Georgia has historically suffered from a chronic failure to collect tax
revenues; however, since 2004 the government has simplified the tax code,
improved tax administration, increased tax enforcement, and cracked down on
petty corruption, leading to higher revenues. The country is pinning its hopes
for renewed growth on a determined effort to continue to liberalize the economy
by reducing regulation, taxes, and corruption in order to attract foreign
investment, with a focus on hydropower, agriculture, tourism, and textiles
production. The government has received high marks from the World Bank for its
anti-corruption efforts. Since 2012, the Georgian Dream-led government has
continued the previous administration's low-regulation, low-tax, free market
policies, while modestly increasing social spending, strengthening anti-trust
policy, and amending the labor code to comply with International Labor
Standards. The government published its 2020 Economic Development Strategy in
early 2014 and former Prime Minister Bidzina IVANISHVILI launched the Georgian
Co-Investment Fund, a $6 billion private equity fund that will invest in
tourism, agriculture, logistics, energy, infrastructure, and manufacturing. In
mid-2014, Georgia signed an association agreement with the European Union,
paving the way to free trade and visa-free travel.
|
Source
: CIA |
CO. NAME : BISMART
SHPS (CORRECT)
LTD BESMART (REQUESTED)
Street : Ponichala
Area : Isani-Samgori
District
Town : Tbilisi 0127
Country : Georgia
Mobile : (995 571) 250 001
(Giorgi Gabitashvili) / (995 577) 752 777
E-Mail : giorgi.gabitashvili@menu.ge
/ gaga015@mail.ru
Extended Name : Bismart Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Bismart Ltd
Name Position
1. Besik Rurua
Managing Director
2. Giorgi Gabitashvili
Commercial Director
Total Employees : 10
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
although it is normal accepted practice for international suppliers to deal on
secured terms with Georgian importers.
Opinion on maximum credit: LARI 25,000
Trade risk assessment: Normal
NAME : TBC BANK JSC
Branch : Marjanishvili Street 7
Town : Tbilisi
0102
Telephone: (995 32) 227 2727
Fax : (995 32) 277 2774
Subject also has
an account with :
Bank of Georgia
JSC
Gagarin Street 29A
Tbilisi 0160
Telephone: (995 32)
244 4444
Fax : (995 32) 244 4444
Private companies in Georgia are not required to publish or disclose
balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : US DLRS 480,000 - 2014 – approx
Net Profit : but stated to be 5% of the sales turnover
Financial year ends 31 December.
Date Started : 15
January 2010
History : The
subject company was established in Georgia on 15 January 2010.
ID Code : 400000146
Authorised Capital : LARI 200
Paid-Up Capital : LARI
200
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the following
director and shareholders :
Director
Besik Rurua
(Georgian national
/ Personal No.: 61001021518)
Shareholders Percentage
1. Besik Rurua 34%
(Georgian national / Personal No.:
61001021518)
2. Giorgi Gabitashvili 33%
(Georgian national / Personal No.: 01020003475)
3. Natia Rurua 33%
(Georgian national / Personal No.: 61001001947)
Affiliated companies of the subject company :
Associates
1. Internet Projekts Jorjia ShPS
Sulkhan Tsintsadzi Street 26,
Sadarbazo 2, Sartuli 8, II
block , Flat 2-19
Vake-Saburtalo District
Managing Director: Mushegh
Hakobian
Est.: 16 June 2014
ID Code: 405047998
Sole Shareholder: Meniu Grup
Ltd (C.R. No.: 09382519)
2. Siti ShPS
Sh.Nutsubidzi Street 30, Flat
36
Vake-Saburtalo District
Tbilisi
Managing Director: Besik Rurua
Est.: 2 April 2013
ID Code: 404984460
Sole Shareholder: Besik Rurua
3. Savaneti 99 ShPS
Tbilisi
4. Magi Ltd
The Company is involved in the following activities :
Trading as importers and distributors of food products, mainly frozen
fish, frozen French fries and oil.
NACE Code: 4690
Imports from Belgium, the Netherlands, Norway and Turkey.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Rented premises comprising administrative offices located at the heading
address as well as storage facilities located elsewhere in Tbilisi (see 'Branch
Offices' below).
Kurdiani Street 11, Flat 112
Didube-Chughureti District
Tbilisi
Until 2013 subject’s registered address was located at:
Zedazeni Street 4
Gldani-Nadzaladevi District
Tbilisi 0180
Didi Digomi settlement 3 m/d, 21 Bldg
Vake-Saburtalo District
Tbilisi 0131
You enquired on: LTD BESMART. Please note that the correct name is as per
heading.
The address provided by you: UL ARCHIL KURDIANI 11/12 01-12 GEORGIA is
misspelt and applies to subject’s registered address. Please note that subject's administrative office
address is as per heading.
Interviewed: Giorgi Gabitashvili (Commercial Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.