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Report No. : |
321797 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
OMEGA SHPS |
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Registered Office : |
Tsereteli Street 140, Didube-Chugureti
District, Tbilisi 0119 |
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Country : |
Georgia |
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Date of Incorporation : |
31.12.1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and retailers of all types of household appliances and electronics and also provides installation, warranty, after sale and delivery services |
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No. of Employee : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
LARI 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
OMEGA SHPS (Correct)
OMEGA LTD (Requested)
Street : Tsereteli
Street 140
Area : Didube-Chugureti
District
Town : Tbilisi
0119
Country : Georgia
Telephone: (995 32) 224 4646 / 224 4647 / 226 6646
Fax : (995
32) 295 4090
E-Mail : avto@megatechnica.ge
/ nino@megatechnica.ge / salone@megatechnica.ge
Website : www.megatechnica.ge
Trading Styles :
Megatechnica
Extended Name : Omega
Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Omega
Ltd
Name
Position
1. Nino Gabuniya Managing Director
2. Salone
Abuladze Chief Accountant
Total Employees : 100
No complaints have been
heard regarding payments from local suppliers
or banks.
We consider it is
acceptable to deal with subject for LARGE amounts,
although it is normal
accepted practice for international suppliers
to deal on secured terms
with Georgian importers.
Opinion on maximum credit :
LARI 1,500,000
Trade risk assessment : Normal
NAME : BANK
OF GEORGIA
Branch : Pushkin
Street 3
Town : Tbilisi
0105
Telephone: (995 32) 244 4256
Fax : (995
32) 244 4289
The company also has an account with following banks:
1. TBC Bank JSC
Mshvidoba Street 105a
Tbilisi 0125
Telephone: (995
32) 227 2727
Fax
: (995 32) 227 2727
2. TAO Privat
Bank JSC
114 Tsereteli Avenue
Tbilisi 0164
Telephone: (995
32) 235 0500
Fax
: (995 32) 235 5080
3. Bank Respublika
Grigol Abashidze Street 2
Tbilisi
Telephone: (995
32) 229 2336
Fax
: (995 32) 229 2335
4. Liberty Bank
Chavchavadze Avenue 74
Tbilisi 0162
Telephone: (995
32) 255 5500
Fax
: (995 32) 255 5500
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 21,681,700 - 2010 - exact
: US DLRS 25,000,000 - 2011 – exact
: US DLRS 27,000,000 – 2012 – exact
: US DLRS 33,000,000 – 2013 – exact
: US DLRS 35,000,000 – 2014 – exact
Net Profit :
US DLRS 1,200,000 - 2010 - exact
: not given
- 2011/2012
: US DLRS
1,500,000 – 2013 – exact
: US DLRS
1,650,000 – 2014 – exact
Financial year ends 31
December.
Date Started : 31 December
1996
History : The subject
company was established in Georgia on 31 December 1996 with the following
shareholders : Nana Kervalishvili (50%) and Aleksandr Kikiladze (50%). In 2010
subject’s shareholding structure changed to the following:
- Nana Kervalishvili 50%
(Georgian national / Personal No.
01010006376)
- Tamar Gabrielashvili 50%
(Russian national)
In 2013, subject’s
shareholding structure changed to the following Irina Gudavadze (50%) and Tamar
Gabrielashvili (50%). Later on in 2014, subject’s shareholding structure
changed to the present.
C.R. No. : 5/4-931
ID Code : 211334830
Authorised Capital : US
DLRS 1,000
Paid-Up Capital : US DLRS
1,000
Shazguduli Pasukhismbgeblobis
Sazagadoeba (limited liability
company) with the following
director and shareholders :
Nino Gabuniya
(Georgian national /
Personal No. 01017009272)
Shareholders Percentage
1. Irina Gudavadze 50%
(Russian national / Personal No. 45 80
215087, 71No.3059364)
2. Grigori Gudavadze 50%
(Russian national / Personal No. 72 3799113)
The Company is involved in
the following activities :
Trading as importers,
wholesalers and retailers of all types of household appliances and electronics.
Subject also provides
installation, warranty, after sale and delivery services.
NACE Code : 4652 / 4643 /
4754
Imports worldwide mainly
from Turkey, Thailand, Poland, China and UAE.
Re-exporters to Azerbaijan.
Subject is an official
distributor for Philips, Zanussi, Toshiba,
Hitachi, Simfer,
MasterCook, Aux, Hisense and Sony.
Brands sold: JVC, Sony, Lg,
Samsung, Sharp, Toshiba, Hitachi, Panasonic, Philips, Yamaha, Bosch, Siemens,
Zanussi, Electrolux, Indesit and Daewoo.
Subject gas Quality
Management certificate ISO 9001-2000 from British
company Global
Certification.
The Company has the following
facilities :
Rented premises comprising
administrative offices, a retail outlet and storage facilities located at the
heading address as well as 5 retail outlets located elsewhere in Tbilisi and 2
retail outlets located elsewhere in Kutaisi and Rustavi (see 'Branch Offices'
below).
Subject has 10 retail
outlets which operate under a franchise agreement located throughout Georgia
Zestafoni, Zugdidi, Rustavi, Batumi, Telavi, Khashuri, Gori, Akhaltsikhe and
Samtredia.
Until 1 November 2011
subject was located at :
Marzhanishvili Street 16
Tbilisi 0102
Pekini Street 11
Vake-Saburtalo District
Tbilisi 0171
1. Retail Outlet
“Megatechnica”
Railway Square 2
Didube-Chugureti District
Tbilisi 0112
2. Retail Outlet
“Megatechnica”
Tsereteli Avenue 140
Didube-Chugureti District
Tbilisi 0119
3. Retail Outlet
“Megatechnica”
A. Kereselidze Street 12
Didube-Chugureti District
Tbilsi 0154
4. Retail
Outlet “Megatechnica”
Khizanishvili Street 17
Gldani-Nadzaladevi District
Tbilisi 0167
5. Retail Outlet
“Megatechnica”
Vazha-Pashavela Avenue 39
Vake-Saburtalo District
Tbilisi 0177
6. Retail Outlet
“Megatechnica”
I. Chavchavadze Avenue 37
Vake-Saburtalo District
Tbilisi 0179
7. Retail Outlet
“Megatechnica”
Z. Chavchavadze Street 67B
Kutaisi 4600
Telephone: (995 43) 123 0234
8. Retail Outlet
“Megatechnica”
Shartava Avenue 19
Rustavi 3700
The address provided by you: PEKINI AVENUE
11, 0171 TBILISI applies to subject's registered
office address. Please note that
subject's operational office address is as per
heading.
Interviewed : Nino Gabuniya
(Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.69 |
|
|
1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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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 |
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-- |
NB |
New Business |
-- |
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.