|
Report No. : |
322580 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Tomike Eristavi Street 1, Didube-Chugureti District, Tbilisi 0192 |
|
|
|
|
Country : |
Georgia |
|
|
|
|
Date of Incorporation : |
02.10.1997 |
|
|
|
|
Com. Reg. No.: |
1/4-702 |
|
|
|
|
Legal Form : |
Private Companies |
|
|
|
|
Line of Business : |
Trading as importers, wholesalers and retailers of construction and finishing materials. |
|
|
|
|
No of Employees : |
130 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
Kompania Jaokeni ShPS (Correct)
COMPANY
JAOKENI LTD (Requested)
_____________________________________________________________________
Street : Tomike Eristavi Street 1
Area : Didube-Chugureti District
Town : Tbilisi 0192
Country : Georgia
Telephone : (995 32) 269 9697 ext.105 (Nana Kvachakhia) / Mobile (995
593) 258 535 (Nana Kvachakhia)
Fax : (995 32) 269 3031
E-Mail
:
info@jaokeni.ge / nana@jaokeni.ge
Website : www.jaokeni.ge
Extended
Name : Kompania Jaokeni Shazguduli Pasukhismbgeblobis
Sazagadoeba
English
Translation : Company Jaokeni Ltd
_____________________________________________________________________
Name Position
1. Jemali Jaoshvili Managing Director
2. Nana Kvachakhia Import Manager
Total Employees : 130
_____________________________________________________________________
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for MEDIUM amounts,
although it is normal accepted practice for international suppliers to deal on
secured terms with Georgian importers.
Opinion on maximum credit : LARI 295,000
Trade risk assessment: Normal
_____________________________________________________________________
NAME :
TBC-BANK (TBILISI BUSINESS CENTRE BANK)
Branch :
Chavchavadze Avenue 11
Town :
Tbilisi 0179
Telephone : (995 32) 229 1693
Fax :
(995 32) 229 1693
The
company 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 : LARI
14,796,540 - 2014 - exact
Net Profit : LARI
4,245,533 - 2014 - exact
Financial year ends 31 December.
_____________________________________________________________________
Date Started : 2
October 1997
History :
The subject company was established in Georgia on 2 October 1997.
C.R. No. :
1/4-702
ID Code :
200031241
Capital :
not given
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the
following director and shareholders :
Director
Jemali
Jaoshvili
(Georgian
national / Personal No.: 01023001565)
Shareholders Percentage
1. Jemali
Jaoshvili
50%
(Georgian national / Personal No.:
01023001565)
2. Ioseb Jaoshvili 50%
(Georgian national / Personal No.: 01023001564)
Affiliated companies of the subject company :
Associate
Kompania Jaokeni Motorsi
Eristavi Street 1
Nadzaladevi District
Tbilisi
Managing Director:
Est.: 25 June 2007
ID Code: 200234772
Shareholders:
- Ioseb
Jaoshvili 37.5%
- Jemal
Jaoshvili 37.5%
- Malkhaz
Sheqriladze 25%
_____________________________________________________________________
The Company is involved in the following activities :
Trading as importers, wholesalers and retailers of construction and
finishing materials.
NACE Code: 4690
Imports from Germany, Spain, Italy, China and Ukraine.
Subject does not export, all sales are domestic.
_____________________________________________________________________
The Company has the following facilities :
Owned premises comprising administrative offices, a retail outlet and
storage facilities located at the heading address as well as 4 retail outlets
located elsewhere in Georgia (see 'Branch Offices' below).
_____________________________________________________________________
Tomike Eristavi Street 1
Didube-Chugureti District
Tbilisi 0192
_____________________________________________________________________
1. Retail Outlet “Jaokeni”
Pushkin Street 51
Batumi 6000
2. Retail Outlet “Jaokeni”
Nikea Street 42
Kutaisi 4600
Telephone: (995 43) 123 3220
3. Retail Outlet “Jaokeni”
Davitashvili Street 4
Telavi 2200
4. Retail Outlet “Jaokeni”
Chkondideli Street 10
Senaki 4106
Mobile: (995 591) 194 859
_____________________________________________________________________
You enquired on: COMPANY JAOKENI LTD. Please note that this name applies to an English translation of the
subject’s name. Subject’s correct registered name is as per heading.
Interviewed: Nana Kvachakhia (Import Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.70 |
|
|
1 |
Rs. 98.91 |
|
Euro |
1 |
Rs. 70.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.