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Report No. : |
322579 |
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Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
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Name : |
GIORGI-2004 SHPS |
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Registered Office : |
Kakheti Highway 112
Isani-Samgori Tbilisi 0151 |
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Country : |
Georgia |
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Date of Incorporation : |
10.02.2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers,
wholesalers and retailers of building materials, paints and glass. |
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No. of Employee : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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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.
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Source
: CIA |
GIORGI-2004
SHPS (CORRECT)
GIORGI 2004
LTD (REQUESTED)
Street : Railway Cul-De-Sac 20
Area : Isani-Samgori District
Town : Tbilisi 0101
Country : Georgia
Telephone : (995 32) 271 6401 / Mobile (995 599) 168 291 (Nodari Ivanidze)
Fax : (995 32) 271 6401
E-Mail :
giorgii2004@gmail.com
Extended
Name : Giorgi-2004 Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Giorgi-2004 Ltd
Name Position
Malkhaz Ivanidze Managing Director
Total Employees : 50
Unknown
We consider it is acceptable to deal with subject for SMALL amounts, however in view of the lack of financial
information we recommend international suppliers exercise a degree of caution.
Trade risk assessment: Normal
It is normal accepted practice for international
suppliers to deal on secured terms with Georgian importers.
Subject declined to name its bankers.
Private companies in Georgia are not required to
publish or disclose balance sheets. Balance sheets are not available from other
sources, and the subject interviewed declined to give any financial
information, which the company regards as strictly confidential.
Date Started : 10 February 2004
History : The subject company was established in
Georgia on 10 February 2004.
C.R. No. : 7/4-2546
ID Code : 206143047
Capital : not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following director and shareholders :
Director
Malkhazi Ivanidze
(Georgian national / Personal No.: 12001015980)
Shareholders Percentage
1. Malkhazi Ivanidze 25%
(Georgian national / Personal
No.: 12001015980)
2. Emzar Ivanidze 25%
(Georgian national /
Personal No.: 12001008399)
3. Nodari Ivanidze 25%
(Georgian national / Personal No.: 01028000495)
4. Zaza Ivanidze 25%
(Georgian national / Personal No.: 12001012311)
Affiliated
companies of the subject company :
Associates
1. Pazisi ShPS
Kakheti
Qzatketsili, Rkinigzi Chichi 20
Isani-Samgori District
Tbilisi
Managing
Director: Zaza Ivanidze
Est.: 6
April 2000
C.R.No.:
06/4-327
ID Code: 208156412
Shareholders:
- Malkhazi Ivanidze 25%
-
Emzar Ivanidze 25%
- Nodari Ivanidze 25%
- Zaza Ivanidze 25%
2. Lazo ShPS
Il.chavchavadzi Street 37, Flat 15
Kutaisi
Managing Director: Giorgi Dzigrashvili
Est.: 27 August 2012
ID Code: 412686222
Shareholders:
- Zaza Ivanidze 49%
- Irine Inaneishvili 26%
- Giorgi Dzigrashvili 25%
3. Jeosvits ShPS
Khandzteli Street 1
Gldani- Nadzaladevi District
Tbilisi
Est.: 3 November 2009
ID Code: 206346284
Sharehodlers:
- Gurami Garozashvili 34%
- Emzar Ivanidze 33%
- Levani Khotsuashvili 33%
4. Niavi-96 ShPS
Est.: 21 June 1996
ID Code: 208155850
Shareholders:
- Giorgi Koiava 6.66%
- Tamazi Sharashidze 6.66%
- Aleksi Gabunia 3.43%
- Gigla Ghvaladze 3.33%
- Guram Bregadze 3.33%
- Tamaz Kldiashvili 3.33%
- Venedikte Baramidze 3.33%
- Gensi Menteshashvili 3.33%
-
Nodar Mzhavanadze 3.33%
- Zurab Tskvitinidze 3.33%
- Levan Khomeriki 3.33%
- Roman Ichkitidze 3.33%
- Tarieli Tsekvava 3.33%
- Kharion Tsalughelashvili 3.33%
- Davit Kurtsikidze 3.33%
- Amiran Shengelia 3.33%
- Tsitsino Kharkhelauri 3.33%
- Teimuraz Gumberidze 3.33%
- Iotam Jaoshvili 3.33%
- Aneta Kalandadze 3.33%
- Badri Mantskava 3.33%
- Davit Zhvania 3.33%
- Nodari Ivanidze 3.33%
- Ek'at'erine Papiashvili 3.33%
- Aleksandre Kristesiashvili 3.33%
- Nodar Nikoladze 3.33%
- Tamar Khutsishvili 3.33%
- Zurab Meshveliani 1.67%
- Tina Meshveliani 1.67%
The Company is involved in the following activities
:
Trading as importers, wholesalers and retailers of
building materials, paints and glass.
NACE Code: 4690
Subject declined to name the countries from which they import.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Administrative offices located at the heading
address as well as two branch offices located elsewhere in Tbilisi (see 'Branch
Offices' below).
Kakheti Highway 112
Isani-Samgori
Tbilisi 0151
1. Retail Outlet “New Design”
Peking
Avenue 37
Vake-Saburtalo District
Tbilisi
0160
2. Retail Outlet “New Design”
Peking
Avenue 39
Vake-Saburtalo District
Tbilisi
0160
You enquired on: Giorgi 2004 Ltd. Please note that the
correct name is as per heading.
The VAT number given by you: 200031241 is incorrect
and applies to Company Jaokeni ShPS. Please note that
subject’s correct registered number is as per heading.
Interviewed: Nodari Ivanidze (Shareholder).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.95 |
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|
1 |
Rs.98.64 |
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Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.