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Report No. : |
346911 |
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Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TN KOMPANIA SHPS |
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Registered Office : |
Leonidze Street
28, Apartment 3 Rustavi |
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Country : |
Georgia |
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Date of Incorporation : |
18.08.2010 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Trading as importers,
wholesalers and retailers of auto spare parts. |
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No. of Employees : |
Not Available |
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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Maximum Credit Limits : |
LARI 15,000 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
TN COMPANY LTD (Requested)
Street :
Kutaisi Street 36
Area :
Didube District
Town :
Tbilisi
Country :
Georgia
Telephone :
(995 593) 556 677 (Tornike Tkhelidze)
E-Mail :
pt@atp.ge
Extended Name : TN Kompania Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation : TN
Company Ltd
Name Position
1. Tornike
Tkhelidze Managing Director
2. Mrs Irina Chief Accountant
Total Employees :
12
No
complaints have been heard regarding payments from local suppliers or banks.
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.
Opinion on
maximum credit : LARI 15,000 (higher
amounts may be
considered with full fiscal disclosure)
Trade risk
assessment: Above Average
It is normal
accepted practice for international suppliers to deal on secured terms with
Georgian importers.
NAME :
PROCREDIT BANK JSC
Branch :
Al. Kazbegi Avenue 21
Town :
Tbilisi 0160
Telephone : (995 32) 220 2222
Fax :
(995 32) 220 2223
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 : 18 August 2010
History : The subject company was
established in Georgia on 18 August 2010.
ID Code : 416289634
Capital : not given
Shazguduli Pasukhismbgeblobis
Sazagadoeba (limited liability company) ShPS) with the following sole
shareholder:
Tornike
Tkhelidze 100%
(Georgian national
/ Personal No.: 59002008145)
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of auto spare parts.
NACE Code: 4532
Imports from
Poland, Germany, Belgium and the Netherlands.
Subject does not
export, all sales are domestic.
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
one retail outlet located elsewhere in Tbilisi.
Leonidze Street
28, Apartment 3
Rustavi
You enquired on: TN
COMPANY 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.
The address which
you provided: N28 Leonidza
Str Apt N3 Rustovi is misspelt and applies to subject's registered office address.
Please note that subject's administrative office address is as per heading.
Interviewed:
Tornike Tkhelidze (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
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UK Pound |
1 |
Rs.100.28 |
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Euro |
1 |
Rs.71.30 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TRU |
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 |
-- |
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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.