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Report No. : |
349413 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
POLONIA SHPS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.08.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers,
wholesalers and distributors of beauty accessories such as brushes and other
articles used for the applications of makeup and manicure & perdicure. |
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No. of Employee : |
6 |
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 Limit : |
LARI 14,000 |
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Status : |
Moderate |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
POLONIA SHPS (CORRECT)
POLONIA LTD (REQUESTED)
Street :
Peking Avenue 14
Area :
Vake-Saburtalo District
Town :
Tbilisi 0171
Country :
Georgia
Telephone : (995 32) 238 8837 / Mobile (995 599) 170 092 (Davit Domianidze)
Fax : (995 32) 238 8837
E-Mail : polonia.geo@gmail.com / info@polonia.ge
Website : www.polonia.ge
Extended Name :
Polonia Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation : Polonia LLC
Name Position
1. Davit Domianidze Managing
Director
2. Levan Abdushelishvili Marketing
Manager
3. Khatuna Gogoladze Financial
Manager
Total Employees : 6
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 14,000
Trade risk assessment:
Normal
NAME :
TBC-Bank (Tbilisi Business Centre Bank) JSC
Branch :
Marzhanishvili Street 7
Town : Tbilisi 0125
Telephone : (995 32) 272 727
Fax :
(995 32) 272 727
Subject also has an account with
:
Bank of Georgia JSC
Gagarin Street 29A
Tbilisi 0105
Telephone: (995 32) 244 4256
Fax : (995 32) 244 4289
Balance sheets as at 31 December
2014 showed :
31/12/2014
(in
LARI)
Gross income 346,963.99
During the reporting period,
the beginning of the Commodity –
Material Values 40,468.70
By the end of the reporting
period,
the Commodity – Material Values 40,105.72
Deductions, including : 324,248.29
commodity - Material Values 149,115.74
electricity, gas, water 1,056.61
salaries 72,956.25
The credit (loan) paid or payable
% 13,337.90
Depreciation expenses 2,865.57
Other deductions (restoration
costs) 84,916.22
Deductions in excess of gross
income 22,352.70
Taxable profit 22,352.70
Profit tax 3,352.91
Profit tax owed 3,352.00
Earnings goods / services
delivery 22,352.70
Accrued salary 72,956.25
Equity 45,724.09
Financial year ends 31 December.
Sales Turnover : LARI 200,673 - 2012 – exact
: LARI 343,912 - 2013 – exact
: LARI 415,257 - 2014 – exact
: LARI 510,000 - 2015 - projected
Net Profit : LARI
22,352 - 2014 – exact
: LARI
32,000 - 2015 – projected
Value of Current Contracts : LARI 201,413 (as of November 2015)
Total Value of Stock Held : LARI 41,600 (as of November 2015)
Total Invested Capital : LARI
59,429 (as of November 2015)
Financial year ends 31 December.
Date Started : 27 February 2008
History : Subject was established in Georgia on 27
February 2008.
ID Code : 204549453
Authorised Capital : LARI 1,000
Paid-Up Capital : LARI 1,000
Shazguduli Pasukhismbgeblobis Sazagadoeba (Limited
Liability Company) ShPS) with the following director and shareholders :
Director
Davit Domianidze
(Georgian national / Personal No.: 01008007891)
Shareholders
Percentage
1. Davit Domianidze 51%
(Georgian national / Personal No.: 01008007891)
2. Levan Abdushelishvili 49%
(Georgian national /
Personal No.: 01024043897)
The Company is involved in the
following activities :
Trading as importers, wholesalers
and distributors of beauty accessories such as brushes and other articles used
for the applications of makeup and manicure & perdicure.
Distributors for :
- Inter-Vion (Poland);
- Killys;
- Beauty Line;
- Pretty Woman;
- Optim‘Hom;
- France Mary;
- Disney;
- Elefant;
- Beauty Look.
Subject’s main client :
Carrefour Georgia (MAF
Hypermarkets Georgia LLC)
Territory of Digomi Educational
& Experimental Farm
Tbilisi 0131
ID Code : 404923749
Subject’s main supplier :
Inter-Vion S.A.
Piaskowa Street 152/160
Warsaw
Poland
Telephone: (48 22) 610 6370 /
Mobile (48 668) 813 478 (Veronika
Stanek)
Fax : (48 22) 610 8586
NACE Code : 4690
Imports from Poland.
Subject does not export, all
sales are domestic.
The Company has the following
facilities :
110 sq. m. owned premises comprising administrative offices and storage facilities
located at the heading address.
Barnovi Street 80, Flat
No. 18
Old Tbilisi District
Tbilisi 0179
You enquired on :
“POLONIA LTD”. Please note that the correct name is as per heading.
The address given by you :
“Ul Barnov 80, Gruzja” is misspelt and applies to subject's registered office
address. Please note that subject’s correct administrative office address is as
per heading.
The postal code number given by
you : “0179” applies to subject’s registered office postal code number.
Subject’s correct postal code number is as per heading.
Interviewed : Davit Domianidze
(Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.18 |
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1 |
Rs.100.11 |
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Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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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 |
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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.