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Report No. : |
340643 |
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Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
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Name : |
B.M. HAUS SHPS |
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Registered Office : |
Tskneti Highway 54, Building No. 12, Office
No. 1, Vake-Saburtalo District, Tbilisi 0177 |
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Country : |
Georgia |
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Date of Incorporation : |
10.02.2015 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and retailers of building materials including laminated floorings, parquet, decking boards, floor sanding, varnish, glue, floor recovering, care products and accessories. |
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No. of Employees : |
6 (Subject) 27 (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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.
|
Source
: CIA |
In absence of financials, no credit limit could be recommended.
B.M. HAUS SHPS
(Correct)
BM HOUSE LLC (Requested)
Street
: Tskneti Highway 54, Building No. 12, Office No. 1
Area
: Bagebi village
Town
: Tbilisi 0162
Country
: Georgia
Telephone: (995 32) 223 8686 / 272 6797 /
Mobiles (995 597) 799 787 (Kakhaber Khukkunaishvili)/ (995 571) 420 079 / (995
790) 799 799
Fax
: (995 32) 223 8686
E-Mail
: parkett.ge@gmail.com / eradzeirma@gmail.com
Extended Name : B.M. Haus Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation : B.M. House Ltd
Also Known As : ShPS B.M. Haus
Name Position
1. Irma Iradze Managing Director
2. Kakhaber Khukkunaishvili Executive
Director
Total Employees : 6
(subject)
27 (group)
No trade experience of payments is available.
Subject is a newly established company
incorporated on 10 February 2015.
Opinion on maximum credit : As the company
has recently been established and has no financial or payment track record, we
recommend dealing on fully secured terms.
Trade risk assessment: High
It is normal accepted practice for
international suppliers to deal on secured terms with Georgian importers.
NAME
: TBC-BANK (TBILISI
BUSINESS CENTRE BANK) JSC
Branch
: Marzhanishvili Street
7
Town
: Tbilisi 0114
Telephone :
(995 32) 227 2727
Fax
: (995 32) 227 2727
Subject also has an account with:
VTB Bank (Georgia) JSC
G. Chanturia Street 14
Tbilisi 0114
Telephone :
(995 32) 224 2424 / 250 5505
Fax
: (995 32) 293 3291
As the subject has only recently started
trading, relevant financial information is not available. However, the subject
interviewed offered the following information :
Sales turnover :
LARI 600,000 – 2015 – exact *
: EURO
240,000 – 2015 - projected
Net profit : LARI 80,000 – 2015 – exact *
Value of Current Contracts : EURO 250,000 (as of September 2015)
Total Value of Stock Held : EURO 200,000 (as of September 2015)
Total Invested Capital : EURO 500,000 (as of September
2015)
* First 8 months of operations (February -
September).
Financial year ends 31 December.
Date Started : 10 February 2015
History : Subject was established in Georgia
on 10 February 2015.
ID Code : 405083886
Authorised Capital : LARI 400
Paid-Up Capital : LARI 400
Shazguduli Pasukhismbgeblobis Sazagadoeba
(Limited Liability Company) with the following sole shareholder :
Irma Iradze
100% (Georgian national / Personal No.: 01021014624)
As a matter of interest Mrs Irma Iradze’s
husband Kakhaber Khukkunaishvili has interest in the following company:
B.M. Group ShPS
Tbilisi
Est. : 13 June 2008
ID Code : 205256685
The Company is involved in the following
activities :
Trading as importers and retailers of
building materials including laminated floorings, parquet, decking boards,
floor sanding, varnish, glue, floor recovering, care products and accessories.
Subject also provides maintenance and repair
services.
Subject’s main suppliers:
- Egger (Germany);
- Panaget (France);
- Pedross (Italy).
Subject is a distributor for :
- Coswick;
- EGGER;
- Krono Swiss;
- Baltic Wood;
- Kaindl;
- Berry Floor;
- Panaget;
- OSMO;
- Granorte;
- Parador;
- Decora;
- TIS;
- Sentai WPC;
- Wezalit;
- Carver;
- Pedross;
- BOEN;
- Magnum.
NACE Codes : 4613 / 4752
Imports from China, Portugal, Ukraine,
Germany, Switzerland, Italy, Sweden, Belarus, Turkey, France, Poland and Austria.
Exports occasionally to Armenia and Ukraine.
The Company has the following facilities :
Owned premises comprising administrative
offices and storage facilities located at the heading address.
Tskneti Highway 54, Building No. 12, Office
No. 1
Vake-Saburtalo District
Tbilisi 0177
This amended report is sent as a replacement
of our previous report Ref: 758206.01.C.TYN.X / dated 21/09/2015.
You enquired on: “BM HOUSE LLC” is incorrect.
Subject’s correct registered name is as per heading.
The address which you provided: “Ul Tskneti
Highway 54, 0162 Tbilisi Gruzia” is misspelt. Please note that subject's
administrative office address is as per heading.
Interviewed : Kakhaber Khukhunaishvili
(Executive Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
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|
1 |
Rs.99.17 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared by
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NIT |
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.