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Report No. : |
347166 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Zh. Shartava
Street 35-37, Flat 127 Vake-Saburtalo District Tbilisi |
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Country : |
Georgia |
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Date of Incorporation : |
31.08.2012 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Trading as importers and distributors of rubber insulation materials,
solar systems, air conditioning accessories and balcony flower pots. |
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No. of Employees : |
3 |
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) |
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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 |
Yael ShPS (Correct)
YAEL LTD (Requested)
Street :
Stanislavski Street 116/5
Area :
Tsereteli Avenue
Town :
Tbilisi
Country :
Georgia
Mobile :
(995 599) 537 059 (George Qviloria) / (995 568) 639 933
/ (972 54) 463 1299
(Dviri Vaja)
E-Mail
: dvirvaja@gmail.com /
qviloria@rambler.ru
Website
: www.vidoflex.ge
Extended Name
: Yael Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation : Yael Ltd
Name Position
George
Qviloria Managing Director
Total Employees :
3
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.
Opinion on maximum
credit : LARI 15,000 (higher amounts may be
considered with full fiscal disclosure)
Trade risk
assessment: Normal
It is normal
accepted practice for international suppliers to deal on secured terms with
Georgian importers.
NAME
: TBC BANK JSC
Branch
: Marjanishvili Street 7
Town
: Tbilisi 0102
Telephone :
(995 32) 227 2727
Fax
: (995 32) 277 2774
Subject also has an
account with :
ProCredit Bank JSC
Agmashenebeli
Avenue 154
Tbilisi 0112
Telephone : (995 32) 220 2222
Fax :
(995 32) 225 0580
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 : 31 August 2012
History : The subject company was
established in Georgia on 31 August 2012.
ID Code : 404956277
Authorised Capital
: LARI 100
Paid-Up Capital :
LARI 100
Shazguduli Pasukhismbgeblobis Sazagadoeba
(limited liability company) ShPS) with the following sole shareholder :
Dviri Vaja 100%
(based in Israel)
The Company is
involved in the following activities :
Trading as
importers and distributors of rubber insulation materials, solar systems, air conditioning
accessories and balcony flower pots.
Distributors for
Vidoflex, Amcor, Twitoplast and Greenbo.
NACE Code: 4690
Imports from
Israel.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Administrative
offices and storage facilities located at the heading address as well as one
branch office located elsewhere in Shopping Center “Didube Plaza”.
Zh. Shartava
Street 35-37, Flat 127
Vake-Saburtalo
District
Tbilisi
You enquired on: YAEL
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 provided
by you: UL SHARTAVA 35/37/127 TBILISI GRUZJA is misspelt and applies to subject's registered office address. Please note that
subject's administrative office address is as per heading.
Interviewed:
George Qviloria (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.64.96 |
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UK Pound |
1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.