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Report No. : |
341137 |
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Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
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Name : |
DIO SHPS |
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Registered Office : |
D.
Agmashenebeli Alley 12th km Digomi District Tbilisi 0131 |
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Country : |
Georgia |
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Date of Incorporation : |
13.03.1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers
and distributors of doors, windows and tents. |
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No. of Employees : |
110 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
LARI 100,000 |
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Status : |
Satisfactory |
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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
|
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.
|
Source
: CIA |
Dio ShPS (Correct)
DIO LTD (Requested)
Building :
D. Agmashenebeli Alley 12th km
Area :
Digomi District
Town :
Tbilisi 0131
Country :
Georgia
Telephone :
(995 32) 236 1112 / 233 1199 / 236 6899 / Mobile (995 577) 585 390 (Tamaz Daushvili)
Fax :
(995 32) 236 6899
E-Mail : info@dio.ge / tamuna@dio.ge
Website : www.dio.ge
Trading Style : Dio
Extended Name : Dio Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Dio Ltd
Name
Position
1. Irma Daushvili President
2. Tamaz Daushvili Managing Director
3. Tamara (aka Tamuna) Daushvili Financial
Manager
Total Employees : 110
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
100,000
Trade risk assessment: Normal
NAME : TBC-BANK (TBILISI BUSINESS CENTRE BANK) JSC
Branch : Marzhanishvili Street 7
Town : Tbilisi
Telephone : (995 32) 227 2727
Fax : (995 32) 227 2727
BIC : TBCGE22
Acc. No. : GE72TB1959136080100001
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
BIC : BAGAGE22
Acc. No. : GE93BG0000000122909000
Private companies in Georgia are not
required to publish or disclose balance sheets. However, the subject
interviewed offered the following information :
Sales Turnover :
LARI 5,000,000 – 2014 – approx
: LARI 5,000,000 – 2015 - projected
Net Profit :
LARI 130,700 - 2014 - approx
Financial year ends 31 December.
Date Started : 13 March 1996
History : Subject was established
in Georgia on 13 March 1996.
C.R. No. : N2/4-490
ID Code : 201946573
Authorised Capital : LARI 200
Paid-Up Capital : LARI 200
Shazguduli Pasukhismbgeblobis Sazagadoeba (Limited Liability Company) with the following directors and shareholders :
Directors
1. Irma Daushvili
(Georgian national / Personal No.: 01006000077)
2. Tamaz Daushvili
(Georgian national / Personal No.:
01006003392)
Shareholders
Percentage
1. Irma Daushvili 46%
(Georgian national / Personal No.: 01006000077)
2. Tamaz Daushvili 36%
(Georgian national / Personal No.: 01006003392)
3. Tamara Daushvili 18%
(Georgian national / Personal No.: 01006013543)
Affiliated companies of Dio ShPS
:
Subsidiary
Nunisi ShPS
A. Tsereteli Street 10
Kharagauli 5600
Telephone: (995 32) 247 5202 /
232 9932 / Mobile (995 599) 225 580
Est. : 28 March 2002
C.R. No. : 47/5-ბ-13
Tax No. : 243571997
Trading Style : Nunisi / Samta Nunisi
The Company is involved in the
following activities :
Manufacturers and distributors of
doors, windows and tents.
Subject’s main products include :
- Bioclimatic Pergola;
- Shading System Pergola;
- Glazing systems for tents;
- Umbrellas;
- Sunsails;
- Amwings;
- PVC windows & doors;
- Sun protection architecture
systems;
- External shading systems;
- Barissols;
- Glass enclosed blinds;
- Blinds;
- Mosquito screens;
- Window shutters;
- Garage doors;
- Industrial doors;
- Barrier and door automatic
systems.
Subject also provides
installation services.
NACE Code : 2512
Imports from Germany, Poland,
France, Italy and occasionally from Turkey.
Exports to Armenia and
Azerbaijan.
The Company has the following
facilities :
Owned premises comprising
administrative offices, a manufacturing unit and storage facilities located at
the heading address as well as 3 branch offices located elsewhere in Tbilisi,
Batumi and Kutaisi (see 'Branch Offices' below).
D. Agmashenebeli Alley 12th km
Digomi District
Tbilisi 0131
Formerly subject’s registered address was located at :
Saburtalo Street 55
Vake-Saburtalo District
Tbilisi 0194
1. Tsintsadze 79 (Saburtalo
Street 55)
Tbilisi
Telephone: (995 32) 236 5564 / 236 5568
2. Vakhtang Gorgasali Street 128/134
Batumi
Telephone: (995 422) 222 074 / Mobile (995 577) 555 615
3. Ilia Chavchavadze Street 20
Kutaisi
Telephone: (995 431) 263 300 / Mobile (995 577) 555 616
You enquired on : “DIO 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 : “55 Saburtalo Str, (S Cincadze 79)” is misspelt and applies to subject's former registered office address. Please note that
subject's correct administrative office address is as per heading.
The postal code given by you : “0194” is incorrect and applies to
subject’s previous registered office postal code. Please note that subject’s
correct postal code is as per heading.
Interviewed : Tamara (aka Tamuna)
Daushvili (Financial Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
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UK Pound |
1 |
Rs.102.17 |
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Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.