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MIRA INFORM REPORT
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Report No. : |
503202 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Temka, III m/d, II Quarter, Building 33,
Apartment 50, Nadzaladevi District, Tbilisi |
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Country : |
Georgia |
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Date of Incorporation : |
15.10.2010 |
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Legal Form : |
limited liability company |
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Line of Business : |
Trading as importers, wholesalers and retailers of detergents, perfume
and cosmetics. |
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No. of Employees : |
35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
LARI 70,000 |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 electricity 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-Tbilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline, and the Baku-Tbilisi-Kars railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit hub for gas, oil, and other goods.
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 the period 2010-17, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment remains persistently high.
The country is pinning its hopes for faster growth on a continued effort to build up infrastructure, enhance support for entrepreneurship, simplify regulations, and improve professional education, in order to attract foreign investment and boost employment, with a focus on transportation projects, hydropower, agriculture, and tourism. Georgia has historically suffered from a chronic failure to collect tax revenues; however, since 2004 the government has simplified the tax code, increased tax enforcement, and cracked down on petty corruption, leading to higher revenues. The government has received high marks from the World Bank for improvements in business transparency. 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. In mid-2014, Georgia concluded an association agreement with the EU, paving the way to free trade and visa-free travel. In 2017, Georgia signed Free Trade Agreement (FTA) with China as part of Tbilisi’s efforts to diversify its economic ties. Georgia is seeking to develop its Black Sea ports to further facilitate East-West trade.
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Source
: CIA |
COMPANY NAME
CO. NAME : Kosmo Jorjia ShPS (Correct)
KOSMO JORJIA SHPS (WERSJA ANG. COSMO GEORGIA
LLC)
(Requested)
COMPANY
ADDRESS
Street : Kerchenskaya
Street 12
Town : Tbilisi 0182
Country : Georgia
Mobiles : (995 571) 187 788 (Georgiy Maisuradze) /
(995 598) 948 786
E-Mail :
masikgia@gmail.com
Trading Style : Cosmo +
Extended Name : Kosmo
Jorjia Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Cosmo Georgia LLC
SENIOR
COMPANY PERSONNEL
Name Position
1. Ludmila Shuriga Managing Director
2. Georgiy Maisuradze Deputy Managing Director
Total Employees : 35
PAYMENTS
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 70,000
Trade risk assessment : Normal
PRINCIPAL BANKER
NAME : BANK OF GEORGIA
JSC
Branch : Gagarin Street
29A
Town : Tbilisi 0160
Telephone: (995 32) 244 4444
Fax : (995 32) 244
4444
FINANCIAL INFORMATION
Private companies in Georgia are not required to publish or disclose
balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : LARI
400,000 - 2016 – exact *
: LARI 3,500,000 - 2017
– exact
: LARI 4,000,000 - 2018
– projected
Net Profit : LARI 21,797 - 2016 – exact *
: LARI 300,000 – 2017 – exact
Value of current contracts : EURO
5,000,000 (as of April 2017)
Total Value of Stock Held : LARI
602,734 (as of April 2017)
* First 9 months of operations (April –
December).
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 15 October 2010
History : The subject company was
established in Georgia on 15 October 2010 and commenced operations in April
2016 as a limited liability company owned by Natela Natelashvili (100%).
In April 2017, subject’s shareholding
structure changed to the present.
ID Code : 400009726
Capital : not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited liability company)
ShPS) with the following director and sole shareholder :
Director
Ludmila Shuriga
(Ukrainian national / Personal No.:
01391001426)
Shareholder Percentage
Georgiy Maisuradze 100%
(Georgian national / Personal No.: 01019015765)
ACTIVITIES
The Company is involved in the
following activities :
Trading as importers, wholesalers and
retailers of detergents, perfume and cosmetics.
Subject’s principal suppliers include: PTF
“Ekmi” OOO (Ukraine), Global Cosmed Group Zoo (Poland), Edgar Zoo (Poland),
Bielenda Zoo and Farmona Zoo.
NACE Code: 4645
Imports from Poland, Ukraine and
Turkey.
Subject does not export, all sales are
domestic.
FACILITIES
The Company has the following
facilities :
Rented premises comprising
administrative offices and storage facilities located at the heading address as
well as 5 retail outlets located elsewhere in Tbilisi (see 'Branch Offices'
below).
REGISTERED OFFICE
Temka, III m/d, II Quarter, Building
33, Apartment 50
Nadzaladevi District
Tbilisi
BRANCH OFFICES
1. Temka, 3rd Microdistrict.
29 Block, Apartment 2
Tbilisi
(owned retail outlet (190 sq. m.) and land (30 sq. m.)
2. City Mall
Gldani-Nadzaladevi District
Tbilisi
3. Isani Mall
Tbilisi
4. Akhmetelis Station
Tbilisi
5. Varketili Station
Tbilisi
SPECIAL NOTES
You enquired on: KOSMO JORJIA SHPS (WERSJA
ANG. COSMO GEORGIA LLC). Please note that subject's correct registered name is
as per heading.
The address which you provided: TEMKA, III M/D, II
QUARTER, BUILDING 33, AP. 50, TBILISI, NADZALADEVI DISTRICT, GRUZJA
applies to subject's registered office address. Please note that subject's
administrative office address is as per heading.
Interviewed: Georgiy Maisuradze (Deputy
Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 92.51 |
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Euro |
1 |
INR 80.59 |
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GEL |
1 |
INR 27.10 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.