|
|
|
MIRA INFORM REPORT
|
Report No. : |
485618 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BESTI JGUPI SHPS |
|
|
|
|
Registered Office : |
Village Gldani, Surrounding of White Lake,
Gldani-Nadzaladevi District Tbilisi 0153 |
|
|
|
|
Country : |
Georgia |
|
|
|
|
Date of Incorporation : |
01.11.2012 |
|
|
|
|
Legal Form : |
(Limited Liability Company) ShPS) |
|
|
|
|
Line of Business : |
· Building contractors. · Providers of engineering services. · Trading as importers and distributors of industrial flooring. |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limits : |
LARI 106,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Georgia |
C1 |
C1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 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 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 2010-16, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment has also remained high.
The country is pinning its hopes for renewed growth on a continued effort 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. 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. Georgia plans to improve the domestic investment environment through a four-year economic plan targeting the tax system, educational standards, infrastructure, and governance. 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 signed an association agreement with the EU, paving the way to free trade and visa-free travel. Georgia is also seeking to expand trade with China, concluding substantive negotiations on a trade agreement in October 2016.
|
Source
: CIA |
COMPANY NAME
BESTI
JGUPI SHPS (CORRECT)
BESTI GROUP
LTD (BEST GROUP) LTD (REQUESTED)
ADDRESS
Street :
Village Gldani, Surrounding of White Lake
Area :
Gldani-Nadzaladevi District
Town :
Tbilisi 0153
Country :
Georgia
Telephone :
(995 32) 242 4411 / Mobile (995 559) 518 0909 (Malkhaz Kokhreidze)
Fax :
(995 32) 242 1444
E-Mail :
info@bestgroup.ge
Website :
www.bestgroup.ge
Trading
Style : Best Group
Extended Name
: Besti Jgupi Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Besti Group Ltd
SENIOR
COMPANY PERSONNEL
Name Position
Malkhaz
Kokhreidze Managing Director
Total Employees: 80
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 106,000
Trade risk
assessment: Normal
PRINCIPAL
BANKER
NAME : PROCREDIT BANK JSC
Branch : Agmashenebeli Avenue 154
Town : Tbilisi 0112
Telephone:
(995 32) 220 2222
Fax : (995 32) 225 0580
Acc. No. :
GE36PC0133600100060691
SWIFT
Code: MIBGGE22
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 2,500,000 - 2014 - exact
: LARI 3,300,000 - 2015 – exact
: LARI 4,200,000 - 2016 – exact
: LARI 5,300,000 – 2017 – exact
: LARI 6,000,000 – 2018 – projected
Net
Profit : Not given but stated to be 8% of the
sales turnover
Financial
year ends 31 December.
LEGAL
STATUS AND HISTORY
Date
Started : 1 November 2012
History : The
subject company was established in Tbilisi on 1 November 2012.
ID Code :
404962634
Authorised Capital : LARI 540,000
Paid-Up Capital : LARI 540,000
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the
following director and shareholders :
Director
Malkhaz
Kokhreidze
(Georgian
national / Personal No. 61003002356)
Shareholders Percentage
1. Zuri
Kiladze
33.40%
(Georgian national / Personal No.
61001007950)
2. Malkhaz
Kokhreidze 33.30%
(Georgian national / Personal No.
61003002356)
3. Mindia
Kokhreidze 33.30%
(Georgian national / Personal No.
61003000967)
Affiliated
company of the subject company :
Associate
Best
Invest ShPS
Tbilisi
ACTIVITIES
The
Company is involved in the following activities :
Building
contractors.
Providers
of engineering services.
Trading as
importers and distributors of industrial flooring.
NACE Code:
4299
Imports
from Poland, Turkey and Sweden.
Subject
does not export, all sales are domestic.
FACILITIES
The
Company has the following facilities :
Owned premises
comprising administrative offices and storage facilities located at the heading
address as well as a branch office located elsewhere in Tbilisi (see 'Branch
Offices' below).
REGISTERED
OFFICE
Village
Gldani, Surrounding of White Lake
Gldani-Nadzaladevi
District
Tbilisi
0153
Until
2015, subject’s registered address was located at :
Nustubidze
Plateau 29/9,
Tbilisi
0183
BRANCH
OFFICES
Tsagareli
Street 69
Vake-Saburtalo
District
Tbilisi
0194
GENERAL
INFORMATION
According
to our there is a company in Georgia with similar name, namely:
Best Group
Ltd
Khevsurete
Street 6
Gldani-Nadzaladevi
District
Tbilisi
Managing
Director: Davit Maisuradze
Est.: 21
October 2014
ID Code:
400129464
Sole
Shareholder: Davit Maisuradze
Please note
that the above company has no affiliation to the subject company.
SPECIAL
NOTES
You
enquired on: BEST GROUP LTD (BESTI GROUP LTD). Please note that the correct
name is as per heading.
The
Reg. No. which you provided: 19504/651 was not verified. Please note that the
correct tax number is as per heading.
Interviewed:
Malkhaz Kokhreidze (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
GEL |
1 |
INR 24.84 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.