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MIRA INFORM REPORT
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Report No. : |
515968 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
PEIDAL JORJIA SHPS |
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Registered Office : |
Imereti Street
43, Khashuri 5700 |
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Country : |
Georgia |
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Date of Incorporation : |
07.07.2014 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
importers, wholesalers and retailers of paints, varnishes and working tools. |
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No. of Employees : |
38 |
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 40,000 |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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, remittances, 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, tourism, hydropower, and agriculture. Georgia had 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 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
PEIDAL JORJIA SHPS (CORRECT)
FEIDAL
GEORGIA (REQUESTED)
ADDRESS
Street : Mitskevich
Street 25B
Area : Saburtalo
District
Town : Tbilisi
0171
Country : Georgia
Telephone : (995
32) 243 3010 / Mobile (995 599) 111 817 (Managing
Director) / (995 557) 508 377
(Ms.Mari)
Fax : (995
32) 243 3010
E-Mail
: feidalgeorgiaofficial@gmail.com
Website
: www.feidal.ge
Extended Name : Peidal Jorjia Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Feidal Georgia Ltd
SENIOR
COMPANY PERSONNEL
Name Position
1. Tengiz
Khochava Managing Director
2. Ms.Mari Accountant
Total Employees : 38
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,
however in view of the lack of financial information we recommend international
suppliers exercise a degree of caution.
Opinion on maximum credit: LARI 40,000 (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.
PRINCIPAL BANKER
NAME
: TERABANK JSC
Branch
: Ketevan Tsamebuli Avenue
3
Town
: Tbilisi 0103
Telephone: (995
32) 255 0000
Fax
: (995 32) 255 0000
FINANCIAL INFORMATION
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.
LEGAL STATUS AND HISTORY
Date Started : 7 July 2014
History : The subject company was
established in Khashuri on 7 July 2014.
ID Code : 443859460
Authorised Capital
: LARI 100
Paid-Up Capital : LARI 100
Shazguduli Pasukhismbgeblobis Sazagadoeba
(limited liability company) ShPS) with the following director and shareholders:
Director
Tengiz Khochava
(Georgian national
/ Personal No.: 01007002356)
Shareholders
Percentage
1. Tengiz Khochava 50%
(Georgian national / Personal No.: 01007002356)
2. Levan
Gagvishvili 50%
(Georgian national / Personal No.:
01024023770)
Affiliated
companies of the subject company :
Associates
1. Kartli Hausi
ShPS
Saburtalo Street 7, Apartment 49
Vake–Saburtalo District
Tbilisi
Managing Director: Tengiz Khochava
Est.: 20/10/2004
C.R. No.: 5/4-4279
ID Code: 205044021
Shareholders:
- Tengiz Khochava 25%
- Levan Gagvishvili 25%
- Aleksandre Amashukeli 25%
- Otari Dabrundashvili 25%
2. Arkadia
Promousheni ShPS
Dutu Megreli Street 1
Dzveli Tbilisi District
Managing Director: Tengiz Khochava
Est.: 14/06/2013
ID Code: 404449307
Shareholders:
- Arkadia Jgupi ShPS 34%
ID Code: 404382244
- Levan Gagvishvili 33%
- Aleksandre Amashukeli 33%
3. Premier
Promotion ShPS
Tbilisi
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of paints, varnishes and working tools.
NACE Code: 4613
Imports from
Germany, Belgium and Poland.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Rented premises comprising
administrative offices, a retail outlet unit and storage facilities located at
the heading address as well as 2 retail outlets located elsewhere in Tbilisi.
REGISTERED OFFICE
Imereti Street 43
Khashuri 5700
SPECIAL NOTES
You enquired on: FEIDAL
GEORGIA. Please note that the correct name is as per heading.
The telephone /
fax number which you provided: 995 32 2300000 is incorrect. Please note that
subject's correct telephone, fax and mobile numbers are as per heading.
Interviewed: Tengiz
Khochava (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 67.77 |
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1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
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GEL |
1 |
INR 27.70 |
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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PRI |
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Report Prepared
by : |
SYL |
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
·
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.