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MIRA INFORM REPORT
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Report No. : |
493868 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
KOMPETENT SHPS |
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Registered Office : |
Lvovi Street 80-82,
Vake-Saburtalo District Tbilisi 0161
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Country : |
Georgia |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
04.10.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The company is involved in the following
activities: Trading as
importers and distributors of building materials. |
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No. of Employees : |
10 |
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 15,000 |
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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 REPORT
CO. NAME : KOMPETENT
SHPS (CORRECT)
OOO
KOMPETENT (REQUESTED)
ADDRESS
Street : Lvovi Street 80-82
Area : Vake-Saburtalo District
Town : Tbilisi 0161
Country : Georgia
Mobile : (995 599) 553 545 (Managing Director)
E-Mail
: g.kakhidze@yahoo.com
Extended Name
: Kompetent Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Kompetent Ltd
SENIOR
COMPANY PERSONNEL
Name Position
1. Davit
Chaduneli Managing
Director
2. Giorgi
Kakhidze Import Manager
Total Employees :
10
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 15,000
Trade risk
assessment: Normal
PRINCIPAL BANKERS
NAME
: BANK OF GEORGIA JSC
Branch
: Gagarin Street 29A
Town
: Tbilisi 0160
Telephone:
(995 32) 244 4444
Fax
: (995 32) 244 4444
The company also has an account with :
TBC Bank JSC
Marjanishvili Street 7
Tbilisi 0102
Telephone: (995 32) 227 2727
Fax
: (995 32) 277 2774
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 620,000 - 2016 -
exact
: LARI
720,000 - 2017 - exact
: LARI 1,000,000 - 2018 - projected
Net Profit :
Not given but stated to be 15-18% of the sales turnover
Financial year
ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 4
October 2012
History : The subject
company was established in Tbilisi on 4 October 2012.
ID Code :
443856016
Capital : not
given
Shazguduli Pasukhismbgeblobis Sazagadoeba
(Limited Liability Company) ShPS) with the following director and sole
shareholder :
Director
Davit Chaduneli
(Georgian national
/ Personal No.: 57001049366)
Shareholder Percentage
Davit
Chaduneli 100%
(Georgian national
/ Personal No.: 57001049366)
ACTIVITIES
The company is
involved in the following activities:
Trading as
importers and distributors of building materials.
NACE Code: 4613
Imports from
Germany and the Netherlands.
Subject does not
export, all sales are domestic.
Subject’s principal
supplier is Bolton Group (the Netherlands).
FACILITIES
The Company has
the following facilities :
Rented premises
comprising administrative offices and storage facilities located at the heading
address.
REGISTERED OFFICE
Lvovi Street 80-82
Vake-Saburtalo
District
Tbilisi 0161
SPECIAL NOTE
You enquired on:
OOO KOMPETENT. Please note that the correct name is as per heading.
The postal address
which you provided: 02161 is incorrect. Please note that subject’s
administrative office PO Box number is as per heading.
Interviewed:
Giorgi Kakhidze (Import Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.10 |
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1 |
INR 90.45 |
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Euro |
1 |
INR 79.59 |
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GEL [LARI] |
1 |
INR 26.40 |
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 : |
TPT |
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
·
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.