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MIRA INFORM REPORT
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Report No. : |
497430 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
LAVS SHPS |
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Registered Office : |
Qandaura Village,
Sagarejo District 3812 |
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Country : |
Georgia |
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Date of Incorporation : |
09.01.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
importers, wholesalers and retailers of furniture and décor materials. |
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No. of Employees : |
5 |
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 Limits : |
LARI 18,000 |
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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
LAVS SHPS (CORRECT)
LAVS LTD
(REQUESTED)
ADDRESS
Street : Agmashenebeli Alley 3km
Area : Digomi District
Town : Tbilisi 0131
Country : Georgia
Mobile : (995 596) 501 818 (Chief Accountant) /
(995 571) 128 399 / (380 096) 733 7368
E-Mail
: dolcerosa@gmail.com
Extended Name
: Lavs Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Lavs Ltd
SENIOR
COMPANY PERSONNEL
Name Position
1. Svetlana
Vilgemska-Lisiuki Managing Director
2. Nino
Reglava Chief Accountant
Total Employees: 5
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 18,000
Trade risk assessment: Normal
PRINCIPAL BANKERS
NAME
: TBC BANK JSC
Branch
: Marjanishvili Street 7
Town
: Tbilisi 0102
Telephone: (995 32) 227 2727
Fax
: (995 32) 227 2727
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 900,000 - 2017 -
exact
: LARI 1,000,000 - 2018 – projected
Net Profit :
Not given but stated to be 25% of the sales turnover
Financial year
ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 9
January 2013
History : The
subject company was established in Sagarejo on 9 January 2013.
ID Code :
438108600
Authorised Capital
: LARI 50,000
Paid-Up Capital :
LARI 50,000
Shazguduli Pasukhismbgeblobis Sazagadoeba
(limited liability company) ShPS) with the following director and sole
shareholder :
DIRECTOR
Svetlana
Vilgemska-Lisiuki
(Ukrainian
national / Personal No.: 2464615820, EK873091, FG668129)
Shareholder Percentage
Svetlana
Vilgemska-Lisiuki 100%
(Ukrainian
national / Personal No.: 2464615820,
EK873091, FG668129)
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of furniture and décor materials.
NACE Code: 4615
Imports from USA,
Poland, China and Ukraine.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Rented premises
comprising administrative offices, a retail outlet and storage facilities
located at the heading address.
REGISTERED OFFICE
Qandaura Village
Sagarejo District
3812
SPECIAL NOTE
The enquired on: LAVS 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: VILLAGE KANDAURA, 3812 SAGAREDJOS REGION,
KAKHETI applies to subject's registered office address. Please note that
subject's administrative office address is as per heading.
Interviewed: Nino Reglava (Chief Accountant).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.87 |
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1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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GEL |
1 |
INR 26.61 |
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 : |
NIT |
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
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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.