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MIRA INFORM REPORT
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Report No. : |
509326 |
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Report Date : |
17.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GEOKA LLC |
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Registered Office : |
Apartment 10, Akaki Tseretli Avenue, Building 2, Didube District, Tbilisi 0154 |
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Country : |
Georgia |
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Date of Incorporation : |
12.12.2017 |
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Com. Reg. No.: |
402070110 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as Importers and Distributors of Detergents and Perfume. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 and Summary
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COMMERCIAL
NAME |
GEOKA
LLC |
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OFFICE |
Apartment
10 |
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STREET |
Akaki
Tseretlis Avenue, Building 2 Didube
District |
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AREA |
-- |
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P.O.
BOX |
0154 |
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TOWN |
Tbilisi |
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COUNTRY |
Geogia |
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TELEPHONE |
Mobile (995
599) 328 504 |
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Mobile (995
555) 535 857 |
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E-MAIL |
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ACTIVITIES |
Trading
as importers and distributors of detergents and perfume. |
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EXECUTIVE |
Nino
Basharuli |
Managing
Director |
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WORKFORCE |
3 |
15/05/2018 |
subject |
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INCORPORATION
DATE |
12/12/2017 |
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ESTABLISHED
YEAR |
2017 |
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MAIN
REGISTRATION NO. |
402070110 |
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LEGAL
FORM |
Limited
Liability Company |
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STATUS |
Active |
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REGISTERED
CAPITAL |
USD |
10000 |
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CREDIT
OPINION |
Subject
is a newly-established business incorporated on 12 December 2017. As the subject has recently commenced
operations and has no financial or payment track record, we recommend dealing
on fully secured terms. |
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IDENTIFICATION
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COMMERCIAL
NAME |
GEOKA
LLC |
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ALSO KNOWN AS |
GEOKA SHPS
/ GEOKA LTD |
PRINCIPAL
PLACE OF BUSINESS
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OFFICE |
Apartment
10 |
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STREET |
Akaki
Tseretlis Avenue, Building 2 |
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AREA |
Didube
District |
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P.O.
BOX |
0154 |
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TOWN |
Tbilisi |
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COUNTRY |
Geogia |
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COUNTRY CODE |
GE |
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TELEPHONE |
Mobile (995
599) 328 504 Mobile
(995 555) 535
857 |
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E-MAIL |
nina20121982@yahoo.com |
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PREMISES
DESCRIPTION |
Administrative
Office |
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TYPE
OF OCCUPATION |
Owned |
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REGISTERED
OFFICE |
Apartment
10, Akaki Tseretli Avenue, Building 2,
Didube District, Tbilisi 0154, Georgia |
LEGAL
DATA
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ESTABLISHED
YEAR |
2017 |
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INCORPORATION
DATE |
12/12/2017 |
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MAIN
REGISTRATION NO. |
402070110 |
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C.R.
NO. |
402070110 |
REGISTERED
AT |
The
National Agency of Public Registry |
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TAX
NO. |
402070110 |
REGISTERED
AT |
The
National Agency of Public Registry |
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REGISTRATION
PLACE |
Tbilisi |
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REGISTERED
CAPITAL |
USD |
10000 |
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PAID-UP
CAPITAL |
USD |
10000 |
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LEGAL
FORM |
Limited
Liability Company |
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OWNERSHIP
TYPE |
Private |
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STATUS |
Active |
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STATUS
DATE |
15/05/2018 |
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BOARD
MEMBERS & AUTHORISED SIGNATORIES
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1. |
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FUNCTION |
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NAME |
Nino
Basharuli |
Managing
Director |
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BOARD
MEMBER |
Yes |
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AUTHORISED
SIGNATORY |
Yes |
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NATIONALITY |
Georgian |
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ID.
NO. |
06001000732 |
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GENDER |
Female |
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SPOKEN
LANGUAGES |
Georgian / Russian |
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OWNERSHIP
STRUCTURE
(SHAREHOLDERS/PARTNERS/MEMBERS/OWNER)
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1. |
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EQUITY
(%) |
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NAME |
Nino
Basharuli |
100% |
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RELATION
TYPE |
Shareholder |
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NATIONALITY |
Georgian |
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ID.
NO. |
06001000732 |
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GENDER |
Female |
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SPOKEN
LANGUAGES |
Georgian / Russian |
HISTORY
BACKGROUND
The
subject company was established in Tbilisi on 12 December 2017.
WORKFORCE
KEY MANAGEMENT
PERSONNEL
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1. |
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POSITION |
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NAME |
Nino
Basharuli |
Managing
Director |
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BOARD
MEMBER |
Yes |
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AUTHORISED
SIGNATORY |
Yes |
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NATIONALITY |
Georgian |
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ID.
NO. |
6001000732 |
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GENDER |
Female |
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SPOKEN
LANGUAGES |
Georgian / Russian |
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WORKFORCE |
PERIOD |
NOTES |
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3 |
15/05/2018 |
subject |
OPERATIONS
ACTIVITIES
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ACTUAL ACTIVITIES |
Trading as importers and distributors of
detergents and perfume. |
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IMPORT
COUNTRIES |
France,
UAE and Germany. |
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EXPORT
COUNTRIES |
Subject
does not export, all sales are domestic. |
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NACE
CODE (REV. 2) |
DESCRIPTION |
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4645 |
Wholesale
of perfume and cosmetics. |
FACILITIES
Owned
premises comprising administrative offices located at the heading address.
GENERAL
INFORMATION
BANKERS
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1.
BANK NAME |
TBC
BANK JSC |
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WEBSITE |
www.tbcbank.com.ge |
FINANCIAL
INFORMATION
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FINANCIAL
YEAR ENDS |
31-Dec |
SUBJECT COMPANY
FINANCIAL DATA
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NOTES
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Private
companies are not required to publish or disclose balance sheets. The subject
interviewed offered the following information: |
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CURRENCY |
USD |
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PERIOD
ENDED |
31/12/2018 |
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LENTH OF PERIOD |
12 Months |
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RELIABILITY
LEVEL |
projected |
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TURNOVER |
25000 |
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SECTION
REMARKS |
Net
Profit not given but stated to be 10% of the sales turnover. |
PAYMENT
INFORMATION
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MODE
OF PAYMENT |
No
trade experience of payments is available. |
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CREDIT
OPINION |
Subject is a newly-established business incorporated
on 12 December 2017. As the subject has recently commenced
operations and has no financial or payment track
record, we recommend dealing on fully secured terms. |
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TRADE
RISK |
High |
SPECIAL
REMARKS
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INTERVIEWED
PERSON |
Nino
Basharuli |
Managing
Director |
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REMARKS
ON GIVEN NAME |
Please note that subject is also known by
the name you provided: GEOKA Ltd. Subject's
correct commonly known name in English is Geoka LLC. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.83 |
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1 |
INR 91.68 |
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Euro |
1 |
INR 80.29 |
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GEL |
1 |
INR 27.20 |
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 : |
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
·
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.