|
|
|
MIRA INFORM REPORT
|
Report No. : |
509363 |
|
Report Date : |
22.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
BARIL KAVKASIA SHPS |
|
|
|
|
Registered Office : |
Rustaveli Street
162v, Apartment 37, Kobuleti 6200 |
|
|
|
|
Country : |
Georgia |
|
|
|
|
Financials (as on) : |
2017 (Summarized) |
|
|
|
|
Date of Incorporation : |
07.06.2016 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·
Trading
as importers and distributors of universal paints, marine coatings and
painting tools. ·
Subject
provides sustainable coating solutions. |
|
|
|
|
No. of Employees : |
5 (Permanent) 20 (Casual) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
LARI 30,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 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.
|
Source
: CIA |
COMPANY NAME
BARIL
KAVKASIA SHPS (CORRECT)
BARIL CAUCASIA (REQUESTED)
ADDRESS
Building
: Kirivi Factory, Office 3
Street :
Tornike Eristavi Street 1
Area :
Didube District
Town :
Tbilisi 0154
Country :
Georgia
Mobile :
(995 551) 634 343 (Managing Director)
E-Mail
: info@baril.ge
Website
: www.baril.ge
Extended Name : Baril Kavkasia Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation: Baril Caucasia LLC
SENIOR
COMPANY PERSONNEL
Name Position
Lasha
Bezhanidze Managing Director
Total Employees:
5 (permanent)
20
(casual)
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 30,000
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
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 1,500,000 - 2017 – Approx.
Net Profit :
Not given but stated to be profitable
Financial year
ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 7
June 2016
History : The
subject company was established in Kobuleti on 7 June 2016.
ID Code :
446966098
Authorised Capital
: LARI 100
Paid-Up Capital :
LARI 100
Shazguduli Pasukhismbgeblobis Sazagadoeba
(limited liability company) ShPS) with the following director and shareholders
:
Director
Lasha Bezhanidze
(Georgian national / Personal No.:
61004065386)
Shareholders Percentage
1. Lasha Bezhanidze 80%
(Georgian national / Personal No.: 61004065386)
2. Nika Tsetskhladze 20%
(Georgian
national / Personal No.: 61004061210)
Affiliated company
of the subject company :
Associate
Ain Grupi ShPS
Rustaveli Street
162v, Apartment 37
Kobuleti 6200
Managing Director:
Lasha Bezhanidze
Est.: 25/07/2016
ID Code:
446966739
Shareholders:
- Lasha Bezhanidze 50%
- Avtandil Gagua 50%
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers and distributors of universal paints, marine coatings and painting
tools.
Subject provides
sustainable coating solutions.
NACE Code: 4690
Imports from
Poland.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Rented premises comprising
administrative offices and storage facilities located at the heading address.
REGISTERED OFFICE
Rustaveli Street
162v, Apartment 37
Kobuleti 6200
SPECIAL NOTE
You enquired on:
BARIL CAUCASIA. Please note that the correct name is as per heading.
Interviewed: Lasha
Bezhanidze (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.09 |
|
|
1 |
INR 91.41 |
|
Euro |
1 |
INR 79.93 |
|
GEL |
1 |
INR 27.99 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.