MIRA INFORM REPORT

Report Date :

20.08.2007

IDENTIFICATION DETAILS

Name :	ADRESS GIDA TEKSTIL PLASTIK SANAYI VE TICARET LTD STI

Registered Office :	Maltepeyolu Cad. Orhan Kocabas Triko Center Is Merkezi No: 5/60 Bayrampasa Istanbul /

Country :	Turkey

Date of Incorporation :	03.12.2003 (Commercial Registry Gazette Date/No: 08.12.2003/5941)

Legal Form :	Limited Company

Line of Business :	Trade of various goods, mainly second-hand textile machineries and construction materials

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	Usually Correct

Litigation :	Clear

COMPANY IDENTIFICATION

NAME	:	ADRESS GIDA TEKSTIL PLASTIK SANAYI VE TICARET LTD STI
ADDRESS	:	Head Office: Maltepeyolu Cad. Orhan Kocabas Triko Center Is Merkezi No: 5/60 Bayrampasa Istanbul /Turkey
PHONE NUMBER	:	90-212-576 65 65 90-532-426 78 16 (GSM number of main shareholder)
E-MAIL	:	m.alidagdelen@gmail.com

LEGAL STATUS AND HISTORY

TAX OFFICE / NO	:	Davutpasa / 0080540210
REGISTRATION NUMBER	:	510314
REGISTERED OFFICE	:	Istanbul Chamber of Commerce
DATE ESTABLISHED	:	03.12.2003 (Commercial Registry Gazette Date/No: 08.12.2003/5941)
LEGAL FORM	:	Limited Company
TYPE OF COMPANY	:	Private
REGISTERED CAPITAL	:	YTL 10,000

HISTORY	:
		Previous Address	:Ikitelli OSB Ipkas Sanayi Sit 4-A Blok No:3 Ikitelli K.cekmece Istanbul
		Address Changed On	:18.02.2005(Commercial Registry Gazette Date/No: 23.02.2005/6246)

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Mehmet Ali Dagdelen

Fatma Dagdelen

95 %

5 %

SISTER COMPANIES

Yaprak Yapi ve Insaat Malzemeleri Sanayi ve Dis Ticaret Ltd Sti

GROUP PARENT COMPANY

None

DIRECTORS

Mehmet Ali Dagdelen

Fatma Dagdelen

OPERATIONS

BUSINESS ACTIVITIES	:	Trade of various goods, mainly second-hand textile machineries and construction materials.
SECTOR	:	Commerce
NET SALES	:	n.a.
		In Turkey, there is no public registry on companies’ financial and detailed general data. So, to collect a firm’s data, an information agency has to contact the company and get its authorization. However the company strictly declines to give us an authorization to gather its financial data. As the firm’s shares are not open to public it is not obliged to announce its data.

CAPACITY	:	None
PRODUCTION	:	None
EXPORT COUNTRIES	:	India, Bangladesh
MERCHANDISE EXPORTED	:	Machines preparing textile fibers, spinning, reeling machines, parts of spinning machines, mechanical test apparatus
PREMISES	:	Head Office: Maltepeyolu Cad. Orhan Kocabas Triko Center Is Merkezi No: 5/60 Bayrampasa Istanbul
FIXED CAPITAL INVESTMENTS	:	None

COMMERCIAL MORALITY

Fair

FINANCE

PAYMENT BEHAVIOUR

According to the official registries since its establishment on 03.12.2003 until 15.07.2007, there is 1 non-paid cheque in 2006 registered in the name of “Adress Gida”. This cheque was paid later on.

COMMENT ON FINANCIAL POSITION

GENERAL FINANCIAL

POSITION

Undetermined; the firm declines to give us an authorization to gather its financial data. As the shares of the firm are not open to public, it is not obliged to announce its data.

CREDIT OPINION

Incr. in producers’ price index

Average YTL/$

Average YTL/EUR

Average YTL/GBP

(2006)

11.58 %

1.4309

1.7987

2.6377

(1.1.-31.07.2007)

3,05 %

1.3633

1.8196

2.6989

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions