MIRA
INFORM REPORT
|
Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
OPTIMAR LOJISTIK DIS TICARET LTD. STI. |
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Registered Office : |
Acibadem Mah. Koftuncu Sk. Kocaturk Sit. A Blok No: 14/22 Kadikoy – |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23.02.2005 |
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Com. Reg. No.: |
546731 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trade of medical materials |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY
IDENTIFICATION
|
NAME |
: |
OPTIMAR LOJISTIK DIS TICARET LTD. STI. |
|
ADDRESS |
: |
Head Office: Acibadem Mah. Koftuncu Sk.
Kocaturk Sit. A Blok No: 14/22 Kadikoy – |
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PHONE NUMBER |
: |
90-216 546 09 82 90-216-340 70 81 |
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FAX NUMBER |
: |
90-216-546 09 83 90-216-340 70 82 |
LEGAL STATUS AND
HISTORY
|
TAX OFFICE / NO |
: |
Kadikoy / 4780434611 |
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REGISTRATION NUMBER |
: |
546731 |
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REGISTERED OFFICE |
: |
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DATE ESTABLISHED |
: |
23.02.2005 (Commercial Registry Gazette
Date/No: 02.03.2005 / 6251) |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 600,000 |
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HISTORY |
: |
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Previous Name |
: INTER FARMA DIS TICARET LTD. STI. |
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Name Changed On |
: 12.04.2005
(Commercial Registry Gazette Date/No: 19.04.2005 / 6285) |
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Previous Name |
: OPTIMA LOJISTIK
DIS TICARET LTD. STI. |
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Name Changed On |
: 01.05.2007
(Commercial Registry Gazette Date/No: 07.05.2007 / 6802) |
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Previous
Registered Capital |
: YTL 100,000 |
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Regist. Capital Changed on |
: 04.06.2007 (Commercial Registry Gazette
Date/No: 08.06.2007 / 6826) The increase is d |
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Previous Address |
: Kosuyolu Mah. Katip Salih |
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Address Changed On |
: 05.12.2006 (Commercial Registry Gazette
Date/No: 12.12.2006 / 6702) |
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Previous Shareholders |
: Melike Ozcan 90 % Murat Ulger 10 % |
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Shareholders Changed On |
: 07.03.2006 (Commercial Registry Gazette
Date/No: 10.03.2006 / 6510) |
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OWNERSHIP /
MANAGEMENT
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SHAREHOLDERS |
: |
Melike Ozcan Huseyin Bala |
99 % 1
% |
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SISTER COMPANIES |
: |
-Farma Saglik Urunleri Ithalat Ihracat
Ltd. Sti. -Farma Lojistik Dis Ticaret Ltd. Sti. |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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DIRECTOR |
: |
Melike Ozcan |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Trade of medical materials The firm which was established on
23.02.2005 was not operating very actively in 2005, it started to operate
very actively in March 2006. The firm has declared that, it is the
distributor of the following company: -Ansel ( |
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SECTOR |
: |
Commerce |
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NUMBER OF
EMPLOYEES |
: |
20 |
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NET SALES |
|
(YTL) 397,984 6,908,606 1,083,092 |
(23.02.-31.12.2005) (2006) (01.01.-31.03.2007) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
USD 5 million USD 3 million |
(2006) (1.1.-28.6.2007) |
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IMPORT COUNTRIES |
: |
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MERCHANDISE
IMPORTED |
: |
Medical materials |
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EXPORT VALUE |
: |
None |
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PREMISES |
: |
Head Office: Acibadem Mah. Koftuncu Sk.
Kocaturk Sit. A Blok No: 14/22 Kadikoy – Branch: Molla Seref Mah. Millet Cad.
Karagul Is Merkezi No:84/58 Fatih Istanbul |
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TREND OF BUSINESS : There was an upwards trend at sales volume in 2006 but there appears
a slowdown at sales volume in the first 3 months of 2007.
COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Upper-moderate
FINANCE
|
MAIN DEALING BANKERS |
: |
Finansbank Capitol Altunizade branch in Fortisbank Acibadem branch in Anadolubank Cadde Bostan branch in Denizbank Altunizade branch in Albaraka Turk Katilim
Bankasi Uskudar branch in Istanbul Kuveyt Turk Katilim
Bankasi Kadikoy branch in Istanbul Turkiye Finans
Katilim Bankasi Umraniye branch in Istanbul |
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CREDIT FACILITIES |
: |
The
subject company is making use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No complaints have been heard regarding payments
from banks. According
to the official registries since its establishment on 23.02.2005 until
15.07.2007, there are no protested bills and non-paid cheques registered in
the former names (Inter Farma) (Optima Lojistik) or the current name (Optimar
Lojistik) of the subject company. |
COMMENT ON FINANCIAL
POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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Capitalization was low as of 31.12.2006. The registered capital was increased
from YTL 100,000 to YTL 600,000 on 04.06.2007. The increase is d |
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LIQUIDITY |
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Liquidity was fair as of 31.12.2006. The capital increase is expected
to have a positive effect on liquidity as it is decided to be financed by
cash. |
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PROFITABILITY |
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In order |
In 2006 |
In order |
Between 1.1.-31.3.2007 |
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GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
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Favorable |
In 2006 |
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GENERAL
FINANCIAL POSITION |
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Capitalization was low as of 31.12.2006. The registered capital was
increased from YTL 100,000 to YTL 600,000 on 04.06.2007. The increase is d |
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Incr. in producers’
price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(1.1.-31.03.2007) |
1.88 % |
1.4068 |
1.8521 |
2.7609 |
|
(1.1.-31.07.2007) |
3,05 % |
1.3633 |
1.8196 |
2.6989 |
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BALANCE SHEETS |
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YTL |
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YTL |
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31.12.05 |
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31.12.06 |
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CURRENT ASSETS |
380.110 |
|
0,91 |
|
2.637.538 |
|
0,93 |
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Cash and
Banks |
51.094 |
|
0,12 |
|
45.080 |
|
0,02 |
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Marketable
Securities |
0 |
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0,00 |
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0 |
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0,00 |
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Account
Receivable |
143.737 |
|
0,34 |
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1.620.311 |
|
0,57 |
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Other Receivable |
0 |
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0,00 |
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0 |
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0,00 |
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Inventories |
63.624 |
|
0,15 |
|
200.494 |
|
0,07 |
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Advances
Given |
109.986 |
|
0,26 |
|
740.983 |
|
0,26 |
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Other
Current Assets |
11.669 |
|
0,03 |
|
30.670 |
|
0,01 |
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NON-CURRENT ASSETS |
37.581 |
|
0,09 |
|
184.113 |
|
0,07 |
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Long-term
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Financial
Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Tangible Fixed
Assets (net) |
37.581 |
|
0,09 |
|
62.368 |
|
0,02 |
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Intangible
Assets |
0 |
|
0,00 |
|
121.745 |
|
0,04 |
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Other
Non-Current Assets |
0 |
|
0,00 |
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0 |
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0,00 |
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TOTAL ASSETS |
417.691 |
|
1,00 |
|
2.821.651 |
|
1,00 |
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CURRENT LIABILITIES |
289.019 |
|
0,69 |
|
2.514.678 |
|
0,89 |
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Financial
Loans |
0 |
|
0,00 |
|
667.492 |
|
0,24 |
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Accounts
Payable |
112.921 |
|
0,27 |
|
1.601.905 |
|
0,57 |
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Loans from
Shareholders |
0 |
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0,00 |
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0 |
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0,00 |
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Other
Short-term Payable |
0 |
|
0,00 |
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0 |
|
0,00 |
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Advances
from Customers |
176.012 |
|
0,42 |
|
228.811 |
|
0,08 |
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Taxes
Payable |
86 |
|
0,00 |
|
16.470 |
|
0,01 |
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Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Other
Current Liabilities |
0 |
|
0,00 |
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0 |
|
0,00 |
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LONG-TERM LIABILITIES |
0 |
|
0,00 |
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0 |
|
0,00 |
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Financial
Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Securities
Issued |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Long-term
Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Loans from
Shareholders |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Other
Long-term Liabilities |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
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STOCKHOLDERS' EQUITY |
128.672 |
|
0,31 |
|
306.973 |
|
0,11 |
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Paid-in
Capital |
100.000 |
|
0,24 |
|
100.000 |
|
0,04 |
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Reserves |
0 |
|
0,00 |
|
28.672 |
|
0,01 |
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Revaluation Fund |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Accumulated Losses(-) |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Net Profit
(loss) |
28.672 |
|
0,07 |
|
178.301 |
|
0,06 |
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TOTAL LIABILITIES AND EQUITY |
417.691 |
|
1,00 |
|
2.821.651 |
|
1,00 |
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INCOME STATEMENTS |
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YTL |
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|
YTL |
|
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|
YTL |
|
|
|
|
|
|
23.2.-31.12.05 |
|
|
|
2006 |
|
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|
1.1.-31.03.07 |
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Net Sales |
397.984 |
|
1,00 |
|
6.908.606 |
|
1,00 |
|
1.083.092 |
|
1,00 |
|
|
|
Cost of
Goods Sold |
362.183 |
|
0,91 |
|
6.208.166 |
|
0,90 |
|
881.818 |
|
0,81 |
|
|
|
Gross Profit |
35.801 |
|
0,09 |
|
700.440 |
|
0,10 |
|
201.274 |
|
0,19 |
|
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Operating
Expenses |
7.129 |
|
0,02 |
|
318.914 |
|
0,05 |
|
85.548 |
|
0,08 |
|
|
|
Operating Profit |
28.672 |
|
0,07 |
|
381.526 |
|
0,06 |
|
115.726 |
|
0,11 |
|
|
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Other
Income |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Expenses |
0 |
|
0,00 |
|
207 |
|
0,00 |
|
296 |
|
0,00 |
|
|
|
Financial
Expenses |
0 |
|
0,00 |
|
158.391 |
|
0,02 |
|
73.552 |
|
0,07 |
|
|
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Profit (loss) Before Tax |
28.672 |
|
0,07 |
|
222.928 |
|
0,03 |
|
41.878 |
|
0,04 |
|
|
|
Tax
Payable |
0 |
|
0,00 |
|
44.627 |
|
0,01 |
|
0 |
|
0,00 |
|
|
|
Net Profit (loss) |
28.672 |
|
0,07 |
|
178.301 |
|
0,03 |
|
41.878 |
|
0,04 |
|
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FINANCIAL RATIOS |
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23.2.-31.12.05 |
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2006 |
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1.1.-31.03.07 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,32 |
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|
1,05 |
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-- |
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Acid-Test Ratio |
0,67 |
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|
0,66 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,15 |
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|
0,07 |
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|
-- |
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Short-term Receivable/Total Assets |
0,34 |
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|
0,57 |
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|
-- |
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Tangible Assets/Total Assets |
0,09 |
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|
0,02 |
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-- |
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TURNOVER RATIOS |
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Inventory Turnover |
5,69 |
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|
30,96 |
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|
-- |
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Stockholders' Equity Turnover |
3,09 |
|
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|
22,51 |
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|
-- |
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Asset Turnover |
0,95 |
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|
2,45 |
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|
-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,31 |
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|
0,11 |
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|
|
-- |
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Current Liabilities/Total Assets |
0,69 |
|
|
|
0,89 |
|
|
|
-- |
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Financial Leverage |
0,69 |
|
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|
0,89 |
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|
-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,22 |
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|
0,58 |
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|
-- |
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Operating Profit Margin |
0,07 |
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|
0,06 |
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|
0,11 |
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Net Profit Margin |
0,07 |
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|
0,03 |
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|
0,04 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
130,02 |
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|
84,43 |
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|
-- |
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Average Payable Period (days) |
112,24 |
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|
92,89 |
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|
-- |
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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%)