MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
HARDI DIS TICARET LTD STI |
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Registered Office : |
Cami Serif Mah. 5217 Sok. Cogal Apt. 3/7 Mersin |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.09.1997 |
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Com. Reg. No.: |
18965 |
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Legal Form : |
Limited Company |
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Line of Business : |
Dealing with trade of mainly tea, ready- wear
and secondhand products such as electronic products, also is dealing with
trade of kitchenware products, glassware products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Very Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
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NAME |
: |
HARDI DIS TICARET LTD STI |
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ADDRESS |
: |
Head Office: Cami Serif Mah. 5217 Sok.
Cogal Apt. 3/7 Mersin/ Turkey The street number of the firm was changed from
“28” to “5217” by the Municipality. |
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PHONE NUMBER |
: |
90-324-238 49 28 |
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FAX NUMBER |
: |
90-324-238 49 29 |
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LEGAL STATUS AND
HISTORY |
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TAX OFFICE/NO |
: |
Liman / 4570071418 |
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REGISTRATION NUMBER |
: |
18965 |
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REGISTERED OFFICE |
: |
Mersin Chamber of Commerce |
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DATE ESTABLISHED |
: |
18.09.1997 (Commercial Registry Gazette
Date/No: 26.09.1997/4385) |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 11,700 |
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PAID- IN CAPITAL |
: |
YTL 11,700 |
OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
Salh M.Qadir Sultan Shukrya M Sulaiman |
50 % 50 % |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
Salh M.Qadir Sultan Shukrya M Sulaiman |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
The firm which is dealing with trade of
mainly tea, ready- wear and secondhand products such as electronic products,
also is dealing with trade of kitchenware products, glassware products… |
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SECTOR |
: |
Commerce |
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NUMBER OF
EMPLOYEES |
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1 |
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NET SALES |
: |
(YTL) 1,747,012 |
(2006) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
China, Sri- Lanka, Saudi Arabia,
Netherlands |
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MERCHANDISE
IMPORTED |
: |
Tea, electronic products , ready- wear |
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PREMISES |
: |
Head Office: Cami Serif Mah. 5217 Sok.
Cogal Apt. 3/7 Mersin (rented) |
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COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Very small
FINANCE
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MAIN DEALING BANKERS |
: |
Garanti Bankasi Mersin and Serbest Bolge
branches in Mersin |
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CREDIT FACILITIES |
: |
No credit facility has come to our
knowledge. |
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PAYMENT BEHAVIOUR |
: |
No complaints have been heard regarding
payments from the bank. According to the official
registries between 01.01.2000-15.10.2007, there are no protested bills and
non-paid cheques registered in the name of
“Hardi Dis” |
COMMENT
ON FINANCIAL POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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Low |
As of 31.12.2006 |
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LIQUIDITY |
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Good |
As of 31.12.2006 |
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PROFITABILITY |
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Low |
In 2006 |
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GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
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In order |
In 2006 |
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GENERAL
FINANCIAL POSITION |
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Liquidity was good but capitalization and profitability
were low in 2006. |
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(1.1.-30.11.2007) |
5.78 % |
1.3190 |
1.7961 |
2.6363 |
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BALANCE SHEETS |
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YTL |
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31.12.06 |
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CURRENT ASSETS |
110.086 |
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0,96 |
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Cash and
Banks |
4.660 |
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0,04 |
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Marketable Securities |
0 |
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0,00 |
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Account Receivable |
100.000 |
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0,87 |
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Other
Receivable |
0 |
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0,00 |
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Inventories |
0 |
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0,00 |
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Advances
Given |
0 |
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0,00 |
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Other
Current Assets |
5.426 |
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0,05 |
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NON-CURRENT ASSETS |
4.882 |
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0,04 |
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Long-term
Receivable |
0 |
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0,00 |
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Financial
Assets |
0 |
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0,00 |
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Tangible
Fixed Assets (net) |
0 |
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0,00 |
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Intangible Assets |
0 |
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0,00 |
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Other
Non-Current Assets |
4.882 |
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0,04 |
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TOTAL ASSETS |
114.968 |
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1,00 |
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CURRENT LIABILITIES |
97.976 |
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0,85 |
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Financial
Loans |
0 |
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0,00 |
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Accounts
Payable |
97.331 |
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0,85 |
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Loans from
Shareholders |
0 |
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0,00 |
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Other
Short-term Payable |
380 |
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0,00 |
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Advances
from Customers |
0 |
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0,00 |
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Taxes
Payable |
265 |
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0,00 |
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Provisions |
0 |
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0,00 |
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Other
Current Liabilities |
0 |
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0,00 |
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LONG-TERM LIABILITIES |
0 |
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0,00 |
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Financial
Loans |
0 |
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0,00 |
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Securities Issued |
0 |
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0,00 |
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Long-term
Payable |
0 |
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0,00 |
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Loans
from Shareholders |
0 |
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0,00 |
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Other
Long-term Liabilities |
0 |
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0,00 |
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Provisions |
0 |
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0,00 |
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STOCKHOLDERS' EQUITY |
16.992 |
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0,15 |
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Paid-in
Capital |
11.700 |
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0,10 |
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Inflation
Adjustment of Capital |
136.446 |
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1,19 |
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Reserves |
14.710 |
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0,13 |
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Revaluation Fund |
0 |
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0,00 |
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Accumulated Losses(-) |
-158.502 |
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-1,38 |
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Net
Profit (loss) |
12.638 |
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0,11 |
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TOTAL LIABILITIES AND EQUITY |
114.968 |
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1,00 |
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INCOME STATEMENTS |
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YTL |
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2006 |
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Net Sales |
1.747.012 |
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1,00 |
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Cost of
Goods Sold |
1.726.632 |
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0,99 |
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Gross Profit |
20.380 |
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0,01 |
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Operating
Expenses |
7.742 |
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0,00 |
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Operating Profit |
12.638 |
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0,01 |
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Other
Income |
0 |
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0,00 |
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Other
Expenses |
0 |
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0,00 |
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Financial
Expenses |
0 |
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0,00 |
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Profit (loss) Before Tax |
12.638 |
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0,01 |
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Tax
Payable |
0 |
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0,00 |
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Net Profit (loss) |
12.638 |
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0,01 |
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FINANCIAL RATIOS |
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2006 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,12 |
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Acid-Test Ratio |
1,07 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,00 |
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Short-term Receivable/Total Assets |
0,87 |
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Tangible Assets/Total Assets |
0,00 |
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TURNOVER RATIOS |
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Inventory Turnover |
--- |
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Stockholders' Equity Turnover |
102,81 |
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Asset Turnover |
15,20 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,15 |
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Current Liabilities/Total Assets |
0,85 |
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Financial Leverage |
0,85 |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,74 |
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Operating Profit Margin |
0,01 |
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Net Profit Margin |
0,01 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
20,61 |
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Average Payable Period (days) |
20,29 |
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RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<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 |
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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%)