MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MATEL HAMMADDE SANAYI VE TICARET A.S. |
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Registered Office : |
Yali Mah. Ziya Gokalp Cad. No:3 Maltepe – |
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Country : |
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Date of Incorporation : |
10.04.1980 |
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Com. Reg. No.: |
172138 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Mining and processing of ceramic raw materials |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
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NAME |
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MATEL HAMMADDE SANAYI VE TICARET A.S. |
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ADDRESS |
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Head Office: Yali Mah. Ziya Gokalp Cad.
No:3 Maltepe – The address was changed from “Dragos
Cayirlar Mevkii No:5 Maltepe – |
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PHONE NUMBER |
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90-216-441 22 84 |
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FAX NUMBER |
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90-216-441 22 87 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
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Anadolu Kurumlar / 6130016634 |
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REGISTRATION NUMBER |
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172138 |
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REGISTERED OFFICE |
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DATE ESTABLISHED |
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10.04.1980 |
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LEGAL FORM |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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YTL 3,059,884 |
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It is declared that, the firm is planning
to increase the registered capital from YTL 3,059,884 to YTL 7,750,000. |
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PAID-IN CAPITAL |
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The paid-in capital is declared to be YTL
3,059,884 by the company. There is no certification for this figure. |
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HISTORY |
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Previous Registered Capital |
: 114,000 |
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Regist. Capital Changed on |
: 02.12.2002 (Commercial Registry Gazette
Date/No: 09.12.2002 / 5692) |
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OWNERSHIP /
MANAGEMENT
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SHAREHOLDERS |
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Elginkan Holding A.S. E.C:A. Pres Dokum Sanayi A.S. Elper Yatirim A.S. Others |
78 % |
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GROUP PARENT COMPANY |
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Elginkan Holding A.S. Elginkan Holding A.S. is a well-known and
experienced conglomerate which coordinates the financial and administrative
operations of Elginkan group of companies. |
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Main companies of Elginkan group are as
follows: -Ar Muslukculuk Sanayi A.S. -E.C.A. Pres Dokum Sanayi A.S. -Eke Insaat San ve Tic. A.S. - -Eleks Dis Ticaret A.S. -Elginkan Holding A.S. -Elmor Tesisat Malzemesi Ticaret A.S. -Elper Yatirim A.S. -Elsan Hammadde San A.S. -Elsel Gaz Armaturleri San ve Tic A.S. -Emar Satis Sonrasi Musteri Hizmetleri
Sanayi ve Ticaret A.S. -Emas Makina Sanayi A.S. -Matel Hammadde San ve Tic A.S. -Odoksan Osmaneli Dokum Sanayi ve Ticaret
A.S. -Serel Seramik Sanayi ve Ticaret A.S. -Tezel Gida Gida Maddeleri Imalat ve Satis
A.S. -Valf San. A.S. -Valfsel Armatur Sanayi A.S. |
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SUBSIDIARIES |
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-Labranda Liman Isletmeleri ve Maden
Sanayi Ticaret A.S. (14 %) |
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BOARD OF DIRECTORS |
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Ahmet Yucel Unan Muzaffer Zeren Mehmet Vefik Akman |
Chairman Vice-Chairman Member |
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DIRECTORS |
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Selim Cicek Bayram Altintop Fikret Adar Mehmet Haluk Sipahi |
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OPERATIONS
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BUSINESS
ACTIVITIES |
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Mining and processing of ceramic raw
materials |
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SECTOR |
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Mining |
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NUMBER OF
EMPLOYEES |
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75 |
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NET SALES |
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(YTL) 16,191,600 21,531,000 4,731,900 |
(2005) (2006) (1.1.-31.03.2007) |
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The net sales figures are declared by the company.
There is no certification for these figures. |
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PRODUCTION |
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(Tons) 640,000 835,500 170,500 |
(2004) (2005) (2006) |
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IMPORT VALUE |
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USD 896,000 USD 1,370,000 USD 492,000 |
(2005) (2006) (01.01.-31.03.2007) |
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IMPORT COUNTRIES |
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MERCHANDISE
IMPORTED |
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Ceramic raw materials, laboratory
materials, machineries |
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EXPORT VALUE |
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USD 1,284,000 USD 1,199,000 USD 345,000 |
(2005) (2006) (01.01.-31.03.2007) |
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EXPORT COUNTRIES |
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MERCHANDISE
EXPORTED |
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Processed ceramic raw materials |
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PREMISES |
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Head Office: Yali Mah. Ziya Gokalp Cad.
No:3 Maltepe – Factory: Organize Sanayi Bolgesi Bilecik
(135,732 sqm) (owned) Plant: Ekinanbari Mevkii Milas – Mugla
(27,276 sqm) (owned) Warehouse: Duvertepe Mevkii Sindirgi –
Balikesir (15,000 sqm) (owned) |
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FIXED CAPITAL
INVESTMENTS |
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The firm investing a grinding foundation. |
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TREND OF BUSINESS : Upwards in 2006
COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Large
FINANCE
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MAIN DEALING BANKERS |
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Turkiye
Is Bankasi Kadikoy branch in Garanti
Bankasi Kozyatagi branch in |
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PAYMENT BEHAVIOUR |
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No complaints have been heard regarding
payments from banks. According to the official registries between 01.01.2000-15.06.2007, there are no protested bills and non-paid cheques registered in the name of “Matel Hammadde” |
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KEY FINANCIAL ELEMENTS |
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Net Sales Profit (Loss) Before Tax Stockholders’ Equity Total Assets |
2005 (YTL) 16,191,600 4,325,200 10,291,200 13,360,900 |
2006 (YTL) 21,531,000 6,383,200 12,796,900 18,960,200 |
(1.1.-31.03.07) (YTL) 4,731,900 1,589,200 13,990,900 19,178,100 |
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The a.m. figures are declared by the
company. There is no certification for these figures. |
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COMMENT ON FINANCIAL
POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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High |
As of 31.03.2007 |
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PROFITABILITY |
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High |
Between 1.1.-31.3.2007 |
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GENERAL
FINANCIAL POSITION |
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According to the figures declared by the company, financial position
is good. |
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CREDIT OPINION
PROPOSED CREDIT AMOUNT : USD 1,500,000 against D/A
CREDIT OPINION WITHOUT OBLIGATION : We are of the opinion that, the proposed amount of
credit is admissible.
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(1.1.-31.03.2007) |
1.88 % |
1.4068 |
1.8521 |
2.7609 |
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(1.1.-30.06.2007) |
2.98 % |
1.3733 |
1.8275 |
2.7117 |
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/normal. |
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 |
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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%)