MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SEYYIT MEVLANA ORAL – ORKIM KIMYA |
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Registered Office : |
Gama Is Merkezi 1-06A No: 33130 Serbest Bolge (Free Zone) – |
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Country : |
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Date of Incorporation : |
26.07.2006 |
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Com. Reg. No.: |
29528 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trade of dye at free zone |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
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NAME |
: |
SEYYIT MEVLANA ORAL – ORKIM KIMYA |
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ADDRESS |
: |
Head Office: Gama Is Merkezi 1-06A No:
33130 Serbest Bolge (Free Zone) – Branch: Turgut Reis Mah. Tekstilkent A4
Blok No:35-36 Esenler – |
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PHONE NUMBER |
: |
90-324-238 72 47 (Head Office) 90-212-438 06 85 (Branch) |
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FAX NUMBER |
: |
90-212-438 06 89 (Branch) |
LEGAL STATUS AND
HISTORY
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TAX OFFICE / NO |
: |
From the beginning of year 2007,the sole
proprietorships perform fiscal manipulations with personal ID number instead
of tax number. So the number of the subject changed from 6450099399 to
21355952394 for fiscal manipulations. |
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REGISTRATION NUMBER |
: |
29528 |
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REGISTERED OFFICE |
: |
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DATE ESTABLISHED |
: |
26.07.2006 (Commercial Registry Gazette
Date/No: 03.08.2006 / 6613) |
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LEGAL FORM |
: |
Sole-Proprietorship |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
The liability of the sole-proprietorships
is not limited to the capital. The owners of the sole-proprietorships are
responsible for the debts of the sole-proprietorships with all of their
personal wealth. |
OWNERSHIP / MANAGEMENT
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OWNER |
: |
Seyyit Mevlana Oral The owner, Seyyit Mevlana Oral, was born
on 29.07.1961 and graduated from secondary school. Properties owned by the owner are declared
as follows: -2 flats -1 office (branch office) at “Turgut Reis Mah.
Tekstilkent A4 Blok No:35-36 Esenler – Seyyit Mevlana Oral has shares at the
following company: -Birsun Tekstil Boya Kimya Ticaret Ltd.
Sti. |
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DIRECTOR |
: |
Seyyit Mevlana Oral |
OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Trade of dye at free zone |
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SECTOR |
: |
Commerce |
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NUMBER OF
EMPLOYEES |
: |
The subject has no employees. Operations
are carried out by owner. |
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NET SALES |
: |
(YTL) 184,810 59,202 |
(26.07.-31.12.2006) (01.01.-31.03.2007) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
USD 120,525 USD 111,242 |
(26.07.-31.12.2006) (01.01.-20.07.2007) |
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IMPORT COUNTRIES |
: |
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MERCHANDISE
IMPORTED |
: |
Dye |
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EXPORT VALUE |
: |
As the subject is located at Free Zone all
of its sales are regarded as exports. |
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PREMISES |
: |
Head Office: Gama Is Merkezi 1-06A No:
33130 Serbest Bolge (Free Zone) – Branch: Turgut Reis Mah. Tekstilkent A4
Blok No:35-36 Esenler – |
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TREND OF BUSINESS : Undetermined; young business
COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Small
FINANCE
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MAIN DEALING BANKERS |
: |
Garanti Bankasi Yenibosna branch in Oyakbank Topkapi Sanayi and AHL branches
in Asya Katilim Bankasi Gunesli and |
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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 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 “Seyyit Mevlana Oral” or “Orkim Kimya” |
COMMENT ON FINANCIAL
POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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Capitalization was fair as of 31.12.2006. However the liability of the
sole-proprietorships is not limited to the capital. The owners of the sole-proprietorships
are responsible for the debts of the sole-proprietorships with all of their
personal wealth. The owner of the subject possesses two flats and an office
and has shares at a limited company. |
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LIQUIDITY |
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Very Low |
As of 31.12.2006 |
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PROFITABILITY |
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Low |
Between 26.07.-31.12.2006 |
Good |
Between 01.01.-31.03.2007 |
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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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Unsatisfactory |
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CREDIT OPINION
CREDIT OPINION WITHOUT OBLIGATION : We are of the opinion that, the subject is suitable for dealing on
secured terms for any amount of business.
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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.-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 |
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BALANCE SHEETS |
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YTL |
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31.12.06 |
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CURRENT ASSETS |
108.989 |
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0,45 |
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Cash and
Banks |
3.288 |
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0,01 |
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Marketable
Securities |
0 |
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0,00 |
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Account
Receivable |
0 |
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0,00 |
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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 |
105.701 |
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0,44 |
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Other
Current Assets |
0 |
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0,00 |
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NON-CURRENT ASSETS |
132.127 |
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0,55 |
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Long-term Receivable |
132.127 |
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0,55 |
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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 |
0 |
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0,00 |
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TOTAL ASSETS |
241.116 |
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1,00 |
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CURRENT LIABILITIES |
169.766 |
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0,70 |
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Financial
Loans |
0 |
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0,00 |
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Accounts
Payable |
169.528 |
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0,70 |
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Loans from
Owner |
0 |
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0,00 |
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Other
Short-term Payable |
0 |
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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 |
238 |
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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
Owner |
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 |
71.350 |
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0,30 |
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TOTAL LIABILITIES AND EQUITY |
241.116 |
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1,00 |
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INCOME STATEMENTS |
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YTL |
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YTL |
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26.07-31.12.2006 |
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01.01.-31.03.2007 |
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Net Sales |
184.810 |
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1,00 |
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59.202 |
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1,00 |
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Cost of
Goods Sold |
169.410 |
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0,92 |
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52.634 |
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0,89 |
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Gross Profit |
15.400 |
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0,08 |
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6.568 |
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0,11 |
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Operating
Expenses |
14.330 |
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0,08 |
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2.707 |
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0,05 |
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Operating Profit |
1.070 |
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0,01 |
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3.861 |
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0,07 |
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Other
Income |
0 |
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0,00 |
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0 |
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0,00 |
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Other
Expenses |
0 |
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0,00 |
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0 |
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0,00 |
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Financial
Expenses |
0 |
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0,00 |
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0 |
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0,00 |
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Profit (loss) Before Tax |
1.070 |
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0,01 |
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3.861 |
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0,07 |
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Tax
Payable |
0 |
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0,00 |
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0 |
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0,00 |
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Net Profit (loss) |
1.070 |
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0,01 |
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3.861 |
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0,07 |
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FINANCIAL RATIOS |
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26.07-31.12.2006 |
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01.01.-31.03.2007 |
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LIQUIDITY RATIOS |
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Current Ratio |
0,64 |
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-- |
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Acid-Test Ratio |
0,02 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,00 |
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-- |
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Short-term Receivable/Total Assets |
0,00 |
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-- |
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Tangible Assets/Total Assets |
0,00 |
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-- |
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TURNOVER RATIOS |
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Inventory Turnover |
-- |
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-- |
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Stockholders' Equity Turnover |
2,59 |
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-- |
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Asset Turnover |
0,77 |
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-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,30 |
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-- |
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Current Liabilities/Total Assets |
0,70 |
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-- |
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Financial Leverage |
0,70 |
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-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,01 |
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-- |
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Operating Profit Margin |
0,01 |
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|
0,07 |
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Net Profit Margin |
0,01 |
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0,07 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
257,38 |
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-- |
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Average Payable Period (days) |
360,25 |
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-- |
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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/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 |
|
<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%)