MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FARUK TEKSTIL TICARET VE SANAYI LTD.STI. |
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Registered Office : |
Asirefendi Cad. Katip Han No:41 Eminonu-Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
16.12.1993 |
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Com. Reg. No.: |
306939 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trade of curtain and tulle. |
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. |
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 |
: |
FARUK TEKSTIL TICARET VE SANAYI LTD.STI. |
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ADDRESS |
: |
Head Office/Store: Asirefendi Cad. Katip
Han No:41 Eminonu-Istanbul / Turkey |
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PHONE NUMBER |
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90-212-520 19 77 |
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FAX NUMBER |
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90-212-520 13 01 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
: |
Marmara Kurumlar / 3850012137 |
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REGISTRATION NUMBER |
: |
306939 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
16.12.1993 (Commercial Registry Gazette
Date/No:22.12.1993/3432) |
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LEGAL FORM |
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Limited Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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YTL 3,000,000 |
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PAID-IN CAPITAL |
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The paid in capital is declared to be YTL 3,000,000. There is no certification
for paid-in capital |
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HISTORY |
: |
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Previous
Registered Capital |
:YTL 2,000,000 |
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Regist. Capital Changed on |
:02.10.2006 (Commercial Registry Gazette
Date/No: 06.10.2006/6658) |
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Other Historical Events |
:The shareholder
Omer Faruk Parlak sold 15 % shares to Kadir Can Parlak on 13.10.2003
(Commercial Registry Gazette Date / No: 16.10.2003 / 5908) |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
Omer Faruk Parlak Ahmet Cem Parlak Fatma Jale Parlak Kadir Can Parlak Mehmet Ugur Parlak |
30 % 20 % |
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SISTER COMPANIES |
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Declared to be: None |
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GROUP PARENT COMPANY |
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None |
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SUBSIDIARIES |
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None |
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DIRECTORS |
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Omer Faruk Parlak Ahmet Cem Parlak Mehmet Ugur Parlak |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Trade of curtain and tulle |
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SECTOR |
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Commerce |
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NUMBER OF
EMPLOYEES |
: |
25 |
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NET SALES |
: |
n.a. |
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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. |
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CAPACITY |
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None |
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PRODUCTION |
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None |
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IMPORT VALUE |
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USD 300,000 USD 150,000 |
(2006) (01.01.-27.07.2007) |
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IMPORT COUNTRIES |
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India |
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MERCHANDISE
IMPORTED |
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Tulles |
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EXPORT COUNTRIES |
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Romania, Middle East countries |
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MERCHANDISE
EXPORTED |
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Tulles |
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PREMISES |
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Head Office/Store: Asirefendi Cad. Katip
Han No:41 Eminonu-Istanbul (rented) |
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FIXED CAPITAL
INVESTMENTS |
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None |
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COMMERCIAL MORALITY : Good
FINANCE
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MAIN DEALING BANKERS |
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T. Is Bankasi in Istanbul Yapi ve Kredi Bankasi in Istanbul Garanti Bankasi in Istanbul Akbank in Istanbul |
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PAYMENT BEHAVIOUR |
: |
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
“Faruk Tekstil” |
COMMENT ON FINANCIAL POSITION
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GENERAL
FINANCIAL POSITION |
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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. |
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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.-31.10.2007) |
4.84 % |
1.3308 |
1.7999 |
2.6527 |
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 |
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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%)