MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
GUNOZ DIS TICARET-TAHIR GUNOZ |
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Registered Office : |
Avrupa Serbest Bolgesi (Free Zone) 108 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
04.03.2003 |
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Com. Reg. No.: |
7171 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Trade of yarn and chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY
IDENTIFICATION
|
NAME |
: |
GUNOZ DIS TICARET-TAHIR GUNOZ |
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ADDRESS |
: |
Head Office/Warehouse: Avrupa Serbest Bolgesi
(Free Zone) 108 Administrative Office: Haci Seremet Mevkii
Velimese Kasabasi Corlu – Tekirdag / |
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PHONE NUMBER |
: |
90-282-674 48 00 (Administrative Office) |
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FAX NUMBER |
: |
90-282-674 40 71 (Administrative Office) |
LEGAL STATUS AND
HISTORY
|
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 4380028077 to
47131951450 for fiscal manipulations. |
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REGISTRATION NUMBER |
: |
7171 |
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REGISTERED OFFICE |
: |
Corlu Chamber of Commerce |
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DATE ESTABLISHED |
: |
04.03.2003 (Commercial Registry Gazette
Date/No: 13.03.2003 / 5755) |
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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. |
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HISTORY |
: |
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Previous Address |
: Avrupa Serbest Bolgesi (Free Zone) 113 |
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Address Changed On |
: 11.11.2004 (Commercial Registry Gazette Date/No: 19.11.2004 / 6180) |
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Previous Address |
: Avrupa Serbest Bolgesi (Free Zone) 113 |
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Address Changed On |
: 13.09.2005 (Commercial Registry Gazette Date/No: 21.09.2005 / 6394) |
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OWNERSHIP /
MANAGEMENT
|
OWNER |
: |
Tahir Gunoz Tahir Gunoz was born in 1953 and graduated
from high school. |
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Other companies owned by the owner are
declared to be as follows: - Karteks Kimyevi
Maddeler Sanayi ve Ticaret Ltd. Sti. (70 %) - Gunoz Tekstil ve
Kimya Isl. Sanayi ve Ticaret Ltd. Sti. (65 %) The properties owned by Tahir Gunoz are
declared to be as follows: -a production plant in Hadimkoy - |
|
DIRECTORS |
: |
Tahir Gunoz |
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Trade of yarn and chemicals |
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SECTOR |
: |
Commerce |
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NUMBER OF
EMPLOYEES |
: |
6 |
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NET SALES |
: |
(YTL) 2,248,987 1,327,036 482,400 |
(2005) (01.01.-30.06.2007) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
USD 477,600 USD 342,887 |
(2006) |
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IMPORT COUNTRIES |
: |
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MERCHANDISE
IMPORTED |
: |
Yarn and chemicals |
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EXPORT VALUE |
: |
As the subject is located at "Free
Trade Zone" all of its sales are regarded as exports. |
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PREMISES |
: |
Head Office/Warehouse: Avrupa Serbest
Bolgesi (Free Zone) 108 Administrative Office: Haci Seremet Mevkii
Velimese Kasabasi Corlu – Tekirdag (owned by Gunoz Tekstil ve Kimya Isl. Sanayi ve Ticaret Ltd. Sti) |
|
TREND OF BUSINESS : Downwards
COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Upper-moderate
FINANCE
|
MAIN DEALING BANKERS |
: |
Garanti Bankasi Avcilar
branch in Istanbul Garanti Bankasi
Havalimani branch in Istanbul Oyakbank Ege Serbest
Bolgesi branch in Izmir |
|
CREDIT FACILITIES |
: |
The
subject company is making active 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 04.03.2003 until 15.09.2007, there are
no protested bills and non-paid cheques registered in the name of “Gunoz Dis”
or “Tahir Gunoz”. |
COMMENT ON
FINANCIAL POSITION
|
FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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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. However The firm had
negative stockholders’ equity as of 31.12.2006. The subject is under the
burden of heavy short-term financial loans. |
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LIQUIDITY |
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Insufficient |
As of 31.12.2006 |
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PROFITABILITY |
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Operating/Net Losses |
In 2006 |
Operating/Net Losses |
Between 01.01.-30.06.2007 |
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GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
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Unfavorable - Long |
In 2006 |
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GENERAL
FINANCIAL POSITION |
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Poor |
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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 |
|
(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(1.1.-30.06.2007) |
2.98 % |
1.3733 |
1.8275 |
2.7117 |
|
(1.1.-30.09.2007) |
4.98 % |
1.3447 |
1.8084 |
2.6720 |
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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 |
5.916.674 |
|
1,00 |
|
3.408.687 |
|
1,00 |
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Cash and
Banks |
29.137 |
|
0,00 |
|
2.377 |
|
0,00 |
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Marketable
Securities |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Account
Receivable |
3.164.929 |
|
0,53 |
|
1.341.075 |
|
0,39 |
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Other
Receivable |
1.841.517 |
|
0,31 |
|
1.752.867 |
|
0,51 |
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Inventories |
712.723 |
|
0,12 |
|
310.077 |
|
0,09 |
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Advances
Given |
168.368 |
|
0,03 |
|
2.291 |
|
0,00 |
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Other
Current Assets |
0 |
|
0,00 |
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0 |
|
0,00 |
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NON-CURRENT ASSETS |
0 |
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0,00 |
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0 |
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0,00 |
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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) |
0 |
|
0,00 |
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0 |
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0,00 |
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Intangible
Assets |
0 |
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0,00 |
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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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0 |
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0,00 |
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TOTAL ASSETS |
5.916.674 |
|
1,00 |
|
3.408.687 |
|
1,00 |
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CURRENT LIABILITIES |
5.318.996 |
|
0,90 |
|
3.521.125 |
|
1,03 |
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Financial
Loans |
5.089.866 |
|
0,86 |
|
3.210.531 |
|
0,94 |
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Accounts
Payable |
213.474 |
|
0,04 |
|
129.580 |
|
0,04 |
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Loans from
Owner |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Other
Short-term Payable |
8.700 |
|
0,00 |
|
8.700 |
|
0,00 |
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Advances
from Customers |
0 |
|
0,00 |
|
164.956 |
|
0,05 |
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Taxes
Payable |
6.956 |
|
0,00 |
|
7.358 |
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0,00 |
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Provisions |
0 |
|
0,00 |
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0 |
|
0,00 |
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Other
Current Liabilities |
0 |
|
0,00 |
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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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0 |
|
0,00 |
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Financial
Loans |
0 |
|
0,00 |
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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
Owner |
0 |
|
0,00 |
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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 |
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0 |
|
0,00 |
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STOCKHOLDERS' EQUITY |
597.678 |
|
0,10 |
|
-112.438 |
|
-0,03 |
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TOTAL LIABILITIES AND EQUITY |
5.916.674 |
|
1,00 |
|
3.408.687 |
|
1,00 |
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INCOME STATEMENTS |
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|
YTL |
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YTL |
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|
YTL |
|
|
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|
|
2005 |
|
|
|
2006 |
|
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|
1.1.-30.06.07 |
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Net Sales |
2.248.987 |
|
1,00 |
|
1.327.036 |
|
1,00 |
|
482.400 |
|
1,00 |
|
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|
Cost of
Goods Sold |
1.477.973 |
|
0,66 |
|
1.078.297 |
|
0,81 |
|
387.877 |
|
0,80 |
|
|
|
Gross Profit |
771.014 |
|
0,34 |
|
248.739 |
|
0,19 |
|
94.523 |
|
0,20 |
|
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Operating
Expenses |
266.494 |
|
0,12 |
|
315.008 |
|
0,24 |
|
141.852 |
|
0,29 |
|
|
|
Operating Profit |
504.520 |
|
0,22 |
|
-66.269 |
|
-0,05 |
|
-47.329 |
|
-0,10 |
|
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Other
Income |
673.247 |
|
0,30 |
|
752.197 |
|
0,57 |
|
77.500 |
|
0,16 |
|
|
|
Other
Expenses |
692.775 |
|
0,31 |
|
1.025.360 |
|
0,77 |
|
28.321 |
|
0,06 |
|
|
|
Financial
Expenses |
221.163 |
|
0,10 |
|
370.684 |
|
0,28 |
|
53.746 |
|
0,11 |
|
|
|
Profit (loss) Before Tax |
263.829 |
|
0,12 |
|
-710.116 |
|
-0,54 |
|
-51.896 |
|
-0,11 |
|
|
|
Tax
Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
0 |
|
0,00 |
|
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Net Profit (loss) |
263.829 |
|
0,12 |
|
-710.116 |
|
-0,54 |
|
-51.896 |
|
-0,11 |
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FINANCIAL RATIOS |
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2005 |
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2006 |
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1.1.-30.06.07 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,11 |
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|
0,97 |
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|
-- |
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Acid-Test Ratio |
0,95 |
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|
0,88 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,12 |
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|
0,09 |
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|
-- |
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Short-term Receivable/Total Assets |
0,85 |
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|
0,91 |
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|
-- |
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Tangible Assets/Total Assets |
0,00 |
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|
0,00 |
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-- |
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TURNOVER RATIOS |
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Inventory Turnover |
2,07 |
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|
3,48 |
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-- |
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Stockholders' Equity Turnover |
3,76 |
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|
-11,80 |
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-- |
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Asset Turnover |
0,38 |
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|
0,39 |
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-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,10 |
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|
-0,03 |
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|
-- |
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Current Liabilities/Total Assets |
0,90 |
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|
1,03 |
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|
-- |
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Financial Leverage |
0,90 |
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|
1,03 |
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|
-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,44 |
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|
6,32 |
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-- |
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Operating Profit Margin |
0,22 |
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|
-0,05 |
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|
-0,10 |
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Net Profit Margin |
0,12 |
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|
-0,54 |
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|
-0,11 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
506,62 |
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|
363,81 |
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|
-- |
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Average Payable Period (days) |
52,00 |
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|
43,26 |
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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%)