MIRA
INFORM REPORT
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Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PULKRA KIMYA SANAYI TIC A S |
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Registered Office : |
Sirasogutler Mah. |
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Country : |
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Date of Incorporation : |
08.05.2007 (Commercial Registry Gazette Date / No: 15.05.2007 / 6808) |
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Com. Reg. No.: |
10880 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of chemicals of textile and leather |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY
IDENTIFICATION
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NAME |
: |
PULCRA KIMYA SANAYI VE TICARET A.S. |
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ADDRESS |
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Head Office & Factory: Sirasogutler Mah. |
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PHONE NUMBER |
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90-262-679 30 00 |
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FAX NUMBER |
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90-262-653 70 04 90-262-679 31 22 |
LEGAL STATUS AND
HISTORY
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TAX OFFICE/NO |
: |
Ulucinar/7330346496 |
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REGISTRATION NUMBER |
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10880 |
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REGISTERED OFFICE |
: |
Gebze Chamber of Commerce |
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DATE ESTABLISHED |
: |
08.05.2007 (Commercial Registry Gazette Date / No: 15.05.2007 / 6808) |
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LEGAL FORM |
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Joint Stock Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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YTL 20,507,135.50 |
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HISTORY |
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The registered capital of the subject was increased from YTL 50,000 to
YTL 20,507,135.50 on 02.07.2007 (Commercial Registry Gazette Date / No:
06.07.2007 / 6846). The increase is financed by the transfer of tangible
assets of the sister company of the
subject “COGNIS KIMYA SANAYI VE TICARET A.S.” related to “Textile and Leather
Chemicals Manufacturing”. |
OWNERSHIP /
MANAGEMENT
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SHAREHOLDERS |
: |
Pulcra Chemicals GmbH Yusuf Aktalay Kudret Gunduz Gul Fatma Begum Dilmen Ali Volkan Candar |
99,99 % |
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Main shares are held by a foreign company. |
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SISTER COMPANIES |
: |
-Cognis Kimya Sanayi ve Ticaret A.S. |
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SUBSIDIARIES |
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None |
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BOARD OF DIRECTORS |
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Yusuf Aktalay Kudret Gunduz Gul Aykut Boru Fatma Begum Dilmen |
Chairman Vice-Chairman Member Member |
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DIRECTORS |
: |
Kudret Gunduz Gul |
General Manager |
OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of chemicals of textile and leather. “COGNIS KIMYA SANAYI VE TICARET A.S.” transferred manufacturing
activity of chemical materials to be used at leather and textile sectors, its
personnel employed for that activity, and its facilities at Menemen Free
Zone-Izmir, Corlu-Tekirdag, Bursa, Tuzla-Istanbul to “PULCRA KIMYA SANAYI VE
TICARET A.S.” on 02.07.2007 (Commercial Registry Gazette Date / No:
06.07.2007 / 6846). |
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SECTOR |
: |
Chemicals |
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NUMBER OF EMPLOYEES |
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87 |
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NET SALES |
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(YTL) 16,321,679 |
(08.05.-30.09.2007) |
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IMPORT COUNTRIES |
: |
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MERCHANDISE IMPORTED |
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Raw materials |
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EXPORT VALUE |
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(YTL) 1,455,886 |
(08.05.-30.09.2007) |
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EXPORT COUNTRIES |
: |
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MERCHANDISE EXPORTED |
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Acrylic polymers, detergents, finishing agents, enzymes |
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PREMISES |
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Head Office & Factory: Sirasogutler Mah. Branch: 2nd Branch: Istasyon Mah. Basaran Sok. No: 55 Velimese
Corlu 3rd Branch: Yeni Yalova Yolu Buttim Is Merkezi E Blok No:
293 Osmangazi 4th Branch: Menemen Serbest Bolgesi (Free Zone) |
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FIXED CAPITAL INVESTMENTS |
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None |
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TREND OF BUSINESS |
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Undetermined; recently established business. |
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COMMERCIAL MORALITY |
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Good |
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SIZE OF BUSINESS |
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Large |
FINANCE
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MAIN DEALING BANKERS |
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Garanti Bankasi Kozyatagi Kurumsal branch in T. Is Bankasi Kozyatagi Kurumsal branch in Akbank Dogu Kurumsal branch in |
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PAYMENT BEHAVIOUR |
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According to the official registries since its establishment on
08.05.2007 till 15.09.2007, there are no protested bills and non-paid cheques
registered in the name of “Pulcra
Kimya”. The subject is a recent establishment but its sister company “Cognis
Kimya” is a reputable firm known with its good payment behavior. |
COMMENT ON
FINANCIAL POSITION
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GENERAL FINANCIAL POSITION |
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Although the firm was established on 08.05.2007 its profitability was
in order profitability between 08.05.2007-30.09.2007. |
CREDIT OPINION
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CREDIT OPINION WITHOUT OBLIGATION |
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The subject is a recent establishment but it has taken the activity of
a well-established reputable company. So, although the subject is a recent
establishment, we consider a medium amount of credit may be granted to the
subject. |
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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.-30.09.2007) |
4.98 % |
1.3447 |
1.8084 |
2.6720 |
INCOME STATEMENTS
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YTL |
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08.05.-30.09.2007 |
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Net Sales |
16.321.679 |
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1,00 |
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Cost of
Goods Sold |
11.632.506 |
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0,71 |
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Gross Profit |
4.689.173 |
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0,29 |
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Operating
Expenses |
3.916.637 |
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0,24 |
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Operating Profit |
772.536 |
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0,05 |
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Other
Income |
1.269.142 |
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0,08 |
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Other
Expenses |
864.698 |
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0,05 |
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Financial
Expenses |
341.368 |
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0,02 |
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Profit (loss) Before Tax |
835.612 |
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0,05 |
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Tax
Payable |
232.903 |
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0,01 |
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Net Profit (loss) |
602.709 |
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0,04 |
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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 |
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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%)