MIRA INFORM REPORT

 

 

Report Date :

08.09.2007

 

IDENTIFICATION DETAILS

 

Name :

INCEDAL AMBALAJ SANAYI VE TICARET LTD. STI.

 

 

Registered Office :

Ismetpasa Mah. Inonu Cad. No:203/C Gaziantep

 

 

Country :

Turkey

 

 

Date of Incorporation :

23.12.1996

 

 

Com. Reg. No.:

18982

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Sewing and trade of sack

 

 

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

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

INCEDAL AMBALAJ SANAYI VE TICARET LTD. STI.

ADDRESS

:

Head Office & Sewing Plant: Ismetpasa Mah. Inonu Cad. No:203/C Gaziantep / Turkey

PHONE NUMBER

:

90-342-232 77 03

FAX NUMBER

:

90-342-232 65 51

 

 

LEGAL STATUS AND HISTORY

 

 

TAX NO

:

4770028185

REGISTRATION NUMBER

:

18982

REGISTERED OFFICE

:

Gaziantep Chamber of Commerce

DATE ESTABLISHED

:

23.12.1996 (Commercial Registry Gazette Date/No: 03.01.1997/4201)

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

YTL 150,000

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

 

:

Eyyup Halil Incedal

Mustafa Incedal

 

50 %

50 %

DIRECTORS

:

Eyyup Halil Incedal

General Manager

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Sewing and trade of sack

 

NET SALES

:

n.a.

 

 

 

 

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.

 

PREMISES

:

Head Office & Sewing Plant: Ismetpasa Mah. Inonu Cad. No:203/C Gaziantep

 

COMMERCIAL MORALITY         :           Good

 

 

FINANCE

 

 

PAYMENT BEHAVIOUR

:

According to the official registries between 01.01.2000-15.07.2007, there are no protested bills and non-paid cheques registered in the name of  “Incedal Ambalaj”

 

 

COMMENT ON FINANCIAL POSITION

 

 

GENERAL FINANCIAL

POSITION

 

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.

 

 

 

 

Incr. in producers’ price index

 

Average YTL/$

Average YTL/EUR

Average YTL/GBP

(2006)

11.58 %

1.4309

1.7987

2.6377

(1.1.-31.08.2007)

3.93 %

1.3597

1.8186

2.6959

 

 

 

 

                                      


 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions