MIRA
INFORM REPORT
|
Report Date : |
08.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
OZAYDIN KIMYA TEKSTIL SANAYI VE TICARET LTD. STI. |
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Registered Office : |
3. Organize Sanayi Bolgesi Celal Dogan Bulvari 18 nolu Cad. No:28 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23.10.2001 |
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Com. Reg. No.: |
23504-23148 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trade of chemicals such as dye. |
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
|
NAME |
: |
OZAYDIN KIMYA TEKSTIL SANAYI VE TICARET LTD. STI. |
|
ADDRESS |
: |
Head Office: 3. Organize Sanayi Bolgesi
Celal Dogan Bulvari 18 nolu Cad. No:28 However at Commercial Registry, the
address is still shown as “2. Organize Sanayi Bolgesi Sosyal Tesisler A Blok
No: 10 |
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PHONE NUMBER |
: |
90-342-337 88 88 |
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FAX NUMBER |
: |
90-342-337 88 91 |
LEGAL STATUS AND
HISTORY
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TAX OFFICE / NO |
: |
Sehit Kamil / 6640210685 |
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REGISTRATION NUMBER |
: |
23504-23148 |
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REGISTERED OFFICE |
: |
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DATE ESTABLISHED |
: |
23.10.2001 (Commercial Registry Gazette
Date/No: 15.11.2001 / 5425) |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 500,000 |
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PAID-IN CAPITAL |
: |
YTL 500,000 |
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HISTORY |
: |
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Previous
Registered Capital |
: YTL 100,000 |
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Regist. Capital Changed on |
: 12.12.2006 (Commercial Registry Gazette
Date/No: 21.12.2006 / 6709) |
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OWNERSHIP /
MANAGEMENT
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SHAREHOLDERS |
: |
Sezai Aydin Deniz Aydin |
97,5 %
2,5 % |
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SISTER COMPANIES |
: |
Declared to be: None |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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DIRECTOR |
: |
Sezai Aydin |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Trade of chemicals such as dye |
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SECTOR |
: |
Commerce |
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NUMBER OF
EMPLOYEES |
: |
10 |
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NET SALES |
: |
(YTL) 2,623,263 4,265,536 3,127,822 |
(2005) (2006) (01.01.-30.06.2007) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
YTL 1,179,706 YTL 2,062,577 YTL 1,505,392 |
(2005) (2006) (01.01.-30.06.2007) |
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IMPORT COUNTRIES |
: |
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MERCHANDISE
IMPORTED |
: |
Dye |
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EXPORT VALUE |
: |
None |
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PREMISES |
: |
Head Office: 3. Organize Sanayi Bolgesi
Celal Dogan Bulvari 18 nolu Cad. No:28 Warehouse: Cumhuriyet Mah. Vatan Cad. No:
24/A Velikoy – Cerkezkoy / Tekirdag (rented) |
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TREND OF BUSINESS : Upwards
COMMERCIAL MORALITY : Good
SIZE OF BUSINESS : Upper-moderate
FINANCE
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MAIN DEALING BANKERS |
: |
Halkbank Sehit Kamil branch in Turk Ekonomi Bankasi Gaziantep branch in Turkiye Is
Bankasi Organize Sanayi branch in |
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CREDIT FACILITIES |
: |
The subject company rarely makes
use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No complaints have been heard regarding
payments from banks. According to the official
registries between 01.01.2000-15.07.2007, there are no protested bills and non-paid
cheques registered in the name of
“Ozaydin Kimya” |
COMMENT ON FINANCIAL
POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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Capitalization was low as of 31.12.2006. A part of liabilities was due
to loans from shareholders but major part of liabilities was due to accounts
payable as of 31.12.2006. |
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LIQUIDITY |
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Good |
As of 31.12.2006 |
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PROFITABILITY |
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Low |
In 2006 |
Fair |
Between 01.01.-30.06.2007 |
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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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Capitalization was low but liquidity was good as of 31.12.2006.
Profitability was low in 2006 but fair between 01.01.-30.06.2007. |
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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 |
2.104.136 |
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0,95 |
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2.252.969 |
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0,83 |
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Cash and Banks |
21.698 |
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0,01 |
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574.615 |
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0,21 |
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Marketable
Securities |
0 |
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0,00 |
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0 |
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0,00 |
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Account
Receivable |
1.604.117 |
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0,73 |
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1.270.937 |
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0,47 |
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Other
Receivable |
0 |
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0,00 |
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0 |
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0,00 |
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Inventories |
433.200 |
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0,20 |
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397.228 |
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0,15 |
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Advances
Given |
0 |
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0,00 |
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10.189 |
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0,00 |
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Other
Current Assets |
45.121 |
|
0,02 |
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0 |
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0,00 |
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NON-CURRENT ASSETS |
107.077 |
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0,05 |
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465.754 |
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0,17 |
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Long-term
Receivable |
0 |
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0,00 |
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284.440 |
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0,10 |
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Financial
Assets |
0 |
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0,00 |
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0 |
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0,00 |
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Tangible
Fixed Assets (net) |
104.864 |
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0,05 |
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176.606 |
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0,06 |
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Intangible
Assets |
2.213 |
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0,00 |
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4.708 |
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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 |
2.211.213 |
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1,00 |
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2.718.723 |
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1,00 |
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CURRENT LIABILITIES |
1.962.619 |
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0,89 |
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2.175.176 |
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0,80 |
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Financial
Loans |
106.204 |
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0,05 |
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31.000 |
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0,01 |
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Accounts
Payable |
833.885 |
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0,38 |
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1.854.349 |
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0,68 |
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Loans from
Shareholders |
1.018.000 |
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0,46 |
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181.177 |
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0,07 |
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Other
Short-term Payable |
0 |
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0,00 |
|
69.150 |
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0,03 |
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Advances
from Customers |
0 |
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0,00 |
|
28.657 |
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0,01 |
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Taxes Payable |
4.530 |
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0,00 |
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10.843 |
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0,00 |
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Provisions |
0 |
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0,00 |
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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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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 |
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0,00 |
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Financial
Loans |
0 |
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0,00 |
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0 |
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0,00 |
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Securities
Issued |
0 |
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0,00 |
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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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0 |
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0,00 |
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Loans from
Shareholders |
0 |
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0,00 |
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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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0 |
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0,00 |
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Provisions |
0 |
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0,00 |
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0 |
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0,00 |
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STOCKHOLDERS' EQUITY |
248.594 |
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0,11 |
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543.547 |
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0,20 |
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Paid-in
Capital |
100.000 |
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0,05 |
|
500.000 |
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0,18 |
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Inflation
Adjustment of Capital |
36.231 |
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0,02 |
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0 |
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0,00 |
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Reserves |
72.369 |
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0,03 |
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3.797 |
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0,00 |
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Revaluation Fund |
0 |
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0,00 |
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0 |
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0,00 |
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Accumulated Losses(-) |
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) |
39.994 |
|
0,02 |
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39.750 |
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0,01 |
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TOTAL LIABILITIES AND EQUITY |
2.211.213 |
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1,00 |
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2.718.723 |
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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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YTL |
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2005 |
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2006 |
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|
1.1.-30.06.07 |
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Net Sales |
2.623.263 |
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1,00 |
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4.265.536 |
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1,00 |
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3.127.822 |
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1,00 |
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Cost of
Goods Sold |
2.455.684 |
|
0,94 |
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3.941.863 |
|
0,92 |
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2.934.819 |
|
0,94 |
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Gross Profit |
167.579 |
|
0,06 |
|
323.673 |
|
0,08 |
|
193.003 |
|
0,06 |
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Operating
Expenses |
104.818 |
|
0,04 |
|
166.797 |
|
0,04 |
|
102.166 |
|
0,03 |
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Operating Profit |
62.761 |
|
0,02 |
|
156.876 |
|
0,04 |
|
90.837 |
|
0,03 |
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Other Income |
22.758 |
|
0,01 |
|
205.672 |
|
0,05 |
|
162.957 |
|
0,05 |
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Other
Expenses |
20.963 |
|
0,01 |
|
284.609 |
|
0,07 |
|
86.007 |
|
0,03 |
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Financial
Expenses |
7.231 |
|
0,00 |
|
27.007 |
|
0,01 |
|
47.877 |
|
0,02 |
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Profit (loss) Before Tax |
57.325 |
|
0,02 |
|
50.932 |
|
0,01 |
|
119.910 |
|
0,04 |
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Tax
Payable |
17.331 |
|
0,01 |
|
11.182 |
|
0,00 |
|
0 |
|
0,00 |
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Net Profit (loss) |
39.994 |
|
0,02 |
|
39.750 |
|
0,01 |
|
119.910 |
|
0,04 |
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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 |
1,07 |
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1,04 |
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-- |
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Acid-Test Ratio |
0,83 |
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0,85 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,20 |
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0,15 |
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-- |
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Short-term Receivable/Total Assets |
0,73 |
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0,47 |
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-- |
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Tangible Assets/Total Assets |
0,05 |
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0,06 |
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-- |
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TURNOVER RATIOS |
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Inventory Turnover |
5,67 |
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9,92 |
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-- |
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Stockholders' Equity Turnover |
10,55 |
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7,85 |
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-- |
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Asset Turnover |
1,19 |
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1,57 |
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-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,11 |
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0,20 |
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-- |
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Current Liabilities/Total Assets |
0,89 |
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|
0,80 |
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-- |
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Financial Leverage |
0,89 |
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|
0,80 |
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-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,16 |
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|
0,07 |
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-- |
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Operating Profit Margin |
0,02 |
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0,04 |
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0,03 |
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Net Profit Margin |
0,02 |
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|
0,01 |
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0,04 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
220,14 |
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131,27 |
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-- |
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Average Payable Period (days) |
122,25 |
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|
169,35 |
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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 |
|
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%)