MIRA INFORM REPORT

 

 

Report Date :

20.09.2007

 

IDENTIFICATION DETAILS

 

Name :

KROMSAN DIS TICARET VE SANAYI LIMITED STI

 

 

Registered Office :

Sti, Cakmakli Hadimkoy, Youl, Kirac Kavsagi Atesogul, Yogurt, Karsisi, Hanimkoy,

 

 

Country :

Turkey

 

 

Date of Incorporation :

16.11.1994

 

RATING & COMMENTS

 

MIRA’s Rating :

NR

 

RATING

STATUS

PROPOSED CREDIT LINE

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

Status :

Undetermined

 


COMMERCIAL CREDIT REPORT

 

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, we are unable to interview with “KROMSAN DIS TICARET VE SANAYI LTD. STI.” at the address and phone number in your inquiry. We are informed by the neighbors that,  the subject has moved from that address and another company has been located at this address. However the new address of the firm or the shareholders is not registered at any directories or official registries. Besides there is no registry of movement at Istanbul Commercial Registry.

 

So, please find the below provided report prepared depending mainly on the information obtained from Commercial Registry:

 

The subject was established on 16.11.1994 (Commercial Registry Gazette Date / No: 06.12.1994 / 3675) under the name of “SEGEMSAN TEKSTIL IHRACAT ITHALAT DIS TICARET SANAYI VE TICARET LTD. STI.”. The name of the company was changed from “SEGEMSAN TEKSTIL IHRACAT ITHALAT DIS TICARET SANAYI VE TICARET LTD. STI.” to “KROMSAN DIS TICARET VE SANAYI LTD. STI. on 08.01.2004 (Commercial Registry Gazette Date / No: 15.01.2004 / 5968).The firm is registered at Istanbul Commercial Registry with the registration number of “320662”. The registered head office address of the firm is “Cakmakli Hadimkoy Yolu Kirac Kavsagi Atesoglu Sut Karsisi Hadimkoy Buyukcekmece Istanbul / Turkey”. However the company has not been located at this address any more. (The company moved from “Kucuk Sanayi Bolgesi Metal Is Sitesi 8. Blok No: 40 Ikitelli Kucukcekmece Istanbul” to “Cakmakli Hadimkoy Yolu Kirac Kavsagi Atesoglu Sut Karsisi Hadimkoy Buyukcekmece Istanbul” on 05.06.2007 (Commercial Registry Gazette Date / No: 11.06.2007 / 6827).

 

The registered capital of the firm is YTL 10,000. The shareholders of the firm are “Suleyman Kolcu”, “Gunay Kolcu” and “Ersin Kolcu”.

 

According to Commercial Registry the shareholders have shares at another company under the name of “KROMSAN MAKINA SANAYI LTD. STI.”. It has to be noted that on 27.07.2007, Istanbul 2. Bankruptcy office opened bankruptcy of this firm with decision no: 2007/19.

 

According to the official registries between 01.01.2000-15.08.2007, there are 25 non-paid cheques in 2005 (15 of them were paid later on) and there are 2 protested bills in 2005, 13 protested bills in 2006 and 32 protested bills in 2007 registered in the name of “Kromsan Dis”.

 

 

CREDIT OPINION

 

 

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