MIRA
INFORM REPORT
|
Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GULDEM KIMYA SANAYI VE TICARET LTD.STI. |
|
|
|
|
Registered Office : |
1. Organize Sanayi Bolgesi 14 Nolu Sok. No:12 Sehitkamil-Gaziantep |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
27.09.2007 |
|
|
|
|
Com. Reg. No.: |
30418 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture and Trade of Textile 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 |
|
Maximum Credit Limit : |
USD 4,000 |
|
|
|
|
Status : |
New and Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
GULDEM KIMYA SANAYI VE TICARET LTD.STI. |
|
ADDRESS |
: |
Head Office/Workshop : 1. Organize Sanayi
Bolgesi 14 Nolu Sok. No:12 Sehitkamil-Gaziantep / Turkey |
|
PHONE NUMBER |
: |
90-342-337 23 11 |
|
FAX NUMBER |
: |
90-342-337 18 59 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Sehitkamil / 4150488698 |
|
REGISTRATION NUMBER |
: |
30418 |
|
REGISTERED OFFICE |
: |
Gaziantep Chamber of Commerce |
|
DATE ESTABLISHED |
: |
27.09.2007 (Commercial Registry Gazette
Date/No:10.10.2007/6913) |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
YTL 50,000 |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Selim Dede Oya Dede |
99 % 1 % |
|
GROUP PARENT COMPANY |
: |
None |
|
|
SUBSIDIARIES |
: |
None |
|
|
DIRECTORS |
: |
Selim Dede |
|
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Manufacture and trade of textile chemicals |
|
|
SECTOR |
: |
Chemicals |
|
|
TRADEMARK(S) |
: |
None |
|
|
NUMBER OF
EMPLOYEES |
: |
3 |
|
|
NET SALES |
: |
(YTL) 262,399 |
(27.09.-31.12.2007) |
|
IMPORT COUNTRIES |
: |
Italy, India |
|
|
MERCHANDISE IMPORTED |
: |
Raw materials |
|
|
EXPORT |
: |
None |
|
|
PREMISES |
: |
Head Office/Workshop : 1. Organize Sanayi
Bolgesi 14 Nolu Sok. No:12 Sehitkamil-Gaziantep (owned by shareholders) |
|
|
TREND OF
BUSINESS |
: |
Undetermined, young business |
|
SIZE OF BUSINESS |
: |
Small |
FINANCE
|
MAIN DEALING BANKERS |
: |
Garanti Bankasi Suburcu branch in
Gaziantep |
|
CREDIT FACILITIES |
: |
No credit facility has come to our
knowledge. |
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
|
FINANCIAL STRUCTURE
(SUFFICENCY OF OWN RESOURCES) |
||
|
Low |
As of 31.12.2007 |
|
|
LIQUIDITY |
||
|
Good |
As of 31.12.2007 |
|
|
PROFITABILITY |
||
|
High |
Between 27.09.-31.12.2007 |
|
|
GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
||
|
In order |
Between 27.09.-31.12.2007 |
|
|
GENERAL
FINANCIAL POSITION |
||
|
Capitalization was low but Liquidity was good and profitability was
high between 27.09-31.12.2007. |
||
CREDIT OPINION
|
CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit
of USD 4,000 may be granted to the subject company. |
|
|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-31.03.2008) |
6.26 % |
1.2033 |
1.8179 |
2.3972 |
BALANCE SHEETS
|
|
|
YTL |
|
|
|
|
|
|
31.12.07 |
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
159.941 |
|
0,97 |
|
|
|
Cash and
Banks |
7.722 |
|
0,05 |
|
|
|
Marketable Securities |
0 |
|
0,00 |
|
|
|
Account
Receivable |
145.429 |
|
0,88 |
|
|
|
Other
Receivable |
0 |
|
0,00 |
|
|
|
Inventories |
2.750 |
|
0,02 |
|
|
|
Advances Given |
0 |
|
0,00 |
|
|
|
Other
Current Assets |
4.040 |
|
0,02 |
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS |
5.366 |
|
0,03 |
|
|
|
Long-term
Receivable |
0 |
|
0,00 |
|
|
|
Financial
Assets |
0 |
|
0,00 |
|
|
|
Tangible
Fixed Assets (net) |
5.366 |
|
0,03 |
|
|
|
Intangible Assets |
0 |
|
0,00 |
|
|
|
Other Non-Current
Assets |
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
165.307 |
|
1,00 |
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
136.691 |
|
0,83 |
|
|
|
Financial
Loans |
0 |
|
0,00 |
|
|
|
Accounts
Payable |
127.949 |
|
0,77 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
|
|
Other
Short-term Payable |
0 |
|
0,00 |
|
|
|
Advances
from Customers |
0 |
|
0,00 |
|
|
|
Taxes
Payable |
4.702 |
|
0,03 |
|
|
|
Provisions |
4.040 |
|
0,02 |
|
|
|
Other
Current Liabilities |
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
LONG-TERM LIABILITIES |
0 |
|
0,00 |
|
|
|
Financial
Loans |
0 |
|
0,00 |
|
|
|
Securities Issued |
0 |
|
0,00 |
|
|
|
Long-term
Payable |
0 |
|
0,00 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
|
|
Other
Long-term Liabilities |
0 |
|
0,00 |
|
|
|
Provisions |
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
28.616 |
|
0,17 |
|
|
|
Paid-in
Capital |
12.500 |
|
0,08 |
|
|
|
Reserves |
0 |
|
0,00 |
|
|
|
Revaluation Fund |
0 |
|
0,00 |
|
|
|
Accumulated Losses(-) |
0 |
|
0,00 |
|
|
|
Net
Profit (loss) |
16.116 |
|
0,10 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
165.307 |
|
1,00 |
|
INCOME
STATEMENTS
|
|
|
YTL |
|
|
|
|
|
|
27.09-31.12.2007 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
262.399 |
|
1,00 |
|
|
|
Cost of Goods
Sold |
232.948 |
|
0,89 |
|
|
|
Gross Profit |
29.451 |
|
0,11 |
|
|
|
Operating
Expenses |
9.252 |
|
0,04 |
|
|
|
Operating Profit |
20.199 |
|
0,08 |
|
|
|
Other
Income |
0 |
|
0,00 |
|
|
|
Other
Expenses |
43 |
|
0,00 |
|
|
|
Financial
Expenses |
0 |
|
0,00 |
|
|
|
Profit (loss) Before Tax |
20.156 |
|
0,08 |
|
|
|
Tax
Payable |
4.040 |
|
0,02 |
|
|
|
Net Profit (loss) |
16.116 |
|
0,06 |
|
FINANCIAL
RATIOS
|
|
|
|
|
|
|
|
|
|
27.09-31.12.2007 |
|
|
|
|
|
LIQUIDITY RATIOS |
|
|
|
|
|
|
Current Ratio |
1,17 |
|
|
|
|
|
Acid-Test Ratio |
1,12 |
|
|
|
|
|
|
|
|
|
|
|
|
ASSET STRUCTURE RATIOS |
|
|
|
|
|
|
Inventory/Total Assets |
0,02 |
|
|
|
|
|
Short-term Receivable/Total Assets |
0,88 |
|
|
|
|
|
Tangible Assets/Total Assets |
0,03 |
|
|
|
|
|
|
|
|
|
|
|
|
TURNOVER RATIOS |
|
|
|
|
|
|
Inventory Turnover |
84,71 |
|
|
|
|
|
Stockholders' Equity Turnover |
9,17 |
|
|
|
|
|
Asset Turnover |
1,59 |
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STRUCTURE |
|
|
|
|
|
|
Stockholders' Equity/Total Assets |
0,17 |
|
|
|
|
|
Current Liabilities/Total Assets |
0,83 |
|
|
|
|
|
Financial Leverage |
0,83 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFITABILITY RATIOS |
|
|
|
|
|
|
Net Profit/Stockholders' Eq. |
0,56 |
|
|
|
|
|
Operating Profit Margin |
0,08 |
|
|
|
|
|
Net Profit Margin |
0,06 |
|
|
|
|
|
|
|
|
|
|
|
|
COLLECTION-PAYMENT |
|
|
|
|
|
|
Average Collection Period (days) |
199,52 |
|
|
|
|
|
Average Payable Period (days) |
197,73 |
|
|
|
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%)