MIRA
INFORM REPORT
|
Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
YIGITOGLU GIDA VE KIMYEVI MADDELER SANAYI VE TICARET LTD. STI. |
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Registered Office : |
Nispetiye Caddesi Birlik Sokak Nevin Arican Plaza No: 8 K.4/5
1. Levent- Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
07.06.1991 |
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Com. Reg. No.: |
276080 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of Chemicals. Representation and
Distribution of Cleaning Systems and Products, Textile, Food and Cosmetic
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 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
YIGITOGLU GIDA VE KIMYEVI MADDELER SANAYI VE TICARET LTD. STI. |
|
ADDRESS |
: |
Head Office: Nispetiye Caddesi Birlik
Sokak Nevin Arican Plaza No: 8
K.4/5 1. Levent- Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-284 43 37 (Pbx) 90-212-283 68 34 90-212-279 51 37 |
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FAX NUMBER |
: |
90-212-282 81 49 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE |
: |
Bogazici Kurumlar / 9810002379 |
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REGISTRATION NUMBER |
: |
276080 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
07.06.1991 (Commercial Registry Gazette
Date/No: 13.06.1991/2797) |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 12,000,000 |
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HISTORY |
: |
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|
|
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Previous Address |
: Nispetiye Cad. Fecri Ebcioglu Sok. No:
16/12 1. Levent Istanbul |
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|
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Previous Shareholders |
: Emrullah
Yigitoglu (50 %) Hayrettin Yigitoglu
(25 %) Suat Yigitoglu
(25 %) |
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|
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Shareholders Changed On |
:15.12.2006 (Commercial Registry Gazette
Date/No: 20.12.2006/6708) |
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Other Historical Events |
: The registered capital was increased
from YTL 100,000 to YTL 1,250,000 on 31.12.2002
(Commercial Registry Gazette Date/No:10.01.2003/5715) The registered capital was increased from
YTL 1,250,000 to YTL 5,192,257.91 on 14.04.2008 Commercial Registry Gazette
Date/No:17.04.2008/7044).On the same date, the firm transferred some of the
assets to "Ecopol Kimya San ve Tic AS"(YTL 1,565,370.54)and
"Kiner Gayrimenkul Ins.Tur.Tic.AS" (YTL 2,376,887.37). So the
registered capital was decreased from YTL 5,192,257.91 to YTL 1,250,000. The registered capital was increased from
YTL 1,250,000 to YTL 12,000,000 on 26.06.2008 (Commercial Registry Gazette
Date/No: 02.07.2008 / 7096) |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Emrullah
Yigitoglu Hayrettin Yigitoglu Suat Yigitoglu Emine Acar Remziye Ozben |
51 % 24 % 24 % 0,5 % 0,5 % |
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SISTER COMPANIES |
: |
Rubin Temizlik ve
Kimyevi Maddeler Sanayi Ticaret Ltd. Sti. |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
Emrullah
Yigitoglu Hayrettin Yigitoglu Suat Yigitoglu |
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OPERATIONS
|
BUSINESS ACTIVITIES |
: |
Manufacture of chemicals. Representation
and distribution of cleaning systems and products, textile, food and cosmetic
chemicals. It has declared that the firm is the representative
of Rita Corporation (U.S.A.), Wetrok AG and the distributor of FHP GmbH,
Henkel Ecolab, Eczacibasi Girisim Pazarlama, Elif Plastik, Turk Henkel,
Cognis Degussa, Henkel Pulcra. |
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TRADEMARK(S) |
: |
None |
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NUMBER OF
EMPLOYEES |
: |
140 |
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NET SALES |
: |
(YTL) 53,284,000 |
(2005) |
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IMPORT VALUE |
: |
USD 2,250,000 USD 2,500,000 USD 3,000,000 USD 5,500,000 USD 9,000,000 |
(2001) (2002) (2003) (2004) (2005) |
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IMPORT COUNTRIES |
: |
China, U.S.A., Germany, Italy, France, U.K., Brazil, Peru, India |
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MERCHANDISE
IMPORTED |
: |
Food, textile, detergents and cosmetic
chemicals |
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EXPORT VALUE |
: |
None None USD 250,000 |
(2003) (2004) (1.1.-30.9.2005) |
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EXPORT COUNTRIES |
: |
Azerbaijan, Germany, Jordon, Northern
Cyprus Turkish Republic, Poland, Syria, Sudan… |
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MERCHANDISE
EXPORTED |
: |
Chemicals |
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PREMISES |
: |
Head Office: Nispetiye Caddesi Birlik
Sokak Nevin Arican Plaza No: 8
K.4/5 1. Levent Istanbul (1,000 sqm) (rented) Warehouse/Techical Service: Baglar
Mahallesi Ataturk Caddesi Gunesli 1.Levent Istanbul (rented) Warehouse: Baglar Mah. Yalcin Korej Cad.
Nergiz Sok. No:1 Gunesli Istanbul / Turkey (rented) Factory/Warehouse: Tavsantepe Mevkii Yulafli Koyu TEM Yolu 3.
Km Corlu- Tekirdag (6,000 sqm closed area over a land of 42,00 sqm) (owned) |
FINANCE
|
MAIN DEALING BANKERS |
: |
Yapi ve Kredi Bankasi 4 Levent branch in
Istanbul Akbank Zincirlikuyu branch in Istanbul Anadolubank Merkez branch
in Istanbul Denizbank
Zincirlikuyu branch in Istanbul Garanti Bankasi
Maslak Bulvar branch in Istanbul |
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PAYMENT BEHAVIOR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
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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. |
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2001) |
88.60 % |
1.1991 |
1.0714 |
1.7300 |
|
(2002) |
30.80 % |
1.5168 |
1.3741 |
2.2001 |
|
(2003) |
13.90 % |
1.5302 |
1.7141 |
2.4982 |
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(2004) |
13.84 % |
1.4266 |
1.7666 |
2.6001 |
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(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(1.1.-30.09.2007) |
4.98 % |
1.3447 |
1.8084 |
2.6720 |
|
(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-31.07.2008) |
15.18 % |
1.2161 |
1.8679 |
2.4151 |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.23 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.63.80 |
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 |
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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%)