MIRA
INFORM REPORT
|
Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALI ATES ATES TICARET |
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|
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Registered Office : |
Turan Mahallesi Soguk Kuyu Mevki No:54 Tire Izmir |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
2202 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Manufacture and Trade of Ropes and it also
Trade of Hardware and Furnishings |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,350,000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
ALI ATES ATES TICARET |
|
ADDRESS |
: |
Head Office/Factory/Warehouse: Turan
Mahallesi Soguk Kuyu Mevki No:54 Tire Izmir / Turkey Liaison Office: Yeni Mah. Lutfupasa
Caddesi No:54 Tire Izmir / Turkey |
|
PHONE NUMBER |
: |
90-232-513 81 50 90-232-512 11 40 90-232-512 89 47 |
|
FAX NUMBER |
: |
90-232-512 73 19 90-232-512 04 87 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Tire / 47266379532 From
the beginning of year 2007,the sole proprietorships perform fiscal manipulations
with personal ID number instead of tax number. So the number of the subject
changed from 1000058572 to 47266379532 for fiscal manipulations |
|
REGISTRATION NUMBER |
: |
2202 |
|
REGISTERED OFFICE |
: |
Tire Chamber of Commerce |
|
DATE ESTABLISHED |
: |
1998 (Commercial Registry Gazette Date/No:
09.11.1998/4665) |
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LEGAL FORM |
: |
Sole-Proprietorship |
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TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
The liability of the sole-proprietorships is
not limited to the capital. The owners of the sole-proprietorships are
responsible for the debts of the sole-proprietorships with all of their
personal wealth. |
OWNERSHIP / MANAGEMENT
|
OWNER |
: |
Ali Ates The owner, Ali Ates was born on 09.09.1971
and graduated from high school Mr. Ali Ates has declared that he owns
various properties. Other companies owned by the owner are
declared to be : None |
|
DIRECTORS |
: |
Ali Ates Yakup Guven |
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Manufacture and trade of ropes and it also
trade of hardware and furnishings |
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|
NUMBER OF
EMPLOYEES |
: |
110 |
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|
NET SALES |
: |
(YTL) 7,261,704 11,076,129 11,793,047 16,826,949 |
(2004) (2005) (2006) (01.01.-30.09.2007) |
|
IMPORT VALUE |
: |
USD 3,500,000 |
(2007) |
|
IMPORT COUNTRIES |
: |
Bangladesh, China, Egypt, India, Syria,
Kenya, UK… |
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|
MERCHANDISE
IMPORTED |
: |
Raw materials, intermediary goods… |
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EXPORT VALUE |
: |
(YTL Thousand) 40 523 161 226 |
(2004) (2005) (2006) (01.01.-30.09.2007) |
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EXPORT COUNTRIES |
: |
Greece, Israel, Ukraine, Moldavia… |
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MERCHANDISE
EXPORTED |
: |
Rope |
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PREMISES |
: |
Head Office/Factory/Warehouse: Turan Mahallesi
Soguk Kuyu Mevki No:54 Tire Izmir (owned) Liaison Office: Yeni Mah. Lutfupasa
Caddesi No:54 Tire Izmir(owned) |
|
FIXED CAPITAL
INVESTMENTS |
: |
None |
|
TREND OF
BUSINESS |
: |
Trend of business was steady in 2006. There
was an upwards trend in the first 9 months of 2007. |
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SIZE OF BUSINESS |
: |
Large |
FINANCE
|
MAIN DEALING BANKERS |
: |
T.Is Bankasi Tire branch in Izmir Akbank Tire branch in Izmir |
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CREDIT FACILITIES |
: |
The subject
is making use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
|
FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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|
Capitalization was fair as of 31.12.2006. However, it has to be noted
that the liability of the sole-proprietorships is not limited to the capital.
The owners of the sole-proprietorships are responsible for the debts of the
sole-proprietorships with all of their personal wealth. Mr. Ali Ates has
declared that he owns various properties. |
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LIQUIDITY |
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Low |
As of 31.12.2006 |
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PROFITABILITY |
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Fair |
In 2006 |
In order |
Between 01.01.-30.09.2007 |
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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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Fair |
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CREDIT OPINION
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CREDIT OPINION
WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit
of USD 1,350,000 may be granted to the subject. |
|
|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
|
(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.-31.01.2008) |
0.42 % |
1.1741 |
1.7303 |
2.3417 |
BALANCE SHEETS
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YTL |
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|
31.12.06 |
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CURRENT ASSETS |
9.448.212 |
|
0,95 |
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Cash and Banks |
137.264 |
|
0,01 |
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Marketable Securities |
0 |
|
0,00 |
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Account Receivable |
1.542.034 |
|
0,15 |
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Other Receivable |
0 |
|
0,00 |
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Inventories |
5.910.559 |
|
0,59 |
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Advances Given |
0 |
|
0,00 |
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Other Current Assets |
1.858.355 |
|
0,19 |
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NON-CURRENT
ASSETS |
542.827 |
|
0,05 |
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Long-term Receivable |
0 |
|
0,00 |
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Financial Assets |
0 |
|
0,00 |
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Tangible Fixed Assets (net) |
436.102 |
|
0,04 |
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Intangible Assets |
1.467 |
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0,00 |
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Other Non-Current Assets |
105.258 |
|
0,01 |
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TOTAL ASSETS |
9.991.039 |
|
1,00 |
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CURRENT
LIABILITIES |
4.326.913 |
|
0,43 |
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Financial Loans |
912.300 |
|
0,09 |
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Accounts Payable |
3.328.462 |
|
0,33 |
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Loans from the Owner |
0 |
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0,00 |
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Other Short-term Payable |
46.802 |
|
0,00 |
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Advances from Customers |
0 |
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0,00 |
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Taxes Payable |
39.349 |
|
0,00 |
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Provisions |
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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LONG-TERM
LIABILITIES |
2.698.943 |
|
0,27 |
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Financial Loans |
0 |
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0,00 |
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Securities Issued |
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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Loans from the Owner |
0 |
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0,00 |
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Other Long-term Liabilities |
2.698.943 |
|
0,27 |
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Provisions |
0 |
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0,00 |
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STOCKHOLDERS'
EQUITY |
2.965.183 |
|
0,30 |
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TOTAL
LIABILITIES AND EQUITY |
9.991.039 |
|
1,00 |
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INCOME STATEMENTS
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YTL |
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YTL |
|
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|
2006 |
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|
1.1.-30.09.2007 |
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Net Sales |
11.793.047 |
|
1,00 |
|
16.826.949 |
|
1,00 |
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Cost of
Goods Sold |
10.929.006 |
|
0,93 |
|
15.332.665 |
|
0,91 |
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Gross Profit |
864.041 |
|
0,07 |
|
1.494.284 |
|
0,09 |
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Operating
Expenses |
437.307 |
|
0,04 |
|
726.933 |
|
0,04 |
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Operating Profit |
426.734 |
|
0,04 |
|
767.351 |
|
0,05 |
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Other
Income |
7.286 |
|
0,00 |
|
1.143 |
|
0,00 |
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Other
Expenses |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Financial
Expenses |
148.945 |
|
0,01 |
|
111.522 |
|
0,01 |
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Profit (loss) Before Tax |
285.075 |
|
0,02 |
|
656.972 |
|
0,04 |
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Tax
Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Net Profit (loss) |
285.075 |
|
0,02 |
|
656.972 |
|
0,04 |
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FINANCIAL RATIOS
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2006 |
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1.1.-30.09.2007 |
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LIQUIDITY RATIOS |
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Current Ratio |
2,18 |
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-- |
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Acid-Test Ratio |
0,39 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,59 |
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|
-- |
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Short-term Receivable/Total Assets |
0,15 |
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|
-- |
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Tangible Assets/Total Assets |
0,04 |
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|
-- |
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TURNOVER RATIOS |
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Inventory Turnover |
1,85 |
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|
-- |
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Stockholders' Equity Turnover |
3,98 |
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|
-- |
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Asset Turnover |
1,18 |
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-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,30 |
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|
-- |
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Current Liabilities/Total Assets |
0,43 |
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|
-- |
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Financial Leverage |
0,70 |
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-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,10 |
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|
-- |
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Operating Profit Margin |
0,04 |
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|
0,05 |
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Net Profit Margin |
0,02 |
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|
0,04 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
47,07 |
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|
-- |
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Average Payable Period (days) |
109,64 |
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-- |
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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%)