MIRA
INFORM REPORT
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Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRO-EKS DIS TICARET A.S. |
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Registered Office : |
Cemal Sahir Sok. No:26-28 Mecidiyekoy Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
18.01.1977 |
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Com. Reg. No.: |
143937 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Exports of Products Manufactured by
Profilo Group of Companies mainly “Profilo Telra” and Organization of Journeys
for Profilo Group. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
Note:
The name stated at your
inquiry is the name of the firm in English. The registered name of the firm is
“PRO-EKS DIS TICARET A.S.”
COMPANY IDENTIFICATION
|
NAME |
: |
PRO-EKS DIS TICARET A.S. |
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ADDRESS |
: |
Head Office: Cemal Sahir Sok. No:26-28 Mecidiyekoy
Istanbul - Turkey |
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PHONE NUMBER |
: |
90-212-274 52 41 |
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FAX NUMBER |
: |
90-212-212 09 89 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
: |
Dis Ticaret - 7330031679 |
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REGISTRATION NUMBER |
: |
143937 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
18.01.1977 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
: |
YTL 2,500,000 |
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HISTORY |
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Previous Registered Capital |
: YTL 2,000,000 |
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Regist. Capital Changed on |
: 18.01.2007 (Commercial Registry Gazette
Date/No: 23.01.2007/6729 ) |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
Profilo Holding A.S. Others |
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GROUP PARENT COMPANY |
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Profilo Holding A.S. Profilo Holding A.S. is a conglomerate
which coordinates the financial and administrative operations of Profilo
group of companies which is one of the largest groups of Turkey. |
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Main companies operating within Profilo
Group are as follows: |
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-Profilo Sanayi ve Ticaret A.S. -BSH Ev Aletleri Sanayi ve Ticaret A.S. -Pro-Eks Dis Ticaret A.S. -Profilo Endustri Isletmeleri Ve Ticaret
A.S. -Palmek Profilo Aluminyum Metal Kaplama Ve
Dograma Sanayi A.S. -Profilo Sigorta Acenteligi A.S. -Profilo Elektronik Servis A.S. -Profilo Telekom A.S. -Procam Cam Urunleri ve Ticaret A.S. -Profilo Holding A.S. -Profilo Telra Elektronik Sanayi ve
Ticaret A.S. -Elaks Elektronik Aksam Sanayi A.S. -Savunma Gerecleri Sanayi ve Ticaret AS |
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BOARD OF DIRECTORS |
: |
Goksen Korezlioglu A.Celal Canoguz Vili Kamhi Ismet Karaali |
Chairman Member Member Member |
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GENERAL MANAGER |
: |
A.Celal Canoguz |
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OPERATIONS
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BUSINESS
ACTIVITIES |
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The subject performs exports of products
manufactured by Profilo Group of companies mainly “Profilo Telra” and
organization of journeys for Profilo Group. However it has to be noted that as per
2007 the operations “Profilo Telra” have been slowed down, and due to the
debts of “Profilo Telra” there are several cases were opened by the providers
at the end of 2007. By the reason of the bankruptcy case, “Profilo Telra”
demanded deferment of bankruptcy but legal
procedure about this situation is going on. So there may be a slowdown at
business activities of the subject as well. The subject has declared that 80 % of its
business activity stems from performing foreign trade of Profilo Group of
companies and 20 % stems from
organization. |
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NUMBER OF EMPLOYEES |
: |
25 |
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NET SALES |
: |
YTL
28,003,882+USD 288,528,726 |
(2006) |
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IMPORT VALUE |
: |
None |
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EXPORT VALUE |
: |
USD
288,528,726 |
(2006) |
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EXPORT COUNTRIES |
: |
Belgium,
Czech Republic, China, Egypt, Germany, France, Hungary, Netherlands, Poland,
Portugal, Russia, Spain, Sweden |
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MERCHANDISE
EXPORTED |
: |
Television, radio, television receiver,
disk… |
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PREMISES |
: |
Head Office: Cemal Sahir Sok. No:26-28 Mecidiyekoy
Istanbul |
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FINANCE
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MAIN DEALING BANKERS |
: |
Turkiye Is Bankasi Sisli branch in Istanbul Turkiye Halk Bankasi Sisli branch in Istanbul HSBC Bank Merkez branch in Istanbul Yapi ve Kredi Bankasi Sisli branch in Istanbul |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
Net Sales Profit (Loss) Before Tax |
(2006) YTL 28,003,882+USD 288,528,726 YTL 226,794 |
COMMENT ON FINANCIAL POSITION
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GENERAL
FINANCIAL POSITION |
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The subject had low profitability in 2006. |
CREDIT OPINION
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
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(1.1.-31.01.2008) |
0.42 % |
1.1741 |
1.7303 |
2.3417 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)