MIRA
INFORM REPORT
|
Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EURO POMP ELEKTRIK INSAAT SANAYI VE TICARET LTD STI |
|
|
|
|
Registered Office : |
Yeni Mahalle Sahkulubey Cad. No:67/A
Kiziltepe- Mardin |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
04.05.2005 |
|
|
|
|
Com. Reg. No.: |
1085-215 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import and domestic trade of water pomp, electrical
motors |
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 75,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
EURO POMP ELEKTRIK INSAAT SANAYI VE TICARET LTD. STI. |
|
ADDRESS |
: |
Head Office & Warehouse: Yeni Mahalle
Sahkulubey Cad. No:67/A Kiziltepe- Mardin/ Turkey Branch & Sales Office: Ikitelli Sanayi
Bolgesi Hesko San. Sit. M6 Blok No:89 Kucukcekmece- Istanbul/ Turkey |
|
PHONE NUMBER |
: |
90-482-312 31 68 (Head Office &
Warehouse) 90-216-670 40 00 (Branch & Sales
Office) |
|
FAX NUMBER |
: |
90-482-312 95 06 (Head Office &
Warehouse) 90-216-670 09 99 (Branch & Sales
Office) |
LEGAL STATUS AND HISTORY
|
TAX OFFICE |
: |
Kiziltepe |
||
|
REGISTRATION NUMBER |
: |
1085-215 |
||
|
REGISTERED OFFICE |
: |
Kiziltepe Chamber of Commerce |
||
|
DATE ESTABLISHED |
: |
04.05.2005 (Commercial Registry Gazette
Date/No: 11.05.2005/6301) |
||
|
LEGAL FORM |
: |
Limited Company |
||
|
TYPE OF COMPANY |
: |
Private |
||
|
REGISTERED CAPITAL |
: |
YTL 200,000 |
||
|
PAID-IN CAPITAL |
: |
YTL 200,000 |
||
|
HISTORY |
: |
|
||
|
|
|
Previous Address |
: Ipek Yolu Uzeri No:177/A Kiziltepe-
Mardin |
|
|
|
|
Address Changed On |
: 15.08.2007 (Commercial Registry Gazette
Date/No: 22.08.2007/6879) |
|
|
|
|
Other Historical Events |
: The shareholder Suleyman Kalkan sold 33,3375
% shares to Murat Aksoy, Seyhmus Turan sold 16,6625 % shares to Murat Aksoy
and 16,6625 % shares to Mihdi Aksoy on 15.08.2007 (Commercial Registry
Gazette Date/No: 22.08.2007/6879) |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Murat Aksoy Sami Aksoy Mihdi Aksoy |
50 % 33,3375 % 16,6625 % |
|
SISTER COMPANIES |
: |
Aks Jet Elektrik Insaat Nakliyat
Kuyumculuk Turizm Sanayi ve Ticaret Ltd. Sti. |
|
|
GROUP PARENT COMPANY |
: |
None |
|
|
SUBSIDIARIES |
: |
None |
|
|
DIRECTORS |
: |
Sami Aksoy Murat Aksoy Mihdi Aksoy |
|
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Import and domestic trade of water pomp,
electrical motors The firm has declared that, it is the
distributor of “Shakt” (India) |
|
|
SECTOR |
: |
Commerce |
|
|
TRADEMARK(S) |
: |
None |
|
|
NUMBER OF
EMPLOYEES |
: |
6 |
|
|
NET SALES |
: |
(YTL) 335,001 968,789 |
(2006) (2007) |
|
CAPACITY |
: |
None |
|
|
PRODUCTION |
: |
None |
|
|
IMPORT VALUE |
: |
USD 550,000 |
(2007) |
|
IMPORT COUNTRIES |
: |
India, China… |
|
|
MERCHANDISE
IMPORTED |
: |
Pomp, motor |
|
|
EXPORT |
: |
None |
|
|
PREMISES |
: |
Head Office & Warehouse: Yeni Mahalle
Sahkulubey Cad. No:67/A Kiziltepe- Mardin (400 sqm) (rented) Branch & Sales Office: Ikitelli Sanayi
Bolgesi Hesko San. Sit. M6 Blok No:89 Kucukcekmece- Istanbul (150 sqm)
(rented) |
|
|
FIXED CAPITAL
INVESTMENTS |
: |
None |
|
|
TREND OF BUSINESS |
: |
There
was an upwards trend at sales volume in 2007 |
|
SIZE
OF BUSINESS |
: |
Small
|
FINANCE
|
MAIN DEALING BANKERS |
: |
T.Finans Katilim Bankasi Perpa branch in
Istanbul Finansbank Perpa branch in Istanbul |
|
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) |
|
|
High |
As of 31.12.2007 |
|
LIQUIDITY |
|
|
High |
As of 31.12.2007 |
|
PROFITABILITY |
|
|
Low |
In 2007 |
|
GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
|
|
Unfavorable but Short |
In 2007 |
|
GENERAL
FINANCIAL POSITION |
|
|
Good |
|
CREDIT OPINION
|
CREDIT
OPINION WITHOUT OBLIGATION |
: |
We
are of the opinion that, a max. credit of USD 75,000 may be granted to the
subject company. |
|
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
1.3499 |
1.6882 |
2.4623 |
|
1.4309 |
1.7987 |
2.6377 |
|
1.3075 |
1.7901 |
2.6133 |
|
1.1741 |
1.7303 |
2.3417 |
BALANCE
SHEETS
|
|||||||||
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
31.12.06 |
|
|
|
31.12.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
361.521 |
|
0,99 |
|
224.898 |
|
0,97 |
|
|
|
Cash and
Banks |
299.537 |
|
0,82 |
|
17.502 |
|
0,08 |
|
|
|
Marketable
Securities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Account
Receivable |
33.462 |
|
0,09 |
|
114.800 |
|
0,50 |
|
|
|
Other
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Inventories |
25.402 |
|
0,07 |
|
65.932 |
|
0,29 |
|
|
|
Advances
Given |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Current Assets |
3.120 |
|
0,01 |
|
26.664 |
|
0,12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS |
2.069 |
|
0,01 |
|
5.846 |
|
0,03 |
|
|
|
Long-term
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Financial
Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Tangible
Fixed Assets (net) |
884 |
|
0,00 |
|
4.661 |
|
0,02 |
|
|
|
Intangible Assets |
1.185 |
|
0,00 |
|
1.185 |
|
0,01 |
|
|
|
Other
Non-Current Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
363.590 |
|
1,00 |
|
230.744 |
|
1,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
157.570 |
|
0,43 |
|
18.480 |
|
0,08 |
|
|
|
Financial
Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Accounts
Payable |
156.204 |
|
0,43 |
|
0 |
|
0,00 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Short-term Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Advances
from Customers |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Taxes
Payable |
484 |
|
0,00 |
|
966 |
|
0,00 |
|
|
|
Provisions |
882 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Current Liabilities |
0 |
|
0,00 |
|
17.514 |
|
0,08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM LIABILITIES |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Financial
Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Securities Issued |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Long-term
Payable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Loans
from Shareholders |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Long-term Liabilities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
206.020 |
|
0,57 |
|
212.264 |
|
0,92 |
|
|
|
Paid-in
Capital |
200.000 |
|
0,55 |
|
200.000 |
|
0,87 |
|
|
|
Reserves |
2.493 |
|
0,01 |
|
6.902 |
|
0,03 |
|
|
|
Revaluation Fund |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Accumulated Losses(-) |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Net
Profit (loss) |
3.527 |
|
0,01 |
|
5.362 |
|
0,02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
363.590 |
|
1,00 |
|
230.744 |
|
1,00 |
|
The financial statements of
31.12.2007 have not become certain yet.
|
|
INCOME STATEMENTS
|
||||||||
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
2006 |
|
|
|
2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
335.001 |
|
1,00 |
|
968.789 |
|
1,00 |
|
|
|
Cost of Goods Sold |
317.571 |
|
0,95 |
|
941.444 |
|
0,97 |
|
|
|
Gross Profit |
17.430 |
|
0,05 |
|
27.345 |
|
0,03 |
|
|
|
Operating Expenses |
13.021 |
|
0,04 |
|
21.983 |
|
0,02 |
|
|
|
Operating Profit |
4.409 |
|
0,01 |
|
5.362 |
|
0,01 |
|
|
|
Other Income |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other Expenses |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Financial Expenses |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Profit (loss) Before Tax |
4.409 |
|
0,01 |
|
5.362 |
|
0,01 |
|
|
|
Tax Payable |
882 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Net Profit (loss) |
3.527 |
|
0,01 |
|
5.362 |
|
0,01 |
|
|
|
FINANCIAL
RATIOS
|
||||||||
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
|
|
2007 |
|
|
|
|
|
LIQUIDITY RATIOS |
|
|
|
|
|
|
|
|
|
|
Current Ratio |
2,29 |
|
|
|
12,17 |
|
|
|
|
|
Acid-Test Ratio |
2,11 |
|
|
|
7,16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET STRUCTURE RATIOS |
|
|
|
|
|
|
|
|
|
|
Inventory/Total Assets |
0,07 |
|
|
|
0,29 |
|
|
|
|
|
Short-term Receivable/Total Assets |
0,09 |
|
|
|
0,50 |
|
|
|
|
|
Tangible Assets/Total Assets |
0,00 |
|
|
|
0,02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TURNOVER RATIOS |
|
|
|
|
|
|
|
|
|
|
Inventory Turnover |
12,50 |
|
|
|
14,28 |
|
|
|
|
|
Stockholders' Equity Turnover |
1,63 |
|
|
|
4,56 |
|
|
|
|
|
Asset Turnover |
0,92 |
|
|
|
4,20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STRUCTURE |
|
|
|
|
|
|
|
|
|
|
Stockholders' Equity/Total Assets |
0,57 |
|
|
|
0,92 |
|
|
|
|
|
Current Liabilities/Total Assets |
0,43 |
|
|
|
0,08 |
|
|
|
|
|
Financial Leverage |
0,43 |
|
|
|
0,08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFITABILITY RATIOS |
|
|
|
|
|
|
|
|
|
|
Net Profit/Stockholders' Eq. |
0,02 |
|
|
|
0,03 |
|
|
|
|
|
Operating Profit Margin |
0,01 |
|
|
|
0,01 |
|
|
|
|
|
Net Profit Margin |
0,01 |
|
|
|
0,01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COLLECTION-PAYMENT |
|
|
|
|
|
|
|
|
|
|
Average Collection Period (days) |
35,96 |
|
|
|
42,66 |
|
|
|
|
|
Average Payable Period (days) |
177,07 |
|
|
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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%)