MIRA
INFORM REPORT
|
Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BERGAMA DIS TICARET LTD. STI. |
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Registered Office : |
Sultanahmet Mah. Akbiyik Cad. No:73/A Eminonu Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
284347 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import and Domestic Trade of Carpet. |
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 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Note: The name of the firm was missing at your inquiry.
The registered full name of the company having the address at your inquiry is
“BERGAMA DIS TICARET LTD. STI.”. Ahmet Yavuz is the one of the shareholders of
“BERGAMA DIS TICARET LTD. STI.”
COMPANY IDENTIFICATION
|
NAME |
: |
BERGAMA DIS TICARET LTD. STI. |
|
ADDRESS |
: |
Head Office: Sultanahmet Mah. Akbiyik Cad.
No:73/A Eminonu Istanbul/Turkey |
|
PHONE NUMBER |
: |
90-212-517 43 28 |
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FAX NUMBER |
: |
90-212-517 43 28 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Beyazit/1650008395 |
|
REGISTRATION NUMBER |
: |
284347 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
1981 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 3,000 |
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PAID-IN CAPITAL |
: |
YTL 3,000 |
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HISTORY |
: |
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Previous Address |
:Sultanahmet Akbiyik Cad. Bayram Firin Sok. No:14 Eminonu Istanbul |
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Address Changed On |
:20.03.2007(Commercial Registry Gazette
Date/No: 23.03.2007/6772) |
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Other Historical Events |
: The subject was firstly established in Kayseri and registered at
Kayseri Commercial Registry with reg. no. 10654 Then the firm moved to
Istanbul and registered at Istanbul Commercial Registry with reg. no. 284347 on
11.02.1992 (Commercial Registry Gazette Date/No: 25.03.1992/2995) |
|
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Ahmet Yavuz Kubilay Yildiz |
50 % 50 % |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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DIRECTOR |
: |
Ahmet Yavuz |
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OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Import and domestic trade of carpet. |
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|
SECTOR |
: |
Commerce |
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|
NUMBER OF
EMPLOYEES |
: |
The subject has no employees, the
operations are carried out by the shareholder Ahmet Yavuz. |
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NET SALES |
: |
(YTL) 302,649 340,116 |
(2006) (2007) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
(USD) 213,000 |
(2007) |
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IMPORT COUNTRIES |
: |
Pakistan, India |
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MERCHANDISE
IMPORTED |
: |
Carpet |
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EXPORT |
: |
None |
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PREMISES |
: |
Head Office: Sultanahmet Mah. Akbiyik Cad.
No:73/A Eminonu Istanbul (rented) |
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FIXED CAPITAL
INVESTMENTS |
: |
None |
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TREND OF BUSINESS |
: |
Upwards
in 2007. |
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SIZE
OF BUSINESS |
: |
Lower-moderate |
FINANCE
|
MAIN DEALING BANKERS |
: |
Yapi ve Kredi Bankasi Nuruosmaniye branch
in Istanbul |
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CREDIT FACILITIES |
: |
No credit facility has come to our
knowledge. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
||
|
Capitalization was low as of 31.12.2007. A part of liabilities was due to loans from
shareholders but major part of liabilities was due to accounts payable as of 31.12.2007. |
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LIQUIDITY |
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High |
As of 31.12.2007 |
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PROFITABILITY |
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High |
In 2007 |
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GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
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Unfavorable |
In 2007 |
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GENERAL
FINANCIAL POSITION |
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Fair |
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CREDIT OPINION
|
CREDIT
OPINION WITHOUT OBLIGATION |
: |
We
are of the opinion that, a max. credit of USD 20,000 may be granted to the
subject company. |
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|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-30.06.2008) |
13.76 % |
1.2197 |
1.8695 |
2.4232 |
BALANCE SHEETS
|
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|
YTL |
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YTL |
|
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|
31.12.06 |
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|
31.12.07 |
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CURRENT ASSETS |
657.342 |
|
0,99 |
|
796.830 |
|
1,00 |
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Cash and Banks |
915 |
|
0,00 |
|
639 |
|
0,00 |
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Marketable Securities |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Account Receivable |
515.579 |
|
0,78 |
|
592.489 |
|
0,74 |
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Other Receivable |
0 |
|
0,00 |
|
0 |
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0,00 |
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Inventories |
47.697 |
|
0,07 |
|
141.309 |
|
0,18 |
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Advances Given |
58.486 |
|
0,09 |
|
0 |
|
0,00 |
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Other Current Assets |
34.665 |
|
0,05 |
|
62.393 |
|
0,08 |
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NON-CURRENT ASSETS |
3.898 |
|
0,01 |
|
3.898 |
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0,00 |
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Long-term Receivable |
0 |
|
0,00 |
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0 |
|
0,00 |
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Financial Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Tangible Fixed Assets (net) |
3.458 |
|
0,01 |
|
3.458 |
|
0,00 |
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Intangible Assets |
440 |
|
0,00 |
|
440 |
|
0,00 |
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Other Non-Current Assets |
0 |
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0,00 |
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0 |
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0,00 |
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TOTAL ASSETS |
661.240 |
|
1,00 |
|
800.728 |
|
1,00 |
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CURRENT LIABILITIES |
581.763 |
|
0,88 |
|
687.894 |
|
0,86 |
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Financial Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Accounts Payable |
299.194 |
|
0,45 |
|
425.550 |
|
0,53 |
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Loans from Shareholders |
281.706 |
|
0,43 |
|
261.849 |
|
0,33 |
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Other Short-term Payable |
0 |
|
0,00 |
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0 |
|
0,00 |
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Advances from Customers |
0 |
|
0,00 |
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0 |
|
0,00 |
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Taxes Payable |
863 |
|
0,00 |
|
495 |
|
0,00 |
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Provisions |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Other Current Liabilities |
0 |
|
0,00 |
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0 |
|
0,00 |
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LONG-TERM LIABILITIES |
0 |
|
0,00 |
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0 |
|
0,00 |
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Financial Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Securities Issued |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Long-term Payable |
0 |
|
0,00 |
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0 |
|
0,00 |
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Loans from Shareholders |
0 |
|
0,00 |
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0 |
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0,00 |
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Other Long-term Liabilities |
0 |
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0,00 |
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0 |
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0,00 |
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Provisions |
0 |
|
0,00 |
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0 |
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0,00 |
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STOCKHOLDERS' EQUITY |
79.477 |
|
0,12 |
|
112.834 |
|
0,14 |
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Paid-in Capital |
3.000 |
|
0,00 |
|
3.000 |
|
0,00 |
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Inflation Adjustment of
Capital |
40.774 |
|
0,06 |
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0 |
|
0,00 |
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Reserves |
73.202 |
|
0,11 |
|
90.937 |
|
0,11 |
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Revaluation Fund |
0 |
|
0,00 |
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0 |
|
0,00 |
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Accumulated Losses(-) |
-55.234 |
|
-0,08 |
|
-14.460 |
|
-0,02 |
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Net Profit (loss) |
17.735 |
|
0,03 |
|
33.357 |
|
0,04 |
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TOTAL LIABILITIES AND EQUITY |
661.240 |
|
1,00 |
|
800.728 |
|
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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|
2007 |
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Net Sales |
302.649 |
|
1,00 |
|
340.116 |
|
1,00 |
|
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Cost of Goods Sold |
260.912 |
|
0,86 |
|
284.178 |
|
0,84 |
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Gross Profit |
41.737 |
|
0,14 |
|
55.938 |
|
0,16 |
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Operating Expenses |
18.483 |
|
0,06 |
|
13.429 |
|
0,04 |
|
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Operating Profit |
23.254 |
|
0,08 |
|
42.509 |
|
0,12 |
|
|
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Other Income |
38 |
|
0,00 |
|
0 |
|
0,00 |
|
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Other Expenses |
899 |
|
0,00 |
|
650 |
|
0,00 |
|
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Financial Expenses |
0 |
|
0,00 |
|
0 |
|
0,00 |
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Profit (loss) Before Tax |
22.393 |
|
0,07 |
|
41.859 |
|
0,12 |
|
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Tax Payable |
4.658 |
|
0,02 |
|
8.502 |
|
0,02 |
|
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Net Profit (loss) |
17.735 |
|
0,06 |
|
33.357 |
|
0,10 |
|
FINANCIAL RATIOS
|
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|
2006 |
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|
2007 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,13 |
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|
1,16 |
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Acid-Test Ratio |
0,89 |
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|
0,86 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,07 |
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|
0,18 |
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Short-term Receivable/Total Assets |
0,78 |
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|
0,74 |
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Tangible Assets/Total Assets |
0,01 |
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|
0,00 |
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TURNOVER RATIOS |
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Inventory Turnover |
5,47 |
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|
2,01 |
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Stockholders' Equity Turnover |
3,81 |
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|
3,01 |
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Asset Turnover |
0,46 |
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|
0,42 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,12 |
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|
0,14 |
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Current Liabilities/Total Assets |
0,88 |
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|
0,86 |
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Financial Leverage |
0,88 |
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|
0,86 |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,22 |
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|
0,30 |
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Operating Profit Margin |
0,08 |
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|
0,12 |
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Net Profit Margin |
0,06 |
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|
0,10 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
613,28 |
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|
627,13 |
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Average Payable Period (days) |
412,82 |
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|
539,09 |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
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%)