MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GESAS GENEL GIDA SANAYII VE TICARET A.S. |
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Registered Office : |
Ulubatli Hasan Mah. Ankara Cad. No:146 Konya |
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Country : |
Turkey |
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Date of Incorporation : |
20.03.1974 |
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Com. Reg. No.: |
7829 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and Trade of Food Products such as Jam, Chocolate, Oil,
Halva etc |
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 |
COMPANY IDENTIFICATION
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NAME |
: |
GESAS GENEL GIDA SANAYII VE TICARET A.S. |
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ADDRESS |
: |
Head Office & Factory: Ulubatli Hasan Mah.
Ankara Cad. No:146 Konya / Turkey |
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PHONE NUMBER |
: |
90-332-235 88 82 |
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FAX NUMBER |
: |
90-332-235 92 40 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
: |
Selcuk / 3940051044 |
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REGISTRATION NUMBER |
: |
7829 |
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REGISTERED OFFICE |
: |
Konya Chamber of Commerce |
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DATE ESTABLISHED |
: |
20.03.1974 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 14,000,000 |
OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
Celal Aras Evrim Zuhal Aras Sagiroglu Meral Aras Musa Asci Ibrahim Asci Mehmet Asci Others |
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GROUP PARENT COMPANY |
: |
None |
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SUBSIDIARIES |
: |
None |
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BOARD OF DIRECTORS |
: |
Celal Aras Evrim Zuhal Aras Sagiroglu Meral Aras |
Chairman Vice-Chairman Member |
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DIRECTORS |
: |
Mehmet Asci |
General Manager |
OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Manufacture and trade of food products
such as jam, chocolate, oil, halva etc. |
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TRADEMARK(S) |
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“Gesas” |
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NUMBER OF
EMPLOYEES |
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200 |
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NET SALES |
: |
n.a. |
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In Turkey, there is no public registry on companies’ financial and
detailed general data. So, to collect a firm’s data, an information agency
has to contact the company and get its authorization. However the company strictly declines to give us an authorization to
gather its financial data. As the firm’s shares are not open to public it is
not obliged to announce its data. |
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IMPORT COUNTRIES |
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Ethiopia, Mozambique, India |
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MERCHANDISE IMPORTED |
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Sesame |
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EXPORT COUNTRIES |
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Algeria, Switzerland, Belgium,
Netherlands, Romania, Poland, Saudi Arabia, Albania… |
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MERCHANDISE
EXPORTED |
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Jam, chocolate, nuts, hazelnuts… |
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PREMISES |
: |
Head Office & Factory: Ulubatli Hasan
Mah. Ankara Cad. No:146 Konya (owned) (18,000 sqm covered area over a land of
22,000 sqm) Liaison Office & Warehouse: Kocatepe
Mah. Mega Center C Blok No:173 Bayrampasa-Istanbul (owned) |
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FIXED CAPITAL
INVESTMENTS |
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None |
FINANCE
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MAIN DEALING BANKERS |
: |
Albaraka Turk Katilim Bankasi Konya branch
in Konya |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
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GENERAL
FINANCIAL POSITION |
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According to General Assembly Meeting
dated on 17.08.2007, the subject had YTL 346,793 net profit in 2006. This
profit is decided not to be distributed to the shareholders but to be
deducted from accumulated losses. However the general financial position of
the firm is undetermined; the firm declines to give us an authorization to
gather its detailed 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 |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-30.06.2008) |
13.76 % |
1.2197 |
1.8695 |
2.4232 |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)