MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEHMET AKIF SAHIN |
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Registered Office : |
Basaran Mah. Emek Sok. No:27 Osmangazi-Bursa |
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Country : |
Turkey |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
65604 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Assembly of Exhaust Equipments |
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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Maximum Credit Limit : |
USD 3,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTE: The name at your inquiry “Ozsahinler Otomotiv” is the tradename of
the sole-proprietorship whose registered name is “MEHMET AKIF SAHIN”
COMPANY IDENTIFICATION
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NAME |
: |
MEHMET AKIF SAHIN |
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ADDRESS |
: |
Head Office/Workshop: Basaran Mah. Emek
Sok. No:27 Osmangazi-Bursa / Turkey |
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PHONE NUMBER |
: |
90-224-253 69 44 |
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FAX NUMBER |
: |
None |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
: |
Uludag / 38545967984 |
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REGISTRATION NUMBER |
: |
65604 |
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REGISTERED OFFICE |
: |
Bursa Chamber of Commerce and Industry |
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DATE ESTABLISHED |
: |
The subject sole-proprietorship is declared to be
established in 2004. As the sole-proprietorships are not obliged to be
registered at commercial registry, it has not registered at commercial
registry until January 2008. It was registered at Bursa Commercial Registry
on 10.01.2008 (Commercial Registry Gazette Date/No: 18.01.2008/6980) |
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LEGAL FORM |
: |
Sole-Proprietorship |
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TYPE OF COMPANY |
: |
Private |
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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
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OWNER |
: |
Mehmet Akif Sahin |
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The owner of the subject Mehmet Akif Sahin
was born in 1974. Other companies owned by the owner are
declared to be: None |
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DIRECTORS |
: |
Mehmet Akif Sahin |
OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Assembly of exhaust equipments |
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NUMBER OF
EMPLOYEES |
: |
9 |
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NET SALES |
: |
(YTL) 8,946 17,594 31,152 |
(2005) (2006) (2007) |
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IMPORT COUNTRIES |
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India, China |
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MERCHANDISE IMPORTED |
: |
Exhaust accessories |
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PREMISES |
: |
Head Office/Workshop: Basaran Mah. Emek
Sok. No:27 Osmangazi-Bursa Workshop: Eski Gemlik Yolu Gulbahce Mah.
Inonu Cad. No: 319 Bursa Branch : Bursa |
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FIXED CAPITAL
INVESTMENTS |
: |
None |
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TREND OF
BUSINESS |
: |
Upwards |
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SIZE OF BUSINESS |
: |
Small |
FINANCE
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MAIN DEALING BANKERS |
: |
T.Is Bankasi Kavukcinar branch in Bursa |
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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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The subject was in loss in 2005 but it had high profitability in 2006
and 2007 and 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. |
CREDIT OPINION
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CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit
of USD 3,000 may be granted to the subject company. |
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
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(1.1.-29.02.2008) |
3 % |
1.1768 |
1.7488 |
2.3424 |
INCOME
STATEMENTS
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YTL |
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YTL |
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YTL |
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2005 |
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2006 |
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2007 |
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Net Sales |
8.946 |
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1,00 |
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17.594 |
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1,00 |
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31.152 |
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1,00 |
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Cost of
Goods Sold |
1.514 |
|
0,17 |
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3.143 |
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0,18 |
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18.361 |
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0,59 |
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Gross Profit |
7.432 |
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0,83 |
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14.451 |
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0,82 |
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12.791 |
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0,41 |
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Expenses |
7.459 |
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0,83 |
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12.365 |
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0,70 |
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10.309 |
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0,33 |
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Operating Profit |
-27 |
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0,00 |
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2.086 |
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0,12 |
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2.482 |
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0,08 |
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Other
Income |
0 |
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0,00 |
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0 |
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0,00 |
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0 |
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0,00 |
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Other
Expenses |
0 |
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0,00 |
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0 |
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0,00 |
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0 |
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0,00 |
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Financial
Expenses |
0 |
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0,00 |
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0 |
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0,00 |
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0 |
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0,00 |
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Profit (loss) Before Tax |
-27 |
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0,00 |
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2.086 |
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0,12 |
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2.482 |
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0,08 |
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Tax
Payable |
0 |
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0,00 |
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0 |
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0,00 |
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0 |
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0,00 |
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Net Profit (loss) |
-27 |
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0,00 |
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2.086 |
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0,12 |
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2.482 |
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0,08 |
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The sole-proprietorships are not obliged to
prepare balance sheets.
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%)