MIRA INFORM REPORT

 

 

Report Date :

15.05.2008

 

IDENTIFICATION DETAILS

 

Name :

HAMBOYA BOYACILIK TEKSTIL SANAYI VE TICARET A.S.

 

 

Registered Office :

Namik Kemal Mah. Adile Nasit Blv. 140. Sok. N Plaza A Blok 41-43 Buyukcekmece Esenyurt Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

09.10.1996

 

 

Com. Reg. No.:

354228

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Dying and Finishing of Fabric

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1.2 million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

COMPANY IDENTIFICATION

 

NAME

:

HAMBOYA BOYACILIK TEKSTIL SANAYI VE TICARET A.S.

ADDRESS

:

Head Office: Namik Kemal Mah. Adile Nasit Blv. 140. Sok. N Plaza A Blok 41-43 Buyukcekmece Esenyurt Istanbul / Turkey

PHONE NUMBER

:

90-212-699 95 14

90-212-699 89 99

FAX NUMBER

:

90-212-699 49 00

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE / NO

:

Beylikduzu / 4560064306

 

REGISTRATION NUMBER

:

354228

 

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

 

DATE ESTABLISHED

:

09.10.1996 (Commercial Registry Gazette Date/No:15.10.1996/4145)

 

LEGAL FORM

:

Joint Stock Company

 

TYPE OF COMPANY

:

Private

 

REGISTERED CAPITAL

:

YTL 7,000,000

 

HISTORY

:

 

 

 

 

Previous Registered Capital

:YTL 5,000,000

 

 

Regist. Capital Changed on

: 11.08.2005 (Commercial Registry Gazette Date/No:16.08.2005/6369 )

 

 

Previous Address

:Saadetdere Mah. Kazim Karabekir Cad. No: 9 Esenyurt Buyukcekmece Istanbul

 

 

Address Changed On

: 31.10.2006 (Commercial Registry Gazette Date/No: 03.11.2006/6675)

 

 

 

Previous Address

:Namik Kemal Mah. 24 C1A-24C1B PAfta 116 Ada 2 Parsel Buyukcekmece Istanbul

 

 

Address Changed On

: 15.01.2007 (Commercial Registry Gazette Date/No: 18.01.2007/6726)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

 

:

Niyazi Karadeniz

Turgay Karadeniz

Seyfettin Karadeniz

Camal Karadeniz

Nuran Karadeniz

 

39 %

20 %

20 %

20 %

1 %

SISTER COMPANIES

:

-Alkemi Kimya Tekstil San. ve Tic. A.S.

-Rem Tekstil Dis Ticaret San. ve Tic. Ltd. Sti.

-Ncst Tekstil San. ve Tic. Ltd. Sti.

 

GROUP PARENT COMPANY

 

:

None

BOARD OF DIRECTORS

:

Niyazi Karadeniz

Turgay Karadeniz

Camal Karadeniz

 

Chairman

Vice-Chairman

Member

 

GENERAL MANAGER

 

:

Mustafa Aydogan

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Dying and finishing of fabric

 

SECTOR

 

:

Textile

TRADEMARK(S)

:

None

 

NUMBER OF EMPLOYEES

:

250

 

NET SALES

:

(YTL)

20,907,615

24,204,636

33,009,865

 

 

(2005)

(2006)

(2007)

 

 

 

The a.m. sales figures are declared by the firm. There is no certification for these figures.

 

CAPACITY

:

(Kg./Yr.)

       3,000,000

 

 (2007)

 

IMPORT VALUE

:

(USD)

6,000

10,000

480,000

 

 

(2005)

(2006)

(2007)

 

IMPORT COUNTRIES

:

India

 

MERCHANDISE IMPORTED

 

:

Yarn

EXPORT VALUE

:

(USD)

940,000

1,595,846

260,000

 

(2005)

(2006)

(2007)

 

EXPORT COUNTRIES

 

:

Russia, Bulgaria, Romania, Lithuania, France, Bosnia-Herzegovinia, Germany, UK, Istanbul Leather Zone...

 

MERCHANDISE EXPORTED

 

:

Fabric

PREMISES

:

Head Office: Namik Kemal Mah. Adile Nasit Blv. 140. Sok. N Plaza A Blok 41-43 Buyukcekmece Esenyurt Istanbul (owned)

 

Dying Plant: Velimese Sanayi Bolgesi Haciseramet Mevkii Corlu Tekirdag (owned)

 

Branch: Duacinari DSI Yani Kirkpinar Cad. No: 9/A Bursa

 

 

TREND OF BUSINESS

:

Upwards

SIZE OF BUSINESS

:

Large

 

 

 

FINANCE

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS  

:

 

 

Net Sales

Profit (Loss) Before Tax

Stockholders’ Equity

Total Assets

 

(2005)

(YTL)

20,907,615

384,188

9,711,734

19,236,942

(2006)

(YTL)

24,204,636

529,443

11,272,876

26,294,020

(2007)

(YTL)

33,009,865

1,548,247

11,161,645

28,333,890

 

 

 

The a.m. financial figures are declared by the company. There is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

FINANCIAL STRUCTURE (SUFFICENCY OF OWN RESOURCES)

 

Fair

 

As of 31.12.2007

PROFITABILITY

 

Good

 

In 2007

GENERAL FINANCIAL

POSITION

 

According to the figures declared by the company, capitalization was fair and profitability was good in 2007.

 

 

 

CREDIT OPINION

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of USD 1.2 million may be granted to the subject company.

 

 

 

 

 

 

 

 

 

Incr. in producers’ price index

 

Average YTL/$

Average YTL/EUR

Average YTL/GBP

(2005)

2.66 %

1.3499

1.6882

2.4623

(2006)

11.58 %

1.4309

1.7987

2.6377

(2007)

5.94 %

1.3075

1.7901

2.6133

(1.1.-30.04.2008)

11.04 %

1.2193

1.8541

2.4257

 

 

 

 

 

 

 

 

 

 

                                          

 

 

 

 

 

 

 

 

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions