MIRA
INFORM REPORT
|
Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
SEYYIT MEVLANA ORAL – ORKIM KIMYA |
|
|
|
|
Registered Office : |
Serbest Bolge (Free Zone) |
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|
Country : |
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|
|
|
Financials (as on) : |
31.12.2007 |
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|
Date of Incorporation : |
26.07.2006 |
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|
Com. Reg. No.: |
29528 |
|
|
|
|
Legal Form : |
Sole-Proprietorship |
|
|
|
|
Line of Business : |
Trade of Dye at Free Zone |
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 |
|
Status : |
Small Company |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
Litigation : |
Clear |
REMARKS: The address
stated at your inquiry is the former address of the establishment. This establishment
moved from “Gama Is Merkezi 1-06A No: 33130 Serbest Bolge (Free Zone) – Mersin”
to “Serbest Bolge (Free Zone) Mersin Z Adasi 1/5 Parsel (Aypas Depolari)
Mersin” on 18.09.2008.
COMPANY IDENTIFICATION
|
NAME |
: |
SEYYIT MEVLANA ORAL – ORKIM KIMYA |
|
ADDRESS |
: |
Head Office: Serbest Bolge (Free Zone)
Mersin Z Adasi 1/5 Parsel (Aypas Depolari) Mersin / Turkey Branch: Turgut Reis Mah. Tekstilkent A4
Blok No:35-36 Esenler – Istanbul /Turkey |
|
PHONE NUMBER |
: |
90-324-238 72 47 (Head Office) 90-212-438 06 85 (Branch) |
|
FAX NUMBER |
: |
90-212-438 06 89 (Branch) |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Uray / 21355952394 |
|
REGISTRATION NUMBER |
: |
29528 |
|
REGISTERED OFFICE |
: |
Mersin Chamber of Commerce |
|
DATE ESTABLISHED |
: |
26.07.2006 (Commercial Registry Gazette
Date/No: 03.08.2006 / 6613) |
|
LEGAL FORM |
: |
Sole-Proprietorship |
|
TYPE OF COMPANY |
: |
Private |
|
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. |
|
HISTORY |
: |
The subject moved from “Gama Is Merkezi
1-06A No: 33130 Serbest Bolge (Free Zone) – Mersin” to “Serbest Bolge (Free
Zone) Mersin Z Adasi 1/5 Parsel (Aypas Depolari) Mersin” on 18.09.2008
(Commercial Registry Gazette Date/No: 25.09.2008/7157) |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Seyyit Mevlana Oral |
100 % |
|
REMARKS ON
SHAREHOLDERS |
: |
The owner, Seyyit Mevlana Oral, was born
on 29.07.1961. |
|
|
PROPERTIES OWNED BY THE OWNER/PARTNERS |
: |
2 flats in Beylikduzu-Istanbul and Bahcesehir-Istanbul 1 office (branch office) at “Turgut Reis
Mah. Tekstilkent A4 Blok No:35 Esenler – Istanbul” 1 car |
|
|
SISTER COMPANIES |
: |
Birsun Tekstil Boya Kimya Ticaret Ltd.
Sti. |
|
|
DIRECTOR |
: |
Seyyit Mevlana Oral |
|
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Trade of dye at free zone |
|
|
SECTOR |
: |
Commerce |
|
|
NUMBER OF
EMPLOYEES |
: |
1 |
|
|
NET SALES |
: |
(YTL) 184.810 1.377.407 1.166.114 |
(26.07.-31.12.2006) (2007) (01.01.-30.06.2008) |
|
CAPACITY |
: |
None |
|
|
PRODUCTION |
: |
None |
|
|
IMPORT VALUE |
: |
USD 120.525 USD 111.242 |
(26.07.-31.12.2006) (01.01.-20.07.2007) |
|
IMPORT COUNTRIES |
: |
China, India, Taiwan |
|
|
MERCHANDISE
IMPORTED |
: |
Dye |
|
|
EXPORT VALUE |
: |
(YTL) 184.810 1.377.407 1.166.114 |
(26.07.-31.12.2006) (2007) (01.01.-30.06.2008) |
|
REMARKS ON
EXPORT |
: |
As the subject is located at Free Zone all
of its sales are regarded as exports. |
|
|
PREMISES |
: |
Head Office: Serbest Bolge (Free Zone) Mersin
Z Adasi 1/5 Parsel (Aypas Depolari) Mersin (rented) Branch: Turgut Reis Mah. Tekstilkent A4
Blok No:35-36 Esenler – Istanbul |
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TREND OF
BUSINESS |
: |
Upwards |
|
|
|
|
|
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SIZE OF BUSINESS |
: |
Lower-moderate |
|
FINANCE
|
MAIN DEALING BANKERS |
: |
Garanti Bankasi Yenibosna branch in
Istanbul Ing Bank Topkapi Sanayi and AHL branches
in Istanbul Asya Katilim Bankasi Gunesli and Tuzla
branches 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) |
||||
|
Capitalization was low as of 31.12.2007. However 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. The owner of the
subject possesses two flats, a car, an office and has shares at a limited
company. |
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|
LIQUIDITY |
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|
Very Low |
As of 31.12.2007 |
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|
PROFITABILITY |
||||
|
Low |
In 2007 |
Fair
|
Between 01.01.-30.06.2008 |
|
|
GAP BETWEEN COLLECTION-PAYMENT PERIODS |
||||
|
Favorable |
In 2007 |
|||
|
GENERAL
FINANCIAL POSITION |
||||
|
Unsatisfactory |
||||
|
|
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 |
|
(1.1.-30.09.2008) |
11.48 % |
1.2146 |
1.8490 |
2.3755 |
BALANCE SHEETS
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
31.12.06 |
|
|
|
31.12.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
108.989 |
|
0,45 |
|
726.784 |
|
0,55 |
|
|
|
Cash and
Banks |
3.288 |
|
0,01 |
|
39.751 |
|
0,03 |
|
|
|
Marketable
Securities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Account
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Receivable |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Inventories |
0 |
|
0,00 |
|
297.272 |
|
0,23 |
|
|
|
Advances
Given |
105.701 |
|
0,44 |
|
389.761 |
|
0,30 |
|
|
|
Other
Current Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS |
132.127 |
|
0,55 |
|
589.741 |
|
0,45 |
|
|
|
Long-term
Receivable |
132.127 |
|
0,55 |
|
589.741 |
|
0,45 |
|
|
|
Financial
Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Tangible
Fixed Assets (net) |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Intangible
Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Other
Non-Current Assets |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
241.116 |
|
1,00 |
|
1.316.525 |
|
1,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
169.766 |
|
0,70 |
|
1.237.783 |
|
0,94 |
|
|
|
Financial Loans |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Accounts
Payable |
169.528 |
|
0,70 |
|
1.236.118 |
|
0,94 |
|
|
|
Loans from
Owner |
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 |
238 |
|
0,00 |
|
200 |
|
0,00 |
|
|
|
Provisions |
0 |
|
0,00 |
|
1.465 |
|
0,00 |
|
|
|
Other
Current Liabilities |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
Owner |
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 |
71.350 |
|
0,30 |
|
78.742 |
|
0,06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
241.116 |
|
1,00 |
|
1.316.525 |
|
1,00 |
|
INCOME STATEMENTS
|
|
|
YTL |
|
|
|
YTL |
|
|
|
YTL |
|
|
|
|
|
|
26.07-31.12.2006 |
|
|
|
2007 |
|
|
|
01.01-30.06.2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
184.810 |
|
1,00 |
|
1.377.407 |
|
1,00 |
|
1.166.114 |
|
1,00 |
|
|
|
Cost of
Goods Sold |
169.410 |
|
0,92 |
|
1.323.173 |
|
0,96 |
|
1.107.716 |
|
0,95 |
|
|
|
Gross Profit |
15.400 |
|
0,08 |
|
54.234 |
|
0,04 |
|
58.398 |
|
0,05 |
|
|
|
Operating
Expenses |
14.330 |
|
0,08 |
|
27.790 |
|
0,02 |
|
21.230 |
|
0,02 |
|
|
|
Operating Profit |
1.070 |
|
0,01 |
|
26.444 |
|
0,02 |
|
37.168 |
|
0,03 |
|
|
|
Other
Income |
0 |
|
0,00 |
|
348 |
|
0,00 |
|
365 |
|
0,00 |
|
|
|
Other
Expenses |
0 |
|
0,00 |
|
0 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Financial
Expenses |
0 |
|
0,00 |
|
1.036 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Profit (loss) Before Tax |
1.070 |
|
0,01 |
|
25.756 |
|
0,02 |
|
37.533 |
|
0,03 |
|
|
|
Tax
Payable |
0 |
|
0,00 |
|
5.249 |
|
0,00 |
|
0 |
|
0,00 |
|
|
|
Net Profit (loss) |
1.070 |
|
0,01 |
|
20.507 |
|
0,01 |
|
37.533 |
|
0,03 |
|
FINANCIAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26.07-31.12.2006 |
|
|
|
2007 |
|
|
|
01.01-30.06.2008 |
|
|
|
|
|
LIQUIDITY RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Ratio |
0,64 |
|
|
|
0,59 |
|
|
|
-- |
|
|
|
|
|
Acid-Test Ratio |
0,02 |
|
|
|
0,03 |
|
|
|
-- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
ASSET STRUCTURE RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory/Total Assets |
0,00 |
|
|
|
0,23 |
|
|
|
-- |
|
|
|
|
|
Short-term Receivable/Total Assets |
0,00 |
|
|
|
0,00 |
|
|
|
-- |
|
|
|
|
|
Tangible Assets/Total Assets |
0,00 |
|
|
|
0,00 |
|
|
|
-- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TURNOVER RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Turnover |
-- |
|
|
|
4,45 |
|
|
|
-- |
|
|
|
|
|
Stockholders' Equity Turnover |
2,59 |
|
|
|
17,49 |
|
|
|
-- |
|
|
|
|
|
Asset Turnover |
0,77 |
|
|
|
1,05 |
|
|
|
-- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STRUCTURE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' Equity/Total Assets |
0,30 |
|
|
|
0,06 |
|
|
|
-- |
|
|
|
|
|
Current Liabilities/Total Assets |
0,70 |
|
|
|
0,94 |
|
|
|
-- |
|
|
|
|
|
Financial Leverage |
0,70 |
|
|
|
0,94 |
|
|
|
-- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFITABILITY RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit/Stockholders' Eq. |
0,01 |
|
|
|
0,26 |
|
|
|
-- |
|
|
|
|
|
Operating Profit Margin |
0,01 |
|
|
|
0,02 |
|
|
|
0,03 |
|
|
|
|
|
Net Profit Margin |
0,01 |
|
|
|
0,01 |
|
|
|
0,03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COLLECTION-PAYMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Collection Period (days) |
257,38 |
|
|
|
154,14 |
|
|
|
-- |
|
|
|
|
|
Average Payable Period (days) |
360,25 |
|
|
|
336,31 |
|
|
|
-- |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.77 |
|
UK Pound |
1 |
Rs.79.78 |
|
Euro |
1 |
Rs.63.36 |
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%)