MIRA INFORM REPORT

 

 

 

Report Date :

20.09.2008

 

IDENTIFICATION DETAILS

 

Name :

BETA GIDA SANAYI VE TICARET A.S.

 

 

Registered Office :

Cemalpasa  Mah. Fuzuli Cad. 14. Sok. Gulsa Apt. No: 5/A Zemin Kat Adana

 

 

Country :

Turkey

 

 

Date of Incorporation :

January 1987

 

 

Com. Reg. No.:

19909

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Packaging and Trade of Tea, Trade of Food Products

 

 

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

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

COMPANY IDENTIFICATION

 

NAME

:

BETA GIDA SANAYI VE TICARET A.S.

ADDRESS

:

Head Office: Cemalpasa  Mah. Fuzuli Cad. 14. Sok. Gulsa Apt. No: 5/A Zemin Kat Adana/ Turkey

PHONE NUMBER

:

90-322-457 72 07

FAX NUMBER

:

90-322-457 73 93

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE / NO

:

Yuregir / 1670009422

REGISTRATION NUMBER

:

19909

REGISTERED OFFICE

:

Adana Chamber of  Industry and Commerce

DATE ESTABLISHED

:

January 1987 (Commercial Registry Gazette Date/No:10.02.1987/1700)

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

YTL 6,000,000

HISTORY

:

The registered capital was increased from YTL 3,000,000 to YTL 6,000,000 on 01.05.2008 (Commercial Registry Gazette Date/No:09.05.2008/7059). This increase is decided to be financed by cash. According to the capital increase decision ¼ of the increase has to be paid within 3 months following the date of capital increase and the rest has to be paid up within 3 years.

 

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

 

:

Ekrem Ugur

Celal Ugur

Yusuf Ugur

Besir Ugur

Fatma Ugur Ersoz

 

     25 %

     25 %

     25 %

23,33 %

 1,67  %

GROUP PARENT COMPANY

 

:

None

SISTER COMPANIES

:

Beta Kazakhstan CO.

Beta Uzbekistan CO.

Beta Kyrgyzstan CO.

Beta Azerbaijan CO.

Beta Russia CO.

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Besir  Ugur

Celal Ugur

Fatma Ugur Ersoz

Ekrem Ugur

Yusuf Ugur

Chairman

Vice-Chairman

Member

Member

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Packaging and trade of tea, trade of food products

 

TRADEMARKS TRADED

:

“Beta Tea”,  “Howdah”,  “Champion”, “Green Tea”, “Natural Flower”, “Golden Selected”, “Golden Blend”, “Earl Grey”, “Bayce Grey”, “Bayce Klasik”, “Leader”.

 

NUMBER OF EMPLOYEES

:

72

 

NET SALES

:

(YTL Thousand)

26,700

36,327

38,642

42,335

51,215

 

 

(2001)

(2002)

(2003)

(2004)

(2005)

REMARKS ON NET SALES

:

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 fresh financial data. As the firm’s shares are not open to public it is not obliged to announce its data.

 

CAPACITY

:

Packaging Capacity (Tons/Yr.): 12,000

 

IMPORT VALUE

:

YTL 741,960

USD 18 million

USD 20 million

(2002)

(2003)

(2004)

 

IMPORT COUNTRIES

:

China, Germany, Indonesia, India, Kenya, Sri Lanka, Vietnam…

 

MERCHANDISE IMPORTED

 

:

Tea, aroma and promotion materials

EXPORT VALUE

:

(YTL Thousand)

25,466

34,748

38,065

6,271

7,233

 

(2001)

(2002)

(2003)

(2004)

(2005)

 

EXPORT COUNTRIES

 

:

Azerbaijan, Dagestan, Iran, Kazakhstan, Kyrgyzstan, Mersin Free Zone, Russia, Uzbekistan…

 

MERCHANDISE EXPORTED

 

:

Tea,flour, cereal

PREMISES

:

Head Office: Cemalpasa  Mah. Fuzuli Cad. Gulsa Apt. No: 5/A Zemin Kat Adana (owned)

 

Branch Office: Kaptanpasa Mah. Darulaceze Cad. Famas Is Merkezi B Blok No:45 D:15-16 Okmeydani Istanbul

 

Packaging Plant / Branch Office: Mumin Ozyurt Cad. 4. Sok. No:22 Mersin Serbest Bolge (Free Zone) Mersin (2,943 sqm) (rented)

 

Store: Misir Carsisi- Adana (owned)

 

Branch: Atikop Toptancilar Sitesi 12. Blok No: 9 Seyhan Adana (owned)

 

Branch : Adana (rented)

 

 

SIZE OF BUSINESS

:

Large

 

 

 

FINANCE

 

MAIN DEALING BANKERS

:

Yapi ve Kredi Bankasi Adana branch in Adana

Alternatif Bank Adana branch in Adana

Albaraka Turk Katilim Bankasi Adana branch in Adana

Turkiye Finans Katilim Bankasi Adana  branch in Adana

Turk Ekonomi Bankasi Adana branch in Adana

Asya Finans Katilim Bankasi Adana branch in Adana

 

PAYMENT BEHAVIOUR

:

We are informed about a few payment delays.

 

 

 

COMMENT ON FINANCIAL POSITION

 

GENERAL FINANCIAL

POSITION

 

Undetermined; the firm declines to give us an authorization to gather its financial data. As the shares of the firm are not open to public, it is not obliged to announce its data.

 

 

 

 

Incr. in producers’ price index

 

Average YTL/$

Average YTL/EUR

Average YTL/GBP

(2001)

88.60 %

1.1991

1.0714

1.7300

(2002)

30.80 %

1.5168

1.3741

2.2001

(2003)

13.90 %

1.5302

1.7141

2.4982

(2004)

13.84 %

1.4266

1.7666

2.6001

(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.-31.08.2008)

12.49 %

1.2121

1.8537

2.3867

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.32

UK Pound

1

Rs.83.57

Euro

1

Rs.65.90

 

 

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