MIRA
INFORM REPORT
|
Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PHARMA MONDIAL LTD. |
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Registered Office : |
P.K. 30 Cihangir Lefkosa Mersin Northern Cyprus |
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Country : |
Turkey |
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Date of Incorporation : |
15.03.1990 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture and Trade of Medicine |
RATING &
COMMENTS
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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 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
REMARKS: The company is
not located in Turkey. It is in Northern Cyprus Turkish Republic so, there is
no data for payment behavior.
COMPANY IDENTIFICATION
|
NAME |
: |
PHARMA MONDIAL LTD. |
|
ADDRESS |
: |
Head Office&Production Plant: P.K. 30
Cihangir Lefkosa Mersin Northern Cyprus Turkish Republic |
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PHONE NUMBER |
: |
90-392-232 41 80 |
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FAX NUMBER |
: |
90-392-232 41 75 |
LEGAL STATUS AND HISTORY
|
TAX NO |
: |
MS 3709 |
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REGISTERED OFFICE |
: |
Northern Cyprus Chamber of Commerce |
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DATE ESTABLISHED |
: |
15.03.1990 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
In Turkish Republic of Northern Cyprus, companies
are not obliged to register the capital increases at Commercial Registry. The
subject company has declared the capital is YTL 4,302,915. There is no
certification for this figure. |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Feridun Adahan Mustafa Ekrem Sureyya Adahan |
69 % 26 % 5
% |
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GROUP PARENT COMPANY |
: |
None |
||
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SISTER COMPANIES |
: |
Sodhan Ltd. Sti. |
||
|
DIRECTORS |
: |
Feridun Adahan |
General Manager |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Manufacture and trade of medicine |
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SECTOR |
: |
Chemicals |
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NUMBER OF
EMPLOYEES |
: |
20 |
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NET SALES |
: |
n.a. |
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REMARKS ON NET
SALES |
: |
The subject strictly declines to give us an
authorization to gather its financial data. As the subject’s shares are not
open to public it is not obliged to announce its data. |
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IMPORT COUNTRIES |
: |
India, UK, Germany, Italy, Turkey |
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MERCHANDISE
IMPORTED |
: |
Raw materials of medicine |
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EXPORT COUNTRIES |
: |
Turkey, UK, Germany |
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PREMISES |
: |
Head Office&Production Plant: P.K. 30
Cihangir Lefkosa Mersin Northern Cyprus Turkish Republic (owned) |
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FIXED CAPITAL
INVESTMENTS |
: |
None |
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FINANCE
|
MAIN DEALING BANKERS |
: |
Credit West Kucuk Kaymakli branch in
Northern Cyprus Turkish Republic Garanti Bankasi Lefkosa branch in Northern
Cyprus Turkish Republic |
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. |
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|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(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.45.72 |
|
UK Pound |
1 |
Rs.84.81 |
|
Euro |
1 |
Rs.67.60 |
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 |
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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 |
|
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 |
|
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 |
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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%)