MIRA INFORM REPORT

Report Date :

02.04.2011

IDENTIFICATION DETAILS

Name :	RAMA DIS TICARET VE DANISMANLIK LTD. STI.

Formerly Known As :	Texcon Tekstil Danismanlik ve Ticaret Ltd. Sti.

Registered Office :	Turgutreis Mah. Tekstilkent A4 Blok No: 54 Esenler Istanbul

Country :	Turkey

Date of Incorporation :	03.12.2003

Com. Reg. No.:	510297

Legal Form :	Limited Company

Line of Business :	Wholesale trade of yarn.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Turkey

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NOTES

Head office has been moved but the movement hasn’t been registered at Commercial Registry..

COMPANY IDENTIFICATION

NAME	:	RAMA DIS TICARET VE DANISMANLIK LTD. STI.
HEAD OFFICE ADDRESS	:	Turgutreis Mah. Tekstilkent A4 Blok No: 54 Esenler Istanbul / Turkey
REMARKS ON HEAD OFFICE ADDRESS	:	The subject moved from “Atakent Mah. Avrupa Konutlari 11. B Blok Kat. 15 D. 31 Halkali - Istanbul/Turkey” to “Turgutreis Mah. Tekstilkent A4 Blok No: 54 Esenler-Istanbul/Turkey ”. However the new address has not been registered at Commercial Registry yet.
PHONE NUMBER	:	90-212-438 10 11

LEGAL STATUS AND HISTORY

REGISTRATION NUMBER

510297

REGISTERED OFFICE

Istanbul Chamber of Commerce

DATE ESTABLISHED

03.12.2003

ESTABLISHMENT GAZETTE DATE/NO

08.12.2003/5941

LEGAL FORM

Limited Company

TYPE OF COMPANY

Private

REGISTERED CAPITAL

TL 200.000

HISTORY

Previous Name	:	Texcon Tekstil Danismanlik ve Ticaret Ltd. Sti.
Changed On	:	24.08.2007 (Commercial Gazette Date /Number 31.08.2007/ 6885)
Previous Registered Capital	:	TL 5.000
Changed On	:	27.10.2005 (Commercial Gazette Date /Number 01.11.2005/ 6423)

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

V.Pandurangrao Tilgul	99,99 %
Hilmi Lacin Alkanli	0,01 %

DIRECTORS

V.Pandurangrao Tilgul

OPERATIONS

BUSINESS ACTIVITIES	:	Wholesale trade of yarn.
NACE CODE	:	G .51.41
SECTOR	:	Commerce
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 financial data. As the firm’s shares are not open to public it is not obliged to announce its data.
CAPACITY	:	None
PRODUCTION	:	None
HEAD OFFICE ADDRESS	:	Turgutreis Mah. Tekstilkent A4 Blok No: 54 Esenler Istanbul / Turkey
INVESTMENTS	:	None

FINANCE

PAYMENT BEHAVIOUR

We are informed about a few payment delays some of which were resolved later on.

COMMENT ON FINANCIAL POSITION

General Financial Position

General financial position is 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 USD/TL	Average EUR/TL	Average GBP/ TL
( 2007 )	5,94 %	1,3075	1,7901	2,6133
( 2008 )	8,11 %	1,2858	1,8876	2,3708
( 2009 )	5,93 %	1,5460	2,1529	2,4094
( 2010 )	8,87 %	1,5128	2,0096	2,3410
( 01.01-28.02.2011)	4,13 %	1,5841	2,1576	2,5140

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.93
Euro	1	Rs.63.24

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	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

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