MIRA INFORM REPORT

 

 

Report Date :           

13.12.2011

 

IDENTIFICATION DETAILS

 

Name :

MCCORMICK KUTAS GIDA SANAYI DIS TICARET A.S.

 

 

Registered Office :

Cinar Koyu Maden Alti Mevkii Izmir Yolu Uzeri No:1 Kemalpasa Izmir

 

 

Country :

Turkey

 

 

Date of Incorporation :

12.01.1996

 

 

Com. Reg. No.:

663-KPASA-6533

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of food products mainly sauce

 

 

No. of Employees :

70 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Turkey

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY IDENTIFICATION

 

NAME

:

MCCORMICK KUTAS GIDA SANAYI DIS TICARET A.S.

HEAD OFFICE ADDRESS

:

Cinar Koyu Maden Alti Mevkii Izmir Yolu Uzeri No:1 Kemalpasa Izmir / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The door number was changed from “34” to “1” by the Municipality.

PHONE NUMBER

:

90-232-878 70 80 (pbx)

 

FAX NUMBER

:

90-232-878 70 82

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

The paid-in capital is declared by the subject. There is no certification for the paid-in capital..

 

TAX OFFICE

:

Kemalpasa

TAX NO

:

6070038855

REGISTRATION NUMBER

:

663-KPASA-6533

REGISTERED OFFICE

:

Izmir Chamber of Commerce

DATE ESTABLISHED

:

12.01.1996

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   2.572.000

PAID-IN CAPITAL

:

TL   2.572.000

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Mccormick Kutas Food Service Ltd.

99 %

Others

 

 

 

REMARKS ON SHAREHOLDERS

:

The main shareholder "Mccormick Kutas Food Service Ltd." is a foreign company located in U.K.

 

SISTER COMPANIES

:

IZMIR PASTORIZE YUMURTA SANAYI VE TICARET A.S.

KUTAS AGRO ZIRAAT VE TICARET A.S.

KUTAS TARIM URUNLERI DIS TICARET VE SANAYI A.S.

PACOVIS GIDA SANAYI VE TICARET A.S.

SAFE SPICE GIDA STERILIZASYON SANAYI VE DIS TICARET A.S.

 

SUBSIDIARIES

:

Declared to be: None

 

BOARD OF DIRECTORS

:

Ilhan Fevzi Gurel

Chairman

Randy Lee Carper

Vice-Chairman

Darren Anthony Steele

Member

Francois Pierre Gouby

Member

Kazim Ilter Gurel

Member

Mehmet Gurel Kapani

Member

 

 

DIRECTORS

:

Zulfeli Menguc

General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of food products mainly sauce.

 

NACE CODE

:

DA.15.87

 

SECTOR

:

Food

 

TRADEMARKS OWNED

:

Mc&Ku

 

NUMBER OF EMPLOYEES

:

70

 

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.

 

IMPORT COUNTRIES

:

European Countries

 

MERCHANDISE IMPORTED

:

Spices

 

EXPORT COUNTRIES

:

Saudi Arabia

Jordan

Serbia

Russia

Romania

Greece

U.S.A.

Belgium

U.K.

Australia

U.A.E.

Finland

Sweden

Denmark

Ireland

France

 

MERCHANDISE  EXPORTED

:

Sauces

Seasonings

Vinegar

 

HEAD OFFICE ADDRESS

:

Cinar Koyu Maden Alti Mevkii Izmir Yolu Uzeri No:1 Kemalpasa Izmir / Turkey

 

BRANCHES

:

Head Office/Factory  :  Cinar Koyu Maden Alti Mevkii Izmir Yolu Uzeri No:1 Kemalpasa Izmir/Turkey

 

INVESTMENTS

:

None

 

 

 

FINANCE

 

MAIN DEALING BANKS

:

Turk Ekonomi Bankasi Izmir Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

 

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

 ( 01.01-30.11.2011)

12,20 %

1,6616

2,3280

2,6658

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.42

UK Pound

1

Rs.81.92

Euro

1

Rs.69.94

 

 

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.