MIRA INFORM REPORT

 

 

Report Date :           

29.12.2011

 

IDENTIFICATION DETAILS

 

Name :

GES GENEL ELEKTRIK SISTEMLERI YAPIM VE MUHENDISLIK A.S.

 

 

Formerly Known As :

Ges Genel Elektrik Sistemleri Yapim Ve Muhendislik Ltd. Sti.

 

 

Registered Office :

Genclik Cad N:35 Anittepe Ankara

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

07.11.1985

 

 

Com. Reg. No.:

58695

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Contracting, installation and preparing project of electric systems and manufacture and trade of electric panels

 

 

No. of Employees :

370

 

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

 

 

NOTES

:

Name at your inquiry is the former name.

 

 

COMPANY IDENTIFICATION

 

NAME

:

GES GENEL ELEKTRIK SISTEMLERI YAPIM VE MUHENDISLIK A.S.

HEAD OFFICE ADDRESS

:

Genclik Cad N:35 Anittepe Ankara / Turkey

PHONE NUMBER

:

90-312-231 83 56

 

FAX NUMBER

:

90-312-231 83 57

 

WEB-ADDRESS

:

www.geselektrik.com.tr

E-MAIL

:

genel@geselektrik.com.tr 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Change at tax no .

 

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

 

 

TAX OFFICE

:

Maltepe

TAX NO

:

3940458889

REMARKS ON TAX NO

:

As the subject company changed its legal status from limited company to joint stock company, the tax number was changed from "3940050316" to "3940458889"

 

REGISTRATION NUMBER

:

58695

REGISTERED OFFICE

:

Ankara Chamber of Commerce

DATE ESTABLISHED

:

07.11.1985

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   3.600.000

PAID-IN CAPITAL

:

TL   3.008.086

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

02.05.2011 (Commercial Gazette Date /Number 05.05.2011/ 7809)

Previous Name

:

Ges Genel Elektrik Sistemleri Yapim Ve Muhendislik Ltd. Sti.

Changed On

:

02.05.2011 (Commercial Gazette Date /Number 05.05.2011/ 7809)

Previous Registered Capital

:

TL 10.000

Changed On

:

09.11.2001 (Commercial Gazette Date /Number 14.11.2001/ 5424)

Previous Registered Capital

:

TL 600.000

Changed On

:

07.09.2007 (Commercial Gazette Date /Number 12.09.2007/ 6893)

Previous Registered Capital

:

TL 2.600.000

Changed On

:

16.12.2010 (Commercial Gazette Date /Number 21.12.2010/ 7712)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Aykut Ozdoruk

51 %

Recep Guder

31 %

Ersin Kucukparmak

10 %

Haci Ferruh Ersoy

5 %

Ali Osman Pehlivan

3 %

 

 

SISTER COMPANIES

:

GEM GENEL ELEKTRIK MONTAJ VE IMALAT SAN VE TIC A.S.

 

GES GENEL ENDUSTRIYEL SISTEMLER IMALAT INSAAT VE MONTAJ A.S.

 

SUBSIDIARIES

:

GES GENEL ENDUSTRIYEL SISTEMLER IMALAT INSAAT VE MONTAJ A.S.  ( 60 % )

 

BOARD OF DIRECTORS

:

Aykut Ozdoruk

Chairman

Recep Guder

Vice-Chairman

Ali Osman Pehlivan

Member

Haci Ferruh Ersoy

Member

Ersin Kucukparmak

Member

 

 

DIRECTORS

:

Recep Guder

General Manager

Yunus Akgun

Deputy General Manager

Omer Nejat Akat

Deputy General Manager

Ersin Kucukparmak

Deputy General Manager

Haci Ferruh Ersoy

Deputy General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Contracting, installation and preparing project of electric systems and manufacture and trade of electric panels. 

 

UNDERTAKEN PROJECTS

:

Name of Project :Mechanical installation of auxiliary equipment of EnerjiSA - Place Of Project : Adana

 

Name of Project :Mechanical installation of auxiliary equipment of EnerjiSA - Place Of Project : Artvin

 

Name of Project :Switchyard measurement, protection and design works of EnerjiSA

 

NACE CODE

:

F .45.31

 

NUMBER OF EMPLOYEES

:

370

 

NET SALES

:

5.525.921 TL

(2010) 

2.015.218 TL

(01.01-30.09.2011) 

 

 

REMARKS ON NET SALES

:

The net sale figure of 2010 is declared by the company. There is no certification for this figure.

 

IMPORT COUNTRIES

:

Germany

France

Italy

Spain

 

MERCHANDISE IMPORTED

:

Electric materials

 

 

EXPORT COUNTRIES

:

France

Bahrain

Saudi Arabia

Indonesia

Azerbaijan

Libya

Uganda

Ethiopia

 

MERCHANDISE  EXPORTED

:

Electronic apparatus

Panels

Static converters

 

HEAD OFFICE ADDRESS

:

Genclik Cad N:35 Anittepe  Ankara / Turkey ( owned )

 

BRANCHES

:

Workshop  :  Hasanoglan Elmadag Ankara/Turkey (owned)

 

 

TREND OF BUSINESS

:

There appears a decline at business volume in nominal terms in  1.1 - 30.9.2011.

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Yenisehir Branch

Finansbank Ulus Branch

T. Is Bankasi Guvenevler Branch

Turk Ekonomi Bankasi Ankara Branch

Yapi Kredi Bankasi Gaziosmanpasa Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(01.01-30.09.2011) TL

 

 

 

Net Sales

5.525.921

2.015.218

 

 

 

Profit (Loss) Before Tax

1.110.843

1.521.669

 

 

 

Stockholders' Equity

11.060.896

 

 

 

 

Total Assets

73.956.643

 

 

 

 

Current Assets

63.940.356

 

 

 

 

Non-Current Assets

10.016.287

 

 

 

 

Current Liabilities

62.895.747

 

 

 

 

Long-Term Liabilities

0

 

 

 

 

Gross Profit (loss)

 

4.450

 

 

 

Operating Profit (loss)

19.209.241

-168.388

 

 

 

Net Profit (loss)

1.073.000

1.270.074

 

 

 

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

The key financial figures of 2010 are declared by the company. There is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Low As of 31.12.2010

Remarks On Liquidity

Current ratio is 1,02

Profitability

High Operating Profitability  in 2010

High Net Profitability  in 2010

Operating Loss (01.01-30.09.2011)

High Net Profitability (01.01-30.09.2011)

 

General Financial Position

Unsatisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 01.01-30.11.2011)

12,20 %

1,6616

2,3280

2,6658

 

 

INCOME STATEMENT

 

 

(01.01-30.09.2011) TL

 

Net Sales

2.015.218

1,00

Cost of Goods Sold

2.010.768

1,00

Gross Profit

4.450

0,00

Operating Expenses

172.838

0,09

Operating Profit

-168.388

-0,08

Other Income

1.733.688

0,86

Other Expenses

43.631

0,02

Financial Expenses

0

0,00

Minority Interests

0

0,00

Profit (loss) of consolidated firms

0

0,00

Profit (loss) Before Tax

1.521.669

0,76

Tax Payable

251.595

0,12

Postponed Tax Gain

0

0,00

Net Profit (loss)

1.270.074

0,63

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.21

UK Pound

1

Rs.83.32

Euro

1

Rs.69.51

 

 

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.