MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Name :

HYUNDAI-ASSAN OTOMOTIV SANAYI VE TICARET A.S.

 

 

Registered Office :

Sehit Mehmet Fatih Ongul Sok. No:2 Kozyatagi Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

28.12.1994

 

 

Com. Reg. No.:

322463

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of automobiles and light commercial vehicles with trademark of Hyundai.

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

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

:

HYUNDAI-ASSAN OTOMOTIV SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Sehit Mehmet Fatih Ongul Sok. No:2 Kozyatagi Istanbul / Turkey

PHONE NUMBER

:

90-216-571 63 63

90-262-317 70 00 (Factory)

 

FAX NUMBER

:

90-216-571 64 64

 

WEB-ADDRESS

:

new.hyundai.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Buyuk Mukellefler

TAX NO

:

0910006485

REGISTRATION NUMBER

:

322463

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

28.12.1994

ESTABLISHMENT GAZETTE DATE/NO

:

30.12.1994/3693

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   448.735.000

HISTORY

:

Previous Registered Capital

:

TL 54.519.797,65

Changed On

:

30.07.2004 (Commercial Gazette Date /Number 04.08.2004/ 6107)

Previous Registered Capital

:

TL 206.220.258,08

Changed On

:

02.10.2009 (Commercial Gazette Date /Number 07.10.2009/ 7412)

Previous Address

:

E5 Karayol Uzeri 32. Km Assan Aluminyum Tesisleri Tuzla Istanbul

Changed On

:

23.09.2004 (Commercial Gazette Date /Number 28.09.2004/ 6145)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Kibar Holding A.S.

 

Hyundai Motor Company (Korea)

 

Others

 

 

 

REMARKS ON SHAREHOLDERS

 

:

Hyundai Motor Company is a foreign Company.

 

GROUP PARENT COMPANY

:

KIBAR HOLDING A.S.

 

SISTER COMPANIES

:

ALACA TANITIM DEKORASYON LTD. STI.

ASSAN ALUMINYUM SANAYI VE TICARET A.S.

ASSAN BILISIM A.S.

ASSAN CELIK URUNLERI SANAYI VE TICARET A.S.

ASSAN DEMIR VE SAC SANAYI A.S.

ASSAN GAYRIMENKUL GELISTIRME VE YATIRIM A.S.

ASSAN GIDA SANAYI VE TICARET A.S.

ASSAN HANIL OTOMOTIV SANAYI VE TICARET A.S.

ASSAN LIMAN ISLETMELERI A.S.

ASSAN PANEL SANAYI VE TICARET A.S.

ASSAN PROFIL SANAYI VE TICARET A.S.

ASSAN TASIMACILIK TICARET VE SANAYI A.S.

ASSAN TUKETICI FINANSMANI A.S.

ASSAN YAPI A.S.

BAREKS DIS TICARET A.S.

EGE ASSAN GIDA PAZARLAMA SANAYI VE TICARET A.S.

ISPAK IZMIT SIVI PAKETLEME SANAYI A.S.

KIBAR DERI SANAYI VE TICARET LTD. STI.

KIBAR DIS TICARET A.S.

KIBAR HOLDING A.S.

KIBAR INSAAT OTOMOTIV GIDA VE TURIZM TICARET VE SANAYI LTD. STI.

KIBAR INTERNATIONAL S.A.

KIBAR SIGORTA ARACILIK HIZMETLERI A.S.

KIBAROGULLARI SAGLIK TURIZM INSAAT TICARET VE SANAYI LTD. STI.

SICPA ASSAN URUN GUVENLIGI SANAYI VE TICARET A.S.

 

BOARD OF DIRECTORS

:

Ali Kibar

Chairman

Kwang Heum Um

Vice-Chairman

Won Hee Lee

Member

Hong Soon Kim

Member

Dong Sun Park

Member

Chang Seok Im

Member

Byung Jin Jin

Member

Balwoo Nam

Member

Asim Kibar

Member

Ahmet Kibar

Member

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of automobiles and light commercial vehicles with trademark of Hyundai.

 

NACE CODE

:

DM.34.10

 

TRADEMARKS OWNED

:

Hyundai

 

NET SALES

:

1.437.085.335 TL

(2008) 

1.301.064.396 TL

(2009) 

 

 

IMPORT VALUE

:

760.694.847 USD

(2006)

 

 

IMPORT COUNTRIES

:

Korea

India

 

MERCHANDISE IMPORTED

:

Automobiles

Spare parts and accessories for automobiles

 

EXPORT VALUE

:

634.334 TL Thousand

(2008)

161.506 TL Thousand

(2009)

 

 

EXPORT COUNTRIES

:

Belgium

South Korea

Azerbaijan

Northern Cyprus Turkish Republic

Bosnia and Herzegovina

Croatia

Czech Republic

Macedonia Republic

Tajikistan

Uzbekistan

Kazakhstan

Georgia

Germany

Italy

Spain

Sweden

Switzerland

 

MERCHANDISE  EXPORTED

:

Automobiles

Filters for engines

Ignition wiring sets for vehicles

Parts of motor vehicles

Transport vehicles

 

HEAD OFFICE ADDRESS

:

Sehit Mehmet Fatih Ongul Sok. No:2 Kozyatagi Istanbul / Turkey ( rented )

 

BRANCHES

:

Factory  :  Ali Kahya  Beldesi Eski Bagdat Yolu Uzeri Izmit Kocaeli/Turkey (1.000.000 sqm)

 

 

TREND OF BUSINESS

:

There was a decline at business volume in nominal terms in 2009.

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Asya Kurumsal Branch

T.Is Bankasi Kozyatagi Kurumsal Branch

Yapi ve Kredi Bankasi Anadolu Kurumsal 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

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.32

UK Pound

1

Rs. 70.54

Euro

1

Rs.58.70

 

 

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.