MIRA INFORM REPORT

Report Date :

17.01.2011

IDENTIFICATION DETAILS

Correct Name :	MENTIS ILAC SANAYI TICARET LTD. STI.

Registered Office :	Florya Asfalti Florya Is Merkezi No:88 B Blok No:6 Bakirkoy Istanbul

Country :	Turkey

Date of Incorporation :	25.10.2004

Com. Reg. No.:	536241

Legal Form :	Limited Company

Line of Business :	Manufacturer and trader of medicine

RATING & COMMENTS

MIRA’s Rating :

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

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

NOTES

Address at your inquiry is the former address.

COMPANY IDENTIFICATION

NAME	:	MENTIS ILAC SANAYI TICARET LTD. STI.
HEAD OFFICE ADDRESS	:	Florya Asfalti Florya Is Merkezi No:88 B Blok No:6 Bakirkoy Istanbul / Turkey
PHONE NUMBER	:	90-212-482 41 53
FAX NUMBER	:	90-212-482 50 79

LEGAL STATUS AND HISTORY

REGISTRATION NUMBER

536241

REGISTERED OFFICE

Istanbul Chamber of Commerce

DATE ESTABLISHED

25.10.2004

ESTABLISHMENT GAZETTE DATE/NO

28.10.2004/6167

LEGAL FORM

Limited Company

TYPE OF COMPANY

Private

REGISTERED CAPITAL

TL 50.000

HISTORY

Previous Address	:	Eminonu Nisanca Mah. Turkeli Cad. Nisanca Yokusu Sok. No:1/3 D:11 Istanbul
Changed On	:	26.02.2009 (Commercial Gazette Date /Number 03.03.2009/ 7261)
Previous Shareholder	:	Please vide Previous Shareholders section for the former shareholders' names.
Changed On	:	15.05.2008 (Commercial Gazette Date /Number 22.05.2008/ 7067)

PREVIOUS SHAREHOLDERS

Secil Pehlivanogullari	80 %
Gkioultzin Impramoglou	20 %

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Mahmut Bilgic	80 %
Ali Bilgic	20 %

SISTER COMPANIES

CELTIS ILAC SANAYI VE TICARET A.S.

CPI TEKNOLOJI YAZILIM ARGE VE DANISMANLIK TICARET LTD.STI.

FOR RENT OTOMOTIV TICARET A.S.

INTEGRI ILAC SANAYI TICARET LTD.STI.

LOGUS ILAC SANAYI TICARET LTD.STI.

NOVITAS ILAC SANAYI TICARET LTD.STI.

NOVUS ILAC SANAYI TICARET LTD.STI.

NOVUS SIGORTA ARACILIK HIZMETLERI LTD.STI.

OPTO ILAC SANAYI TICARET LTD.STI.

SALUTIS ILAC SANAYI TICARET LTD.STI.

ULM ILAC SANAYI TICARET LTD.STI.

VITALIS ILAC SANAYI TICARET A.S.

DIRECTORS

Ali Bilgic	Director
Secil Pehlivanogullari	Director

OPERATIONS

BUSINESS ACTIVITIES	:	Manufacture and trade of medicine.
NACE CODE	:	DG.24.42
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.
HEAD OFFICE ADDRESS	:	Florya Asfalti Florya Is Merkezi No:88 B Blok No:6 Bakirkoy Istanbul / Turkey
BRANCHES	:	Production Plant : Sakarya/Turkey

FINANCE

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.

CREDIT OPINION WITHOUT OBLIGATION

We are of the opinion that, the subject is suitable for dealing on secured terms for any amount of business.

	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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.30
UK Pound	1	Rs.71.73
Euro	1	Rs.60.40

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.