MIRA INFORM REPORT

Report Date :

21.01.2011

IDENTIFICATION DETAILS

Correct Name :	OTO IRMAK MOTORLU ARACLAR TICARET VE SANAYI A.S.

Registered Office :	2822 Sok. No: 1-3 1. Sanayi Sitesi Izmir

Country :	Turkey

Date of Incorporation :	25.02.1982

Com. Reg. No.:	45603-K-1982

Legal Form :	Joint Stock Company

Line of Business :	Trader of Automotive Spare Parts

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

Full name of the firm was missing at your inquiry.

COMPANY IDENTIFICATION

NAME	:	OTO IRMAK MOTORLU ARACLAR TICARET VE SANAYI A.S.
HEAD OFFICE ADDRESS	:	2822 Sok. No: 1-3 1. Sanayi Sitesi Izmir / Turkey
PHONE NUMBER	:	90-232-433 97 73
FAX NUMBER	:	90-232-458 34 74
WEB-ADDRESS	:	www.otoirmak.com.tr
E-MAIL	:	info@otoirmak.com.tr

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		:		Cakabey
TAX NO		:		6490013269
REGISTRATION NUMBER		:		45603-K-1982
REGISTERED OFFICE		:		Izmir Chamber of Commerce
DATE ESTABLISHED		:		25.02.1982
LEGAL FORM	:		Joint Stock Company
TYPE OF COMPANY	:		Private
REGISTERED CAPITAL	:		TL 4.448.711
PAID-IN CAPITAL	:		TL 4.448.711

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Ismail Irmak	23,99 %
N. Mehmet Irmak	20 %
Kadir Uyanik	19 %
Nihal Irmak	14 %
Ozgur Irmak	10 %
Ogunc Irmak	10 %
Halime Uyanik	2 %
Gul Uyanik

BOARD OF DIRECTORS

Ismail Irmak	Chairman
Kadir Uyanik	Vice-Chairman
N. Mehmet Irmak	Member

OPERATIONS

BUSINESS ACTIVITIES	:	Trade of automotive spare parts.
NACE CODE	:	G .50.30
SECTOR	:	Commerce
NUMBER OF EMPLOYEES	:	21
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	:	Automotive spare parts
EXPORT COUNTRIES	:	China India
MERCHANDISE EXPORTED	:	Gaskets Parts Spark- ignition engines Transmission shafts
HEAD OFFICE ADDRESS	:	2822 Sok. No: 1-3 1. Sanayi Sitesi Izmir / Turkey ( owned by shareholder(s) )
INVESTMENTS	:	None

FINANCE

MAIN DEALING BANKS

T. Is Bankasi 1. Sanayi Branch

Yapi ve Kredi Bankasi Site 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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.58
UK Pound	1	Rs.72.73
Euro	1	Rs.61.45

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