MIRA INFORM REPORT

 

 

Report Date :           

14.07.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

MERT TEKSTIL ITHALAT VE IHRACAT LTD. STI.

 

 

Registered Office :

Camlik Mah. Camlik Cad. Yesilkent Sit. No:94 Merkez Denizli

 

 

Country :

Turkey

 

 

Date of Incorporation :

26.06.1979

 

 

Co. Reg. No.:

19224

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Trader of weaving and textile machinery and dye

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment behavior  :

Slow

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Turkey

b1

b1

 

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

:

MERT TEKSTIL ITHALAT VE IHRACAT LTD. STI.

HEAD OFFICE ADDRESS

:

Camlik Mah. Camlik Cad. Yesilkent Sit. No:94 Merkez Denizli / Turkey

PHONE NUMBER

:

90-258-211 35 50

 

FAX NUMBER

:

90-258-211 89 50

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Change at registration no.

 

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

 

 

TAX OFFICE

:

Pamukkale

TAX NO

:

6180038825

REGISTRATION NUMBER

:

19224

REGISTERED OFFICE

:

Denizli Chamber of Commerce

DATE ESTABLISHED

:

26.06.1979

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   10.000

PAID-IN CAPITAL

:

TL   10.000

HISTORY

:

Previous Address

:

Camlaralti Mah. Kinikli Cad. No: 1 Merkez – Denizli

Changed On

:

23.06.2008 (Commercial Gazette Date /Number 02.07.2008/ 7096)

Previous Shareholder

:

Please vide Previous Shareholders section for the former shareholders’ names.

Changed On

:

23.08.2007 (Commercial Gazette Date /Number 29.08.2007/ 6884)

Other Changes

:

The firm was firstly established in Istanbul on 26.06.1979 and registered at Istanbul Commercial Registry with registration no:164690. Then the firm moved to Denizli and registered at Denizli Commercial Registry with reg no. 19224.

Changed On

:

10.05.2001 (Commercial Gazette Date /Number 23.05.2001/ 5301)

PREVIOUS SHAREHOLDERS

:

Hakan Mogul

99 %

Alaaddin Tokel

1 %

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Hakan Mogul

50 %

Yavuz Mogul

50 %

 

 

SISTER COMPANIES

:

Declared to be: None

 

SUBSIDIARIES

:

Declared to be: None

 

DIRECTORS

:

Huseyin Mogul

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Trade of weaving and textile machinery and dye. 

 

NACE CODE

:

G .51.83

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

4

 

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.

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT VALUE

:

0 TL

(2010)

 

 

EXPORT COUNTRIES

:

Germany

India

Egypt

Thailand

 

MERCHANDISE  EXPORTED

:

Weaving machines

 

HEAD OFFICE ADDRESS

:

Camlik Mah. Camlik Cad. Yesilkent Sit. No:94 Merkez Denizli / Turkey

( owned by shareholder(s) )

 

 

 

FINANCE

 

MAIN DEALING BANKS

:

Finansbank Bayramyeri Branch

Garanti Bankasi Bayramyeri Branch

 

PAYMENT BEHAVIOUR

:

We are informed about a few payment delays which were resolved later on.

 

 

 

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

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-31.03.2011)

5,40 %

1,5753

2,1664

2,5072

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.07

Euro

1

Rs.62.40

 

 

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

 

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.