MIRA INFORM REPORT

 

 

Report Date :

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KOSEOGLU OTOMOTIV TICARET VE SANAYI A.S.

 

 

Registered Office :

Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

03.01.1983

 

 

Com. Reg. No.:

191952

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Wholesale trade of automotive spare parts.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

136.000 EUR

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

:

KOSEOGLU OTOMOTIV TICARET VE SANAYI A.S.

HEAD OFFICE ADDRESS

:

Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul / Turkey

PHONE NUMBER

:

90-212-254 75 62

 

FAX NUMBER

:

90-212-237 42 22

 

WEB-ADDRESS

:

www.koseogluoto.com

E-MAIL

:

info@koseogluoto.com

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Maslak

TAX NO

:

5890007199

REGISTRATION NUMBER

:

191952

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

03.01.1983

ESTABLISHMENT GAZETTE DATE/NO

:

05.01.1983/664

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

 

REGISTERED CAPITAL

:

TL   500.000

HISTORY

:

Previous Registered Capital

:

TL 200.000

Changed On

:

23.06.2010 (Commercial Gazette Date /Number 29.06.2010/ 7595)

Previous Address

:

Sehit Muhtar Cad. No:22/1 Taksim Istanbul

Changed On

:

05.05.2011 (Commercial Gazette Date /Number 11.05.2011/ 7813)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Omer Koseoglu

23,20 %

Muammer Koseoglu

23,20 %

Mustafa Koseoglu

23,20 %

Abdullah Koseoglu

23,20 %

Ayse Koseoglu

7,20 %

 

 

BOARD OF DIRECTORS

:

Mustafa Koseoglu

Chairman

Abdullah Koseoglu

Member

Omer Koseoglu

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Wholesale trade of automotive spare parts.

 

NACE CODE

:

G .50.30

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

8

 

NET SALES

:

3.029.919 TL

(2009) 

3.048.480 TL

(01.01-30.09.2010) 

 

 

REMARKS ON NET SALES

:

The net sales figures 2009 and 01.01.-30.09.2010 are declared by the company, there is no certification for these figures.

 

IMPORT COUNTRIES

:

European Countries

Germany

France

U.S.A.

U.K.

 

MERCHANDISE IMPORTED

:

Spare parts

 

 

EXPORT VALUE

:

0 TL

(2009)

0 TL

(01.01-30.09.2010)

 

 

HEAD OFFICE ADDRESS

:

Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul / Turkey

 

BRANCHES

:

Warehouse  :  Feridiye Cad. No :90 Taksim Istanbul/Turkey

 

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There appears an upwards trend in  1.1 - 30.9.2010.

SIZE OF BUSINESS

:

Upper-Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

T. Is Bankasi Taksim Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(01.01-30.09.2010) TL

Net Sales

3.029.919

3.048.480

Profit (Loss) Before Tax

194.377

361.680

Stockholders' Equity

1.140.693

 

Total Assets

2.581.005

 

Current Assets

2.429.444

 

Non-Current Assets

151.561

 

Current Liabilities

1.440.312

 

Long-Term Liabilities

0

 

Operating Profit (loss)

381.624

422.353

Net Profit (loss)

155.242

289.155

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

The key financial figures are declared by the company, there is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Satisfactory As of 31.12.2009

Liquidity

Good As of 31.12.2009

Remarks On Liquidity

Current ratio is 1,69

Profitability

High Operating Profitability  in 2009

Good Net Profitability  in 2009

High Operating Profitability (01.01-30.09.2010)

High Net Profitability (01.01-30.09.2010)

 

General Financial Position

Fair

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

 

CREDIT LIMIT

 

:

136.000 EUR

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 136.000 EUR may be granted to the subject company.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 01.01-30.09.2010)

6,52 %

1,5178

2,0112

2,3426

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.04.2011)

6,04 %

1,5645

2,1852

2,5128

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.73.46

Euro

1

Rs.64.58

 

 

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.