MIRA INFORM REPORT

 

 

Report Date :           

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

SAHINOGLU OTOMOTIV TICARET VE SANAYI LTD. STI.

 

 

Registered Office :

Mimar Sinan Mah. Yedpa Bulvari A Cad. No:15/16 Atasehir Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

02.08.1984

 

 

Com. Reg. No.:

18147/8

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale trade of automotive spare parts

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

360.000 USD

Status :

Satisfactory

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

 

 Bottom of Form

 

COMPANY IDENTIFICATION

 

NAME

:

SAHINOGLU OTOMOTIV TICARET VE SANAYI LTD. STI.

HEAD OFFICE ADDRESS

:

Mimar Sinan Mah. Yedpa Bulvari A Cad. No:15/16 Atasehir Istanbul / Turkey

PHONE NUMBER

:

90-216-471 00 15

 

FAX NUMBER

:

90-216-471 00 25

 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Anadolu Kurumlar

TAX NO

:

7980012912

REGISTRATION NUMBER

:

18147/8

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

02.08.1984

ESTABLISHMENT GAZETTE DATE/NO

:

08.08.1984/1070

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   1.000.000

PAID-IN CAPITAL

:

TL   1.000.000

HISTORY

:

Previous Registered Capital

:

TL 80.000

Changed On

:

11.03.2010 (Commercial Gazette Date /Number 17.03.2010/ 7523)

Other Changes

:

When the subject moved from "Topcu Cad. No:7 Talimhane/Istanbul"  to "Mimar Sinan Mah. Yedpa Bulvari A Cad. No: 15/16 Atasehir/Istanbul", the registration number was changed from 204824 to 1814/8.

Changed On

:

25.04.1995 (Commercial Gazette Date /Number 01.05.1995/ 3778)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Huseyin Sahinoglu

45 %

Turgut Sahinoglu

25 %

Ummuhan Sahinoglu

15 %

Nurten Sahinoglu

15 %

 

 

SISTER COMPANIES

:

Declared to be: None

 

SUBSIDIARIES

:

None

 

DIRECTORS

:

Huseyin Sahinoglu

 

Turgut Sahinoglu

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Wholesale trade of automotive spare parts.

 

NACE CODE

:

G .50.30

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

10

 

NET SALES

:

3.838.997 TL

(2009) 

5.107.516 TL

(2010) 

1.367.955 TL

(01.01-31.03.2011) 

 

 

REMARKS ON NET SALES

:

The net sales figures are declared by the subject company. There is no certification for these figures.

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

 

IMPORT VALUE

:

725.000 TL

(2009)

935.000 TL

(2010)

276.000 TL

(01.01-31.03.2011)

 

 

IMPORT COUNTRIES

:

U.K.

Italy

U.S.A.

Japan

China

India

Taiwan

 

MERCHANDISE IMPORTED

:

Pickup truck spare parts

Truck spare parts

 

EXPORT VALUE

:

0 TL

(2009)

0 TL

(2010)

0 TL

(01.01-31.03.2011)

 

 

HEAD OFFICE ADDRESS

:

Mimar Sinan Mah. Yedpa Bulvari A Cad. No:15/16 Atasehir Istanbul / Turkey

( owned ) (360 sqm)

 

INVESTMENTS

:

None

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2010.

SIZE OF BUSINESS

:

Upper-Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

T. Is Bankasi Yedpa Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

(01.01-31.03.2011) TL

 

 

Net Sales

3.838.997

5.107.516

1.367.955

 

 

Profit (Loss) Before Tax

255.085

234.529

72.835

 

 

Stockholders' Equity

1.543.431

1.724.770

 

 

 

Total Assets

2.276.940

2.992.844

 

 

 

 

 

 

 

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

The key financial elements are declared by the subject company. There is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Good As of 31.12.2010

Profitability

Good Net Profitability  in 2009

Good Net Profitability  in 2010

Good Net Profitability (01.01-31.03.2011)

 

General Financial Position

Satisfactory

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 360.000 USD 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

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-31.03.2011)

5,40 %

1,5753

2,1664

2,5072

 ( 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.