MIRA INFORM REPORT

Report Date :

13.06.2011

IDENTIFICATION DETAILS

Name :	ALTERA TIBBI MALZEME SANAYI VE TICARET A.S.

Formerly Known As :	ALTERA TIBBI MALZEME SANAYI VE TICARET LTD. STI

Registered Office :	Turan Mah. P.32 K II D Ada 1293 Parsel 3 Tire Organize Sanayi Bolgesi Tire Izmir

Country :	Turkey

Year of Establishment :	1996

Com. Reg. No.:	2346

Legal Form :	Joint Stock Company

Line of Business :	Manufacture and trade of plastic disposable medical devices and accessories.

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Turkey

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

COMPANY IDENTIFICATION


NAME	:	ALTERA TIBBI MALZEME SANAYI VE TICARET A.S.
HEAD OFFICE ADDRESS	:	Turan Mah. P.32 K II D Ada 1293 Parsel 3 Tire Organize Sanayi Bolgesi Tire Izmir / Turkey
PHONE NUMBER	:	90-232-237 59 49 (Administrative Office) 90-232-513 51 12 (Head Office)
FAX NUMBER	:	90-232-253 94 04 (Administrative Office) 90-232-513 51 14 (Head Office)
WEB-ADDRESS	:	www.altera.com.tr
E-MAIL	:	info@altera.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	:	Tire
TAX NO	:	0600298703
REGISTRATION NUMBER	:	2346
REGISTERED OFFICE	:	Tire Chamber of Commerce

DATE ESTABLISHED

1996

ESTABLISHMENT GAZETTE DATE/NO

28.02.1996/3986

LEGAL FORM

Joint Stock Company

TYPE OF COMPANY

Private

REGISTERED CAPITAL

TL 8.000.000

PAID-IN CAPITAL

TL 8.000.000

HISTORY

Previous Legal Type	:	Limited Company
Changed On	:	01.07.2005 (Commercial Gazette Date /Number 07.07.2005/ 6341)
Previous Name	:	Altera Tibbi Malzeme Sanayi Ve Ticaret Ltd. Sti
Changed On	:	01.07.2005 (Commercial Gazette Date /Number 07.07.2005/ 6341)
Previous Registered Capital	:	TL 5.500.000
Changed On	:	22.06.2009 (Commercial Gazette Date /Number 07.07.2009/ 7348)
Previous Registered Capital	:	TL 6.100.000
Changed On	:	17.06.2010 (Commercial Gazette Date /Number 30.06.2010/ 7596)

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Meditera Ithalat ve Ihracat Ltd Sti.	40 %
Atill Tibbi Malzeme Ticaret Ltd Sti.	26 %
Mertsel Ecza Depolari Sanayi ve Ticaret Ltd Sti.	19 %
Atilla Sevincli	14 %
Mert Sevincli	1 %

GROUP

MEDITERA GROUP OF COMPANIES

SISTER COMPANIES

ATILL TIBBI MALZEME TICARET LTD. STI.

DISERA TIBBI MALZEME LOJISTIK SANAYI VE TICARET A.S.

MEDITERA ITHALAT VE IHRACAT LTD. STI.

MERTSEL ECZA DEPOLARI SANAYI VE TICARET LTD. STI.

ORTIP TIBBI MALZEME SANAYI VE TICARET A.S.

SUBSIDIARIES

DISERA TIBBI MALZEME LOJISTIK SANAYI VE TICARET A.S. ( 5 % )

MEDITERA ITHALAT VE IHRACAT LTD STI. ( 14 % )

MERTSEL ECZA DEPOLARI SANAYI VE TICARET LTD STI. ( 5,97 % )

ORTIP TIBBI MALZEME SANAYI VE TICARET A.S. ( 5 % )

BOARD OF DIRECTORS

Atilla Sevincli	Chairman
Mert Sevincli	Vice-Chairman
Hicret Yanik	Member

OPERATIONS

BUSINESS ACTIVITIES

Manufacture and trade of plastic disposable medical devices and accessories.

NACE CODE

DG.24.42

TRADEMARKS OWNED

Altech

NUMBER OF EMPLOYEES

NET SALES

5.713.757 TL	(2008)
6.056.363 TL	(01.01-30.09.2009)

REMARKS ON NET SALES

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

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 fresh financial data. As the firm's shares are not open to public it is not obliged to announce its data.

IMPORT VALUE

2.195.971 TL	(2009)
3.131.972 TL	(2010)

IMPORT COUNTRIES

European Countries

MERCHANDISE IMPORTED

Plastic raw materials

EXPORT COUNTRIES	:	Singapore Malaysia Indonesia U.A.E. Iran Syria Lebanon Macedonia Republic Egypt Tunisia Georgia Poland Italy Germany Australia Czech Republic Hungary Azerbaijan
MERCHANDISE EXPORTED	:	Moulding patterns Needles Syringes
HEAD OFFICE ADDRESS	:	Turan Mah. P.32 K II D Ada 1293 Parsel 3 Tire Organize Sanayi Bolgesi Tire Izmir / Turkey ( owned )
BRANCHES	:	Head Office/Production Plant : Turan Mah. P.32 K II D Ada 1293 Parsel 3 Tire Organize Sanayi Bolgesi Tire Izmir/Turkey (owned) Administrative Office : 5758 Sok. No:4/C Kat:3 Karabaglar Izmir/Turkey

FINANCE

MAIN DEALING BANKS

Akbank Izmir Kurumsal Branch

T.Vakiflar Bankasi Karabaglar Branch

PAYMENT BEHAVIOUR

No payment delays have come to our knowledge.

KEY FINANCIAL ELEMENTS

	(2008) TL	(2009) TL	(2010) TL
Profit (Loss) Before Tax	485.468	2.503.886	1.949.602

REMARKS ON KEY FINANCIAL ELEMENTS

The a.m. profit before tax figures, are the tax base profit figures.

COMMENT ON FINANCIAL POSITION

General Financial Position

The firm has profit but general financial position is undetermined.

	Incr. in producers’ price index	Average USD/TL	Average EUR/TL	Average GBP/ TL
( 2008 )	8,11 %	1,2858	1,8876	2,3708
( 01.01-30.09.2009)	3,60 %	1,5624	2,1386	2,3953
( 2009 )	5,93 %	1,5460	2,1529	2,4094
( 2010 )	8,87 %	1,5128	2,0096	2,3410
( 01.01-31.05.2011)	6,20 %	1,5693	2,2036	2,5324

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.72
UK Pound	1	Rs.72.93
Euro	1	Rs.64.72

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.