MIRA INFORM REPORT

Report Date :

20.06.2011

IDENTIFICATION DETAILS

Name :	ALPIN CORAP SANAYI VE TICARET LTD. STI.

Registered Office :	Baksav Bakir ve Pirinc San. Sit. Mustafa Kurtoglu Cad. No:18 Beylikduzu Istanbul

Country :	Turkey

Date of Incorporation :	07.12.2000

Com. Reg. No.:	449371

Legal Form :	Limited Company

Line of Business :	Manufacture and trade of socks

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

Bottom of Form

COMPANY IDENTIFICATION

NAME	:	ALPIN CORAP SANAYI VE TICARET LTD. STI.
HEAD OFFICE ADDRESS	:	Baksav Bakir ve Pirinc San. Sit. Mustafa Kurtoglu Cad. No:18 Beylikduzu Istanbul / Turkey
PHONE NUMBER	:	90-212-876 20 82
FAX NUMBER	:	90-212-876 20 88

LEGAL STATUS AND HISTORY

TAX OFFICE

Dis Ticaret

TAX NO

0570095261

REGISTRATION NUMBER

449371

REGISTERED OFFICE

Istanbul Chamber of Commerce

DATE ESTABLISHED

07.12.2000

ESTABLISHMENT GAZETTE DATE/NO

13.12.2000/5195

LEGAL FORM

Limited Company

TYPE OF COMPANY

Private

REGISTERED CAPITAL

TL 13.970.800

PAID-IN CAPITAL

TL 13.970.800

HISTORY

Previous Registered Capital	:	TL 3.500.000
Changed On	:	18.09.2008 (Commercial Gazette Date /Number 24.09.2008/ 7156)
Previous Registered Capital	:	TL 9.640.000
Changed On	:	18.05.2010 (Commercial Gazette Date /Number 25.05.2010/ 7570)

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Murat Bekmezci	50 %
Habib Bekmezci	50 %

SISTER COMPANIES

ALPIN TEKSTIL SANAYI VE DIS TICARET LTD. STI.

DIRECTORS

Habib Bekmezci
Murat Bekmezci

OPERATIONS

BUSINESS ACTIVITIES

Manufacture and trade of socks

NACE CODE

DB.17.71

SECTOR

Textile

NUMBER OF EMPLOYEES

490

NET SALES

29.724.337 TL	(01.01-30.09.2009)

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

Pakistan

Syria

Romania

MERCHANDISE IMPORTED	:	Yarn
EXPORT COUNTRIES	:	Germany U.K. Romania Slovakia Poland Sweden Ireland France Free Zone Italy
MERCHANDISE EXPORTED	:	Socks
HEAD OFFICE ADDRESS	:	Baksav Bakir ve Pirinc San. Sit. Mustafa Kurtoglu Cad. No:18 Beylikduzu Istanbul / Turkey ( owned )
BRANCHES	:	Head Office/Factory : Baksav Bakir ve Pirinc San. Sit. Mustafa Kurtoglu Cad. No:18 Beylikduzu Istanbul/Turkey (owned)
INVESTMENTS	:	Machinery investments are going on.

FINANCE

MAIN DEALING BANKS

Yapi ve Kredi Bankasi Beylikduzu Branch

PAYMENT BEHAVIOUR

No payment delays have come to our knowledge.

KEY FINANCIAL ELEMENTS

	(01.01-30.09.2009) TL	2010 TL
Net Sales	29.724.337
Net Profit (loss)	1.658.507
Profit (Loss) Before Tax		2.546.499

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
( 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.44.93
UK Pound	1	Rs.72.43
Euro	1	Rs.63.62

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