MIRA INFORM REPORT

Report Date :

11.03.2011

IDENTIFICATION DETAILS

Name :	CENNET IPEK OZDOGU

Registered Office :	Yali Mevkii No:63 Golturkbuku Bodrum Mugla

Country :	Turkey

Year of Establishment :	1993

Com. Reg. No.:	3459-Bodrum

Legal Form :	Liability of the subject is not limited to the capital.

Line of Business :	Trade of home textile products, fabric and jewelry and also processing and trade of ready-wear.

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Turkey

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

COMPANY IDENTIFICATION


NAME	:	CENNET IPEK OZDOGU
HEAD OFFICE ADDRESS	:	Yali Mevkii No:63 Golturkbuku Bodrum Mugla / Turkey
PHONE NUMBER	:	90-532-415 97 50(Contact number of Cennet Ipek Ozdogu)
FAX NUMBER	:	90-252-377 56 64

LEGAL STATUS AND HISTORY


NOTES ON LEGAL STATUS AND HISTORY	:	Liability of the subject is not limited to the capital.
TAX OFFICE	:	Bodrum
REGISTRATION NUMBER	:	3459-Bodrum
REGISTERED OFFICE	:	Bodrum Chamber of Commerce
DATE ESTABLISHED	:	1993
REMARKS ON DATE ESTABLISHED	:	The subject sole-proprietorship is declared to be established in 1993. As the sole-proprietorships are not obliged to be registered at commercial registry, it was registered at Bodrum Commercial Registry in May 1998. (Commercial Registry Gazette Date/No: 01.05.1998/4531)
LEGAL FORM	:	Sole-Proprietorship
TYPE OF COMPANY	:	Private

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Cennet Ipek Ozdogu	100 %

DIRECTORS

Cennet Ipek Ozdogu

OPERATIONS

BUSINESS ACTIVITIES	:	Trade of home textile products, fabric and jewelry and also processing and trade of ready-wear.
NACE CODE	:	G .52.48
NUMBER OF EMPLOYEES	:	5
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	:	India Indonesia
MERCHANDISE IMPORTED	:	Jewelry Fabric
HEAD OFFICE ADDRESS	:	Yali Mevkii No:63 Golturkbuku Bodrum Mugla / Turkey
BRANCHES	:	Head Office/Workshop : Yali Mevkii No:63 Golturkbuku Bodrum Mugla/Turkey Branch Office : Alacati Izmir/Turkey
INVESTMENTS	:	None

FINANCE


PAYMENT BEHAVIOUR	:	No payment delays have come to our knowledge.

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. The liability of the sole-proprietorships is not limited to the capital. The owners of the sole-proprietorships are responsible for the debts of the sole-proprietorships with all of their personal wealth.

	Incr. in producers’ price index	Average USD/TL	Average EUR/TL	Average GBP/ TL
( 2007 )	5,94 %	1,3075	1,7901	2,6133
( 2008 )	8,11 %	1,2858	1,8876	2,3708
( 2009 )	5,93 %	1,5460	2,1529	2,4094
( 2010 )	8,87 %	1,5128	2,0096	2,3410
( 01.01-28.02.2011)	4,13 %	1,5841	2,1576	2,5140

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.11
UK Pound	1	Rs.72.91
Euro	1	Rs.62.56

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.