MIRA INFORM REPORT

 

 

Report Date :

11.11.2011

 

IDENTIFICATION DETAILS

 

Name :

AVIS ILAC SANAYII VE TICARET A.S.

 

 

Registered Office :

Tuzla Organize Sanayi Bolgesi 10. Cadde No:8 Tuzla Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.06.2010

 

 

Com. Reg. No.:

739882

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of drugs. 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

--

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

:

AVIS ILAC SANAYII VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Tuzla Organize Sanayi Bolgesi 10. Cadde No:8 Tuzla Istanbul / Turkey

PHONE NUMBER

:

90-216-593 20 18

 

FAX NUMBER

:

90-216-593 24 08

 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Tuzla

TAX NO

:

1050570875

REGISTRATION NUMBER

:

739882

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

24.06.2010

ESTABLISHMENT GAZETTE DATE/NO

:

30.06.2010/7596

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   100.000

 

HISTORY

:

Previous Address

:

Adnan Kahveci Mah. Istanbul Caddesi No:68/A Bodrum Zemin Kat Gurpinar Beylikduzu-Istanbul

Changed On

:

24.11.2010 (Commercial Gazette Date /Number 30.11.2010/ 7697)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Meryem Goktas

49 %

Namaz Demirci

48 %

Adil Guney

1 %

Tahir Oktasli

1 %

Ozlem Demirci

1 %

 

 

SISTER COMPANIES

:

Declared to be: None

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Meryem Goktas

Chairman

Ozlem Demirci

Member

Namaz Demirci

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of drugs. 

 

The subject which was established on 24.06.2010 has declared that it started trial production in October 2011. The subject also declared that it has not performed any sales so far.

 

NACE CODE

:

DG.24.42

 

SECTOR

:

Chemicals

 

NUMBER OF EMPLOYEES

:

25

 

NET SALES

:

0 TL

(24.06-31.12.2010) 

0 TL

(01.01-30.06.2011) 

 

 

REMARKS ON NET SALES

:

The subject which was established on 24.06.2010 has declared that it started trial production in October 2011. The subject also declared that it has not performed any sales so far.

 

IMPORT COUNTRIES

:

U.K.

Germany

India

 

 

MERCHANDISE IMPORTED

:

Machine parts

Machinery

Raw materials

 

EXPORT VALUE

:

0 TL

(24.06-31.12.2010)

0 TL

(01.01-30.06.2011)

 

 

HEAD OFFICE ADDRESS

:

Tuzla Organize Sanayi Bolgesi 10. Cadde No:8 Tuzla Istanbul / Turkey

 

BRANCHES

:

Head Office/Factory  :  Tuzla Organize Sanayi Bolgesi 10. Cadde No:8 Tuzla Istanbul/Turkey

 

 


 

FINANCE

 

MAIN DEALING BANKS

:

Yapi ve Kredi Bankasi Tavukcuyolu Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(24.06-31.12.2010) TL

(01.01-30.06.2011) TL

Net Sales

0

0

Profit (Loss) Before Tax

-421.535

-490.155

Stockholders' Equity

-421.535

 

Total Assets

1.826.674

 

Current Assets

719.128

 

Non-Current Assets

1.107.546

 

Current Liabilities

2.248.209

 

Long-Term Liabilities

0

 

Gross Profit (loss)

0

0

Operating Profit (loss)

-420.770

-498.692

Net Profit (loss)

-421.535

-490.155

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Negative Stockholders’ Equity

Remarks on Capitalization

The loss at the last interim period is expected to have a further negative effect on equity total since the last balance sheet date.

Liquidity

Low As of 31.12.2010

Profitability

Operating Loss (24.06-31.12.2010)

Net Loss (24.06-31.12.2010)

Operating Loss (01.01-30.06.2011)

Net Loss (01.01-30.06.2011)

 

General Financial Position

Poor

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.06.2011)

6,21 %

1,5771

2,2246

2,5422

 ( 01.01-31.10.2011)

11,48 %

1,6444

2,3157

2,6459

 

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

719.128

0,39

Not Detailed Current Assets

0

0,00

Cash and Banks

1.391

0,00

Marketable Securities

0

0,00

Account Receivable

0

0,00

Other Receivable

458.805

0,25

Inventories

0

0,00

Advances Given

0

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

258.932

0,14

NON-CURRENT ASSETS

1.107.546

0,61

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

91.753

0,05

Intangible Assets

1.015.793

0,56

Deferred Tax Assets

0

0,00

Other Non-Current Assets

0

0,00

TOTAL ASSETS

1.826.674

1,00

CURRENT LIABILITIES

2.248.209

1,23

Not Detailed Current Liabilities

0

0,00

Financial Loans

0

0,00

Accounts Payable

199.661

0,11

Loans from Shareholders

0

0,00

Other Short-term Payable

2.025.750

1,11

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

22.798

0,01

Provisions

0

0,00

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

0

0,00

Not Detailed Long-term Liabilities

0

0,00

Financial Loans

0

0,00

Securities Issued

0

0,00

Long-term Payable

0

0,00

Loans from Shareholders

0

0,00

Other Long-term Liabilities

0

0,00

Provisions

0

0,00

STOCKHOLDERS' EQUITY

-421.535

-0,23

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

0

0,00

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

0

0,00

Equity of Consolidated Firms

0

0,00

Reserves

0

0,00

Revaluation Fund

0

0,00

Accumulated Losses(-)

0

0,00

Net Profit (loss)

-421.535

-0,23

TOTAL LIABILITIES AND EQUITY

1.826.674

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

The paid-in capital of the subject was zero as of 31.12.2010. It has to be noted that, at least 1/4 of the capital has to be paid within 3 months after the date of establishment. Although the firm was established on 24.06.2010, it appears that even 1/4 of the capital was not paid as of 31.12.2010.

 

 

INCOME STATEMENTS

 

 

(24.06-31.12.2010) TL

 

(01.01-30.06.2011) TL

 

Net Sales

0

0,00

0

0,00

Cost of Goods Sold

0

0,00

0

0,00

Gross Profit

0

0,00

0

0,00

Operating Expenses

420.770

0,00

498.692

0,00

Operating Profit

-420.770

0,00

-498.692

0,00

Other Income

0

0,00

14.896

0,00

Other Expenses

0

0,00

4.248

0,00

Financial Expenses

765

0,00

2.111

0,00

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

-421.535

0,00

-490.155

0,00

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

-421.535

0,00

-490.155

0,00

 

 

FINANCIAL RATIOS

 

 

(24.06-31.12.2010)

LIQUIDITY RATIOS

 

Current Ratio

0,32

Acid-Test Ratio

0,20

Cash Ratio

0,00

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,00

Short-term Receivable/Total Assets

0,25

Tangible Assets/Total Assets

0,05

TURNOVER RATIOS

 

Inventory Turnover

 

Stockholders' Equity Turnover

0,00

Asset Turnover

0,00

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

-0,23

Current Liabilities/Total Assets

1,23

Financial Leverage

1,23

Gearing Percentage

-5,33

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

1,00

Operating Profit Margin

 

Net Profit Margin

 

Interest Cover

-550,03

COLLECTION-PAYMENT

 

Average Collection Period (days)

 

Average Payable Period (days)

 

WORKING CAPITAL

-1529081,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.78

UK Pound

1

Rs.80.10

Euro

1

Rs.68.82

 

 

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.