MIRA INFORM REPORT

 

 

Report Date :

21.09.2011

 

IDENTIFICATION DETAILS

 

Name :

DEMSAN DENIZLI MENSUCAT SANAYI VE TICARET A.S.

 

 

Registered Office :

Goveclik Mah. Cumhuriyet Cad. 105. Sok. No:12 Denizli

 

 

Country :

Turkey

 

 

Date of Incorporation :

29.12.1986

 

 

Com. Reg. No.:

8424

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of textile products such as towel.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

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 – 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

 

COMPANY IDENTIFICATION

 

NAME

:

DEMSAN DENIZLI MENSUCAT SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Goveclik Mah. Cumhuriyet Cad. 105. Sok. No:12 Denizli / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

Head office address was changed from "Goveclik Beldesi - Denizli" to "Goveclik Mah. Cumhuriyet Cad. 105. Sok. No:12" by the municipality.

PHONE NUMBER

:

90-258-385 70 28

 

FAX NUMBER

:

90-258-385 71 75

 

WEB-ADDRESS

:

www.demsantextile.com

E-MAIL

:

info@demsantextile.com

 

 

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

:

Pamukkale

TAX NO

:

2910083907

REGISTRATION NUMBER

:

8424

REGISTERED OFFICE

:

Denizli Chamber of Commerce

 

DATE ESTABLISHED

:

29.12.1986

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   4.500.000

PAID-IN CAPITAL

:

TL   4.500.000

HISTORY

:

Previous Registered Capital

:

TL 1.850.000

Changed On

:

25.12.2006 (Commercial Gazette Date /Number 28.12.2006/ 6714)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Nursen Guntas

 

Hulusi Guntas

 

Nergis Gungor

 

Huriye Kilicarslan

 

Celal Demirkan

 

Salih Demirkan

 

Rasit Guntas

 

Muharrem Ozkan

 

Hacer Ozkan

 

Others

 

 

 

SISTER COMPANIES

:

Declared to be: None

 

SUBSIDIARIES

:

Declared to be: None

 

BOARD OF DIRECTORS

:

Celal Demirkan

Chairman

Hacer Ozkan

Member

Akile Ozer

Member

Fevziye Demirkan

Member

Rasit Guntas

Member

Sabri Ozkan

Member

 

 

DIRECTORS

:

Cuneyt Demirkan

Director

Muharrem Ozkan

General Manager

Salih Demirkan

Deputy General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of textile products such as towel.

 

NACE CODE

:

DB.17.20

 

SECTOR

:

Textile

 

NUMBER OF EMPLOYEES

:

118

 

NET SALES

:

20.921.957 TL

(2010) 

 

 

REMARKS ON NET SALES

:

The sales figure of 2010 is declared by the company. There is no certification for this figure.

 

IMPORT COUNTRIES

:

Egypt

Syria

Uzbekistan

Pakistan

 

MERCHANDISE IMPORTED

:

Machinery

Yarn

 

HEAD OFFICE ADDRESS

:

Goveclik Mah. Cumhuriyet Cad. 105. Sok. No:12 Denizli / Turkey ( owned )

 

BRANCHES

:

Head Office/Factory  :  Goveclik Mah. Cumhuriyet Cad. 105. Sok. No:12 Denizli/Turkey (owned) (18.443 sqm)

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Denizli Branch

Finansbank Denizli Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

 

 

 

 

Net Sales

20.921.957

 

 

 

 

Net Profit (loss)

728.856

 

 

 

 

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

The key financial figures of 2010 are declared by the company. There is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

Profitability

In Order Net Profitability  in 2010

 

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

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-31.08.2011)

8,05 %

1,6083

2,2781

2,5994

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.22

UK Pound

1

Rs.75.63

Euro

1

Rs.65.64

 

 

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.