MIRA INFORM REPORT

 

 

Report Date :

04.04.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

HARDI DIS TICARET LTD. STI.

 

 

Registered Office :

Cami Serif Mah.5217 Sok. Erdil Ishani K:4/8  Mersin

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.09.1997

 

 

Com. Reg. No.:

18965

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale trade of various products but mainly tea

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

5.000 USD

Status :

Small company

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Turkey

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY IDENTIFICATION

 

NAME

:

HARDI DIS TICARET LTD. STI.

HEAD OFFICE ADDRESS

:

Cami Serif Mah.5217 Sok. Erdil Ishani K:4/8  Mersin / Turkey

PHONE NUMBER

:

90-324-238 49 28

 

FAX NUMBER

:

90-324-238 49 29

 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Liman

TAX NO

:

4570071418

REGISTRATION NUMBER

:

18965

REGISTERED OFFICE

:

Mersin Chamber of Commerce and Industry

DATE ESTABLISHED

:

18.09.1997

ESTABLISHMENT GAZETTE DATE/NO

:

26.09.1997/4385

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   11.700

PAID-IN CAPITAL

:

TL   11.700

HISTORY

:

Previous Address

:

Camiserif Mahallesi 5217.Sok. Cogal Apt.K:3/7 Mersin

Changed On

:

16.05.2008 (Commercial Gazette Date /Number 22.05.2008/ 7067)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Shukrya M.Sulaiman

50 %

Salh M.Qadir Sultan

50 %

 

 

SUBSIDIARIES

:

None

 

DIRECTORS

:

Shukrya M.Slaiman

 

Salh M.Qadir Sultan

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Wholesale trade of various products but mainly tea.

 

NACE CODE

:

G .51.37

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

1

 

NET SALES

:

676.587 TL

(2009) 

698.786 TL

(2010) 

2.899.405 TL

(2011) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT VALUE

:

2.875.661 TL

(2011)

 

 

IMPORT COUNTRIES

:

Sri Lanka

 

MERCHANDISE IMPORTED

:

Tea

 

HEAD OFFICE ADDRESS

:

Cami Serif Mah.5217 Sok. Erdil Ishani K:4/8  Mersin / Turkey

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011.

SIZE OF BUSINESS

:

Small

 

 

FINANCE

 

MAIN DEALING BANKS

:

Garanti Bankasi Mersin Branch

Garanti Bankasi Serbest Bolge Branch

 

CREDIT FACILITIES

:

No credit facility has come to our knowledge.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(2011) TL

 

 

 

Net Sales

698.786

2.899.405

 

 

 

Profit (Loss) Before Tax

-12.375

1.696

 

 

 

Stockholders' Equity

15.433

 

 

 

 

Total Assets

21.685

 

 

 

 

Current Assets

15.591

 

 

 

 

Non-Current Assets

6.094

 

 

 

 

Current Liabilities

6.252

 

 

 

 

Long-Term Liabilities

0

 

 

 

 

Gross Profit (loss)

-6.252

23.805

 

 

 

Operating Profit (loss)

-12.375

1.696

 

 

 

Net Profit (loss)

-12.375

1.696

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

High As of 31.12.2010

Liquidity

High As of 31.12.2010

Profitability

Gross Loss  in 2010

Operating Loss  in 2010

Net Loss  in 2010

Low Operating Profitability  in 2011

Low Net Profitability  in 2011

 

Gap between average collection and payable periods

Favorable in 2010

General Financial Position

Good

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

CREDIT LIMIT

 

:

5.000 USD

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 5.000 USD may be granted to the subject company.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-29.02.2012)

0,29 %

1,8055

2,3806

2,8364

 

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

15.591

0,72

Not Detailed Current Assets

0

0,00

Cash and Banks

11.331

0,52

Marketable Securities

0

0,00

Account Receivable

0

0,00

Other Receivable

0

0,00

Inventories

0

0,00

Advances Given

0

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

4.260

0,20

NON-CURRENT ASSETS

6.094

0,28

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

0

0,00

Intangible Assets

0

0,00

Deferred Tax Assets

0

0,00

Other Non-Current Assets

6.094

0,28

TOTAL ASSETS

21.685

1,00

CURRENT LIABILITIES

6.252

0,29

Not Detailed Current Liabilities

0

0,00

Financial Loans

0

0,00

Accounts Payable

6.252

0,29

Loans from Shareholders

0

0,00

Other Short-term Payable

0

0,00

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

0

0,00

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

15.433

0,71

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

11.700

0,54

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

136.446

6,29

Equity of Consolidated Firms

0

0,00

Reserves

38.164

1,76

Revaluation Fund

0

0,00

Accumulated Losses(-)

-158.502

-7,31

Net Profit (loss)

-12.375

-0,57

TOTAL LIABILITIES AND EQUITY

21.685

1,00

 

 

INCOME STATEMENTS

 

 

(2010) TL

 

(2011) TL

 

Net Sales

698.786

1,00

2.899.405

1,00

Cost of Goods Sold

705.038

1,01

2.875.600

0,99

Gross Profit

-6.252

-0,01

23.805

0,01

Operating Expenses

6.123

0,01

22.109

0,01

Operating Profit

-12.375

-0,02

1.696

0,00

Other Income

0

0,00

0

0,00

Other Expenses

0

0,00

0

0,00

Financial Expenses

0

0,00

0

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

-12.375

-0,02

1.696

0,00

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

-12.375

-0,02

1.696

0,00

 

 

FINANCIAL RATIOS

 

 

(2010)

LIQUIDITY RATIOS

 

Current Ratio

2,49

Acid-Test Ratio

1,81

Cash Ratio

1,81

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,00

Short-term Receivable/Total Assets

0,00

Tangible Assets/Total Assets

0,00

TURNOVER RATIOS

 

Inventory Turnover

 

Stockholders' Equity Turnover

45,28

Asset Turnover

32,22

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,71

Current Liabilities/Total Assets

0,29

Financial Leverage

0,29

Gearing Percentage

0,41

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

-0,80

Operating Profit Margin

-0,02

Net Profit Margin

-0,02

Interest Cover

 

COLLECTION-PAYMENT

 

Average Collection Period (days)

0,00

Average Payable Period (days)

3,19

WORKING CAPITAL

9339,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.56

UK Pound

1

Rs.81.04

Euro

1

Rs.67.48

 

 

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.