MIRA INFORM REPORT

Report Date :

03.04.2012

IDENTIFICATION DETAILS

Correct Name :	KORAT TEKSTIL SANAYI VE PAZARLAMA A.S.

Registered Office :	Keresteciler Sitesi Fatih Caddesi Ardic Sokak No:16/1-A Merter Istanbul

Country :	Turkey

Date of Incorporation :	28.09.1995

Com. Reg. No.:	335481

Legal Form :	Joint Stock Company

Line of Business :	Manufacture and trade of woven fabrics

No. of Employees :	130

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 – September 30^th, 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	:	KORAT TEKSTIL SANAYI VE PAZARLAMA A.S.
HEAD OFFICE ADDRESS	:	Keresteciler Sitesi Fatih Caddesi Ardic Sokak No:16/1-A Merter Istanbul / Turkey
PHONE NUMBER	:	90-212-637 44 50
FAX NUMBER	:	90-212-637 11 47
WEB-ADDRESS	:	www.korattekstil.com.tr

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		:		Merter
TAX NO		:		5770071766
REGISTRATION NUMBER		:		335481
REGISTERED OFFICE		:		Istanbul Chamber of Commerce
DATE ESTABLISHED		:		28.09.1995
ESTABLISHMENT GAZETTE DATE/NO		:		05.10.1995/3886
LEGAL FORM		:		Joint Stock Company
TYPE OF COMPANY		:		Private
REGISTERED CAPITAL	:		TL 2.250.000
PAID-IN CAPITAL	:		TL 2.250.000

OWNERSHIP / MANAGEMENT

SHAREHOLDERS

Mahmut Irfan Ozer	84 %
Mustafa Ilhan Ozer
Memet Kenan Ozer
Others

SISTER COMPANIES

TEKSAN TEKSTIL SANAYI TICARET VE PAZARLAMA A.S.

SUBSIDIARIES

TEKSAN TEKSTIL SANAYI TICARET VE PAZARLAMA A.S.

BOARD OF DIRECTORS

Mustafa Ilhan Ozer	Chairman
Memet Kenan Ozer	Vice-Chairman
Mahmut Irfan Ozer	Member

OPERATIONS

BUSINESS ACTIVITIES	:	Manufacture and trade of woven fabrics. The subject also orders fabric to be manufactured in the name of the subject company to contract manufacturers.
NACE CODE	:	DB.17.20
SECTOR	:	Textile
NUMBER OF EMPLOYEES	:	130
REMARKS ON NET SALES	:	The sales figure of 2011 is declared as TL 18.357.324. There is no certification for this figure.
IMPORT COUNTRIES	:	Free Zone Switzerland Italy
MERCHANDISE IMPORTED	:	Dye Machinery

EXPORT VALUE

719.763 TL	(2011)

EXPORT COUNTRIES

U.K.

Tunisia

Ukraine

Italy

Germany

Bulgaria

Morocco

China

France

Portugal

MERCHANDISE EXPORTED

Fabric

HEAD OFFICE ADDRESS

Keresteciler Sitesi Fatih Caddesi Ardic Sokak No:16/1-A Merter Istanbul / Turkey

BRANCHES

Factory : Velikoy Organize Sanayi Bolgesi Tekirdag/Turkey (owned)

INVESTMENTS

Machinery investments are going on.

FINANCE

MAIN DEALING BANKS

Garanti Bankasi Merter Branch

ING Bank Topkapi Branch

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.

Incr. in producers’ price index

Average USD/TL

Average EUR/TL

Average GBP/ TL

( 2011 )

13,33 %

1,6797

2,3378

2,6863

( 01.01-29.02.2012)

0,29 %

1,8055

2,3806

2,8364

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.16
UK Pound	1	Rs.81.79
Euro	1	Rs.68.34

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