MIRA INFORM REPORT

 

 

Report Date :

16.04.2012

 

IDENTIFICATION DETAILS

 

Name :

PHARMACTIVE ILAC SANAYI VE TICARET A.S.

 

 

Registered Office :

Mahmut Bey Mah. Dilmenler Cad. No:19/3 Bagcilar Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

03.12.2010

 

 

Com. Reg. No.:

755698

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of pharmaceutical products

 

 

No. of Employees :

Not Available

 

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 :

Unknown

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

:

PHARMACTIVE ILAC SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Mahmut Bey Mah. Dilmenler Cad. No:19/3 Bagcilar Istanbul / Turkey

PHONE NUMBER

:

90-212-444 72 92

 

FAX NUMBER

:

90-212-445 11 85

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Gunesli

TAX NO

:

7290513538

REGISTRATION NUMBER

:

755698

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

03.12.2010

ESTABLISHMENT GAZETTE DATE/NO

:

09.12.2010/7704

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   50.000.000

 

HISTORY

:

Previous Registered Capital

:

TL 1.000.000

Changed On

:

05.07.2011 (Commercial Gazette Date /Number 09.08.2011/ 7876)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Saya Grup Ic Dis Ticaret A.S.

93 %

Seyfettin Sancak

 

Metin Sancak

 

Abdulrezzak Sancak

 

Mesut Sancak

 

Abdulhaluk Sancak

 

Sadi Sancak

 

 

 

GROUP

:

SAYA GROUP OF COMPANIES

 

SISTER COMPANIES

:

FOLKART YAPI SANAYI TICARET A.S.

LIVA IC VE DIS TICARET A.S.

LIVA ILAC PAZARLAMA SANAYI VE TICARET A.S.

LIVA MADENCILIK VE ELEKTRIK SANAYI TICARET A.S.

SAYA GRUP IC DIS TICARET VE SANAYI A.S.

 

SUBSIDIARIES

:

Declared to be:None

 

BOARD OF DIRECTORS

:

Abdulrezzak Sancak

Chairman

Abdulhaluk Sancak

Vice-Chairman

Mesut Sancak

Member

Sadi Sancak

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

The subject which was established on 03.12.2010 to deal with manufacture and trade of pharmaceutical products has declared that, it has not started active operation yet.

 

The firm has also declared that, It is investing in a factory in “Cerkezkoy-Tekirdag”  and trial investment is expected to be completed in May 2012. It is planning to start manufacture of pharmaceutical after the investment will be completed.

 

 

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

:

Germany

 

MERCHANDISE IMPORTED

:

Raw material

 

HEAD OFFICE ADDRESS

:

Mahmut Bey Mah. Dilmenler Cad. No:19/3 Bagcilar Istanbul / Turkey

 

BRANCHES

:

Factory  :  Cerkezkoy Istanbul/Turkey

INVESTMENTS

:

It is investing in a factory in “Cerkezkoy-Tekirdag”  and the investment is expected to be completed in 2012. It is planning to start trial production in May 2012.

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Ege Kurumsal Branch

T. Halk Bankasi Izmir Kurumsal 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

 ( 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

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-31.03.2012)

0,65 %

1,7995

2,3799

2,8402

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.