MIRA INFORM REPORT

 

 

Report Date :           

23.04.2012

 

IDENTIFICATION DETAILS

 

Name :

EGE KIMYA SANAYI VE TICARET A.S.

 

 

Registered Office :

Cendere Yolu. No:16-18 34416 Kagithane  Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

15.09.1955

 

 

Com. Reg. No.:

57773

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of industrial chemicals

 

 

No. of Employees :

248

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – 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

:

EGE KIMYA SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Cendere Yolu. No:16-18 34416 Kagithane  Istanbul / Turkey

PHONE NUMBER

:

90-212-294 65 67

90-212-294 65 70

 

FAX NUMBER

:

90-212-294 50 73

 

 

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

:

Buyuk Mukellefler

TAX NO

:

3250051875

REGISTRATION NUMBER

:

57773

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

15.09.1955

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   30.200.000

PAID-IN CAPITAL

:

TL   30.200.000

HISTORY

:

Previous Registered Capital

:

TL 10.350.000

Changed On

:

19.04.2005 (Commercial Gazette Date /Number 22.04.2005/ 6288)

Previous Registered Capital

:

TL 27.200.000

Changed On

:

19.03.2009 (Commercial Gazette Date /Number 24.03.2009/ 7276)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Ege Holding A.S.

76,66 %

Metin Necmettin Mansur

 

Cem Mansur

 

Serra Mansur Soysal

 

Erdogan Beri

 

Danyal Navaro

 

Yosef Aryas

 

Yusuf Sayah

 

Dalia Maya

 

Ali Mansur

 

Ester Sayah

 

 

 

GROUP PARENT COMPANY

:

EGE HOLDING A.S.

 

SISTER COMPANIES

:

BAKLALI INSAAT VE GAYRIMENKUL TICARET A.S.

EGE HOLDING A.S.

EGE TARIM YAPI TURIZM VE TICARET A.S.

EGESIL KIMYA SANAYI VE TICARET A.S.

GOKTURK YAPI VE TURIZM A.S.

POLIFEN KIMYA SANAYII VE TICARET A.S.

ZEYTINLIK INSAAT VE GAYRIMENKUL TICARET A.S.

 

SUBSIDIARIES

:

ESCOL PRODUCTS LTD. (UK)

POLIFEN KIMYA SANAYII VE TICARET A.S.  ( 87,16 % )

 

BOARD OF DIRECTORS

:

Ali Mansur

Chairman

Danyal Navaro

Vice-Chairman

Metin Necmettin Mansur

Member

Yosef Aryas

Member

Erdogan Beri

Member

 

 

DIRECTORS

:

Metin Necmettin Mansur

General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of industrial chemicals.

 

NACE CODE

:

DG.24.13

 

SECTOR

:

Chemicals

 

REPRESENTATIVE OF

:

Ferro Co.   (U.S.A.)

 

NUMBER OF EMPLOYEES

:

248

 

NET SALES

:

660 TL Thousand

(1995) 

1.164 TL Thousand

(1996) 

2.530 TL Thousand

(1997) 

4.042 TL Thousand

(1998) 

5.487 TL Thousand

(1999) 

8.070 TL Thousand

(2000) 

19.668 TL Thousand

(2001) 

27.816 TL Thousand

(2002) 

45.032 TL Thousand

(2003) 

102.459 TL Thousand

(2004) 

115.772 TL Thousand

(2005) 

159.429 TL Thousand

(2006) 

139.850 TL Thousand

(2007) 

138.995.594 TL

(2008) 

96.730.654 TL

(2009) 

101.293.561 TL

(2010) 

 

 

IMPORT VALUE

:

24.728.740 USD

(2009)

 

 

IMPORT COUNTRIES

:

China

Germany

Belgium

Switzerland

Greece

Spain

Hong-Kong

U.K.

 

MERCHANDISE IMPORTED

:

Raw materials

 

 

EXPORT VALUE

:

463.568 USD

(1994)

1.481.464 USD

(1995)

1.803.504 USD

(1996)

2.426.381 USD

(1997)

1.959.735 USD

(1998)

1.910.800 USD

(1999)

1.406.806 TL

(2000)

4.491.421 USD

(2001)

8.313.949 TL

(2002)

10.392.154 TL

(2003)

41.484.064 TL

(2004)

44.118.341 TL

(2005)

50.260.048 TL

(2006)

38.725.234 TL

(2007)

44.777.000 USD

(2008)

20.477.270 USD

(2009)

19.701.000 USD

(2010)

 

 

EXPORT COUNTRIES

:

Kazakhstan

Egypt

Germany

Iran

Lebanon

Israel

Italy

Bangladesh

U.A.E.

Tunisia

France

U.K.

Greece

Jordan

Spain

 

MERCHANDISE  EXPORTED

:

Chemicals

Clays

 

HEAD OFFICE ADDRESS

:

Cendere Yolu. No:16-18 34416 Kagithane  Istanbul / Turkey ( owned )

 

BRANCHES

:

Head Office/Factory  :  Cendere Yolu. No:16-18 Kagithane Istanbul/Turkey (owned) (105.166 sqm)

 

INVESTMENTS

:

None

 

 

TREND OF BUSINESS

:

There was a slowdown at business volume in real terms in  2010.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Galata Branch

T. Is Bankasi Maslak Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

 

 

 

Net Sales

96.730.654

101.293.561

 

 

 

Profit (Loss) Before Tax

7.733.585

 

 

 

 

Stockholders' Equity

43.350.257

 

 

 

 

Total Assets

113.174.506

 

 

 

 

Current Assets

52.397.899

 

 

 

 

Non-Current Assets

60.776.607

 

 

 

 

Current Liabilities

65.026.865

 

 

 

 

Long-Term Liabilities

4.797.384

 

 

 

 

Gross Profit (loss)

 

 

 

 

 

Operating Profit (loss)

 

 

 

 

 

Net Profit (loss)

 

7.332.045

 

 

 

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

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

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Satisfactory As of 31.12.2009

Liquidity

Insufficient As of 31.12.2009

Remarks On Liquidity

Current ratio is 0,81

Profitability

High Net Profitability  in 2009

High Net Profitability  in 2010

 

General Financial Position

Unsatisfactory

Remarks on General Financial Position

Recent financial figures are not available the firm declines to provide fresh financial data.

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 1998 )

54,30 %

0,2657

0,2967

0,4410

 ( 1999 )

62,90 %

0,4278

0,4518

0,6843

 ( 2000 )

32,70 %

0,6251

0,5774

0,9480

 ( 2001 )

88,60 %

1,1991

1,0714

1,7300

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 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.51.99

UK Pound

1

Rs.83.54

Euro

1

Rs.63.40

 

 

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.