MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

SIKA YAPI KIMYASALLARI A.S.

 

 

Registered Office :

Orhanli Mevkii Istanbul Deri Organize San. Bolgesi 2.Yol J-7 Parsel Tuzla Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

17.12.1990

 

 

Com. Reg. No.:

270963

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of construction chemicals, trade of industrial products for automotive sector. 

 

 

No. of Employees :

152

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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

:

SIKA YAPI KIMYASALLARI A.S.

HEAD OFFICE ADDRESS

:

Orhanli Mevkii Istanbul Deri Organize San. Bolgesi 2.Yol J-7 Parsel Tuzla Istanbul / Turkey

PHONE NUMBER

:

90-216-581 06 00

 

FAX NUMBER

:

90-216-581 06 99

 

 

 

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

:

7700014579

REGISTRATION NUMBER

:

270963

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

17.12.1990

ESTABLISHMENT GAZETTE DATE/NO

:

26.12.1990/2681

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   6.700.000

 

PAID-IN CAPITAL

:

TL   6.700.000

HISTORY

:

Previous Name

:

Sika-Deteks Yapi Kimyasallari A.S.

Changed On

:

22.01.2001 (Commercial Gazette Date /Number 26.01.2001/ 5223)

Previous Registered Capital

:

TL 2.160.000

Changed On

:

10.12.2001 (Commercial Gazette Date /Number 13.12.2001/ 5445)

Previous Address

:

Yayalar Koyu Camcesme Mah. Sanayi Cikmazi No:1 81510 Kaynarca Istanbul

Changed On

:

04.06.2007 (Commercial Gazette Date /Number 08.06.2007/ 6826)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Sika AG.

99 %

Sika Schweiz AG.

 

Sika Services AG.

 

Sika Supply Center AG.

 

Sika Technology AG.

 

 

 

REMARKS ON SHAREHOLDERS

:

The shareholders are foreign companies.

 

 

BOARD OF DIRECTORS

:

Iven Peter Chadwick

Chairman

Ronald Frank Trachsel

Vice-Chairman

Bora Yildirim

Member

Khushroo Patel

Member

 

 

DIRECTORS

:

Bora Yildirim

General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of construction chemicals, trade of industrial products for automotive sector. 

 

NACE CODE

:

DH.25.24

 

TRADEMARKS OWNED

:

Sika

 

NUMBER OF EMPLOYEES

:

152

 

 

NET SALES

:

20.921 TL Thousand

(2001) 

33.621 TL Thousand

(2002) 

45.361 TL Thousand

(2003) 

59.701 TL Thousand

(2004) 

68.450 TL Thousand

(2005) 

89.853 TL Thousand

(2006) 

107.428.473 TL

(2007) 

126.494.589 TL

(2008) 

119.631.724 TL

(2009) 

137.881.291 TL

(2010) 

128.693.000 TL

(01.01-30.09.2011) 

 

 

REMARKS ON NET SALES

:

The net sales figure of 01.01.-30.09.2011 is declared by the company. There is no certification for this figure.

 

IMPORT VALUE

:

30.000.000 TL

(2008)

 

 

IMPORT COUNTRIES

:

Germany

Switzerland

U.K.

France

Spain

 

MERCHANDISE IMPORTED

:

Industrial products

Raw materials

 

EXPORT VALUE

:

1.915.000 TL

(2001)

1.285.000 USD

(2002)

4.025.000 TL

(2003)

4.712.000 TL

(2004)

7.225.000 TL

(2005)

10.072.213 TL

(2006)

10.476.854 TL

(2007)

11.081.451 TL

(2008)

7.865.000 TL

(2009)

10.000.000 TL

(2010)

 

 

 

EXPORT COUNTRIES

:

Georgia

Kazakhstan

Azerbaijan

Northern Cyprus Turkish Republic

Russia

Israel

Bulgaria

Egypt

France

Greece

Kyrgyzstan

Switzerland

Syria

Turkmenistan

Uzbekistan

U.S.A.

 

MERCHANDISE  EXPORTED

:

Construction chemicals

 

HEAD OFFICE ADDRESS

:

Orhanli Mevkii Istanbul Deri Organize San. Bolgesi 2.Yol J-7 Parsel Tuzla Istanbul / Turkey ( owned )

 

BRANCHES

:

Liaison Office  :   Izmir/Turkey (rented)

Liaison Office  :   Ankara/Turkey (rented)

Liaison Office  :   Antalya/Turkey (rented)

Liaison Office  :   Adana/Turkey (rented)

Liaison Office  :   Bursa/Turkey (rented)

Head Office/Factory  :  Orhanli Mevkii Ist. Deri Organize San. Bolgesi 2.Yol J-7 Parsel Tuzla Istanbul/Turkey (owned)

 

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There was an upwards trend in  2010. There appears an upwards trend in  1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Garanti Bankasi Pendik Branch

HSBC Bank Pendik Branch

T. Is Bankasi Kartal Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

KEY FINANCIAL ELEMENTS

:

 

(2007) TL

(2008) TL

(2009) TL

(2010) TL

(01.01-30.09.2011) TL Thousand

Net Sales

107.428.473

126.494.589

119.631.724

137.881.291

128.693

Profit (Loss) Before Tax

13.713.824

6.796.908

 

 

 

Stockholders' Equity

35.321.619

39.405.521

50.024.097

57.837.919

69.473

Total Assets

69.335.241

81.707.909

75.575.751

84.368.313

99.929

Current Assets

43.180.113

59.725.797

 

 

81.201

Non-Current Assets

26.155.128

21.982.112

 

 

 

Current Liabilities

34.013.622

42.302.388

 

 

30.456

Long-Term Liabilities

0

0

 

 

 

Gross Profit (loss)

37.455.258

44.027.393

 

 

 

Operating Profit (loss)

13.704.646

15.004.028

 

 

 

Net Profit (loss)

10.845.858

6.796.908

 

 

16.769

 

 

REMARKS ON KEY FINANCIAL ELEMENTS

:

The key financial figures of 01.01.-30.09.2011 are declared by the company. There is no certification for these figures.

 

 

COMMENT ON FINANCIAL POSITION

 

 

Capitalization

High As of 30.09.2011

Liquidity

Good As of 30.09.2011

Remarks On Liquidity

Current ratio is 2,67

Profitability

High Operating Profitability  in 2007

High Net Profitability  in 2007

High Operating Profitability  in 2008

Good Net Profitability  in 2008

High Net Profitability (01.01-30.09.2011)

 

General Financial Position

Satisfactory

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.06.2012)

1,95 %

1,8028

2,3463

2,8462

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.77

UK Pound

1

Rs.86.74

Euro

1

Rs.68.31

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.