MIRA INFORM REPORT

 

 

Report Date :

22.08.2012

 

IDENTIFICATION DETAILS

 

Name :

KPC BOYA KIMYA SANAYI VE DIS TICARET LTD. STI.

 

 

Registered Office :

Cobancesme Mah. Gunesli Sok. No:9 D:3 Yenibosna Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

14.01.2010

 

 

Com. Reg. No.:

721596

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale trade of automotive and industrial paint. 

 

 

No. of Employees :

6

 

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

 

 

NOTES

:

Full name of the firm was missing at your inquiry.

 

Address is different from the address at your inquiry.

 

COMPANY IDENTIFICATION

 

NAME

:

KPC BOYA KIMYA SANAYI VE DIS TICARET LTD. STI.

HEAD OFFICE ADDRESS

:

Cobancesme Mah. Gunesli Sok. No:9 D:3 Yenibosna Istanbul / Turkey

PHONE NUMBER

:

90-212-552 49 00

 

FAX NUMBER

:

90-212-552 49 01

 

WEB-ADDRESS

:

www.kpcboya.com.tr

E-MAIL

:

info@kpcboya.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Yenibosna

TAX NO

:

5890446782

REGISTRATION NUMBER

:

721596

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

14.01.2010

ESTABLISHMENT GAZETTE DATE/NO

:

20.01.2010/7483

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   300.000

PAID-IN CAPITAL

:

TL   300.000

HISTORY

:

Previous Address

:

Olgunlar Sok. No: 19/26 Bakirkoy Istanbul

Changed On

:

01.08.2011 (Commercial Gazette Date /Number 05.08.2011/ 7874)

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Kemal Kivilcim

40 %

Cuneyt Ergen

40 %

Aliye Yavas

20 %

 

 

SISTER COMPANIES

:

ART AMBALAJ PLASTIK SANAYI VE TICARET A.S.

 

BULENT KLISECILIK GRAFIK SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

None

 

DIRECTORS

:

Kemal Kivilcim

 

 

 

OPERATIONS

 

NOTES ON OPERATIONS

:

The firm orders production to contract manufacturers.

 

 

BUSINESS ACTIVITIES

:

Wholesale trade of automotive and industrial paint. 

 

The subject orders paint to be manufactured in the name of the subject company to contract manufacturers.

 

NACE CODE

:

G .51.53

 

SECTOR

:

Commerce

 

DISTRIBUTOR OF

:

National Paints   (Jordan)

 

NUMBER OF EMPLOYEES

:

6

 

NET SALES

:

250.030 TL

(14.01-31.12.2010) 

426.352 TL

(2011) 

631.857 TL

(01.01-30.06.2012) 

 

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Jordan

 

MERCHANDISE IMPORTED

:

Paint

 

EXPORT VALUE

:

0 TL

(14.01-31.12.2010)

0 TL

(2011)

349.453 TL

(01.01-30.06.2012)

 

 

EXPORT COUNTRIES

:

Bulgaria

Bosnia and Herzegovina

Northern Cyprus Turkish Republic

Latvia

Kazakhstan

 

MERCHANDISE  EXPORTED

:

Paint

 

HEAD OFFICE ADDRESS

:

Cobancesme Mah. Gunesli Sok. No:9 D:3 Yenibosna Istanbul / Turkey (rented )

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011. There appears an upwards trend in  1.1 - 30.6.2012.

SIZE OF BUSINESS

:

Lower-Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

Garanti Bankasi Sirinevler Branch

Kuveyt Turk Katilim Bankasi Atrium Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2011) TL

(01.01-30.06.2012) TL

Net Sales

426.352

631.857

Profit (Loss) Before Tax

17.158

48.999

Stockholders' Equity

319.955

 

Total Assets

938.153

 

Current Assets

862.053

 

Non-Current Assets

76.100

 

Current Liabilities

576.580

 

Long-Term Liabilities

41.618

 

Gross Profit (loss)

73.759

175.531

Operating Profit (loss)

17.158

103.465

Net Profit (loss)

13.726

48.999

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Fair As of 31.12.2011

Liquidity

High As of 31.12.2011

Remarks On Liquidity

The favorable gap between average collection and average payable period has a positive effect on liquidity.

Profitability

In Order Operating Profitability  in 2011

In Order Net Profitability  in 2011

High Operating Profitability (01.01-30.06.2012)

High Net Profitability (01.01-30.06.2012)

 

Gap between average collection and payable periods

Favorable in 2011

General Financial Position

Satisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.06.2012)

1,95 %

1,8028

2,3463

2,8462

 ( 01.01-31.07.2012)

1,71 %

1,8018

2,3285

2,8424

 

BALANCE SHEETS

 

 

 ( 31.12.2011 )  TL

 

CURRENT ASSETS

862.053

0,92

Not Detailed Current Assets

0

0,00

Cash and Banks

291.651

0,31

Marketable Securities

0

0,00

Account Receivable

521.647

0,56

Other Receivable

0

0,00

Inventories

39.373

0,04

Advances Given

0

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

9.382

0,01

NON-CURRENT ASSETS

76.100

0,08

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

69.903

0,07

Intangible Assets

0

0,00

Deferred Tax Assets

0

0,00

Other Non-Current Assets

6.197

0,01

TOTAL ASSETS

938.153

1,00

CURRENT LIABILITIES

576.580

0,61

Not Detailed Current Liabilities

0

0,00

Financial Loans

17.678

0,02

Accounts Payable

528.077

0,56

Loans from Shareholders

25.221

0,03

Other Short-term Payable

0

0,00

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

615

0,00

Provisions

4.989

0,01

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

41.618

0,04

Not Detailed Long-term Liabilities

0

0,00

Financial Loans

41.618

0,04

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

319.955

0,34

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

300.000

0,32

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

0

0,00

Equity of Consolidated Firms

0

0,00

Reserves

6.229

0,01

Revaluation Fund

0

0,00

Accumulated Losses(-)

0

0,00

Net Profit (loss)

13.726

0,01

TOTAL LIABILITIES AND EQUITY

938.153

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the financial statements according to TAS, "Cheques Received" and "Outstanding Cheques" figures are under "Cash And Banks" figure.  Beginning from the financial statements of 31.12.2011, "Cheques Received" and "Outstanding Cheques" figures are given under "Account Receivable" figure and "Account Payable" figure respectively.

 

INCOME STATEMENTS

 

 

(2011) TL

 

(01.01-30.06.2012) TL

 

Net Sales

426.352

1,00

631.857

1,00

Cost of Goods Sold

352.593

0,83

456.326

0,72

Gross Profit

73.759

0,17

175.531

0,28

Operating Expenses

56.601

0,13

72.066

0,11

Operating Profit

17.158

0,04

103.465

0,16

Other Income

0

0,00

133

0,00

Other Expenses

0

0,00

1.633

0,00

Financial Expenses

0

0,00

52.966

0,08

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

17.158

0,04

48.999

0,08

Tax Payable

3.432

0,01

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

13.726

0,03

48.999

0,08

 

FINANCIAL RATIOS

 

 

(2011)

LIQUIDITY RATIOS

 

Current Ratio

1,50

Acid-Test Ratio

1,41

Cash Ratio

0,51

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,04

Short-term Receivable/Total Assets

0,56

Tangible Assets/Total Assets

0,07

TURNOVER RATIOS

 

Inventory Turnover

8,96

Stockholders' Equity Turnover

1,33

Asset Turnover

0,45

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,34

Current Liabilities/Total Assets

0,61

Financial Leverage

0,66

Gearing Percentage

1,93

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,04

Operating Profit Margin

0,04

Net Profit Margin

0,03

Interest Cover

 

COLLECTION-PAYMENT

 

Average Collection Period (days)

440,46

Average Payable Period (days)

539,17

WORKING CAPITAL

285473,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.