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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SANDOZ ILAC SANAYI VE TICARET A.S. |
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Formerly Known As : |
Ilsan Ilac Sanayi ve Ticaret A.S. |
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Registered Office : |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
22.08.1964 |
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Com. Reg. No.: |
87638 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of medicine |
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No. of Employees : |
969 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Turkey - ECONOMIC OVERVIEW
Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8.2% in 2010, as exports returned to normal levels following the recession. Turkey's public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkey's attractiveness to foreign investors. However, Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.
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Source : CIA |
NOTES |
: |
Address at your inquiry is not the registered head office but another
premise. |
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NAME |
: |
SANDOZ ILAC SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul /
Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
The district name was changed from "Kadikoy" to
"Atasehir" by the municipality. |
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PHONE NUMBER |
: |
90-216-458 33 00 90-216-570 95 01 90-262-751 31 01 |
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FAX NUMBER |
: |
90-262-751 30 36 |
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WEB-ADDRESS |
: |
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NOTES ON LEGAL STATUS AND
HISTORY |
: |
The paid-in capital is
declared by the subject. There is no certification for the paid-in capital. |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
4730035262 |
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REGISTRATION NUMBER |
: |
87638 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
22.08.1964 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 120.000.000,19 |
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PAID-IN CAPITAL |
: |
TL 120.000.000,19 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
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The firm has 80 shareholders.
We are informed that, the main shareholder "Novartis Pharma
A.G." is a foreign company located in Switzerland. |
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SISTER COMPANIES |
: |
ILTAS ILAC SANAYI VE TICARET A.S. SANDOZ SYNTEK ILAC HAMMADDELERI SANAYI VE TICARET A.S. |
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SUBSIDIARIES |
: |
Declared to be: None |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine. |
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NACE CODE |
: |
DG.24.40 |
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SECTOR |
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Chemicals |
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NUMBER OF EMPLOYEES |
: |
969 |
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REMARKS ON NET SALES |
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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. |
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IMPORT COUNTRIES |
: |
European Countries China |
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MERCHANDISE IMPORTED |
: |
Medicine Raw materials for medicine |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
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Australia Austria Belgium Brazil Canada Czech Republic Denmark Germany India Indonesia Italy Japan Lithuania Netherlands Portugal Spain Switzerland Egypt |
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MERCHANDISE EXPORTED |
: |
Medicine |
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HEAD OFFICE ADDRESS |
: |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul /
Turkey |
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BRANCHES |
: |
Factory : Gebze Plastikciler Organize Sanayi Bolgesi Ataturk
Bulvari 9. Cad. No: 1 Gebze Kocaeli/Turkey (owned) |
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MAIN DEALING BANKS |
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Turk Ekonomi Bankasi Kadikoy Branch Yapi Kredi Bankasi Harbiye Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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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. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2001 ) |
88,60 % |
1,1991 |
1,0714 |
1,7300 |
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( 2002 ) |
30,80 % |
1,5168 |
1,3741 |
2,2001 |
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( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
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( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
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( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
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( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
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( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
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( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
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( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 01.01-30.11.2012) |
2,58 % |
1,8006 |
2,3240 |
2,8569 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.07 |
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UK Pound |
1 |
Rs.89.54 |
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Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.