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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
HISAR CELIK DOKUM SANAYI VE TICARET A.S. |
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Registered Office : |
Beylikbagi Mah. |
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Country : |
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Date of Incorporation : |
03.01.1973 |
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Com. Reg. No.: |
388 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing points and adapters, end bits and cutting edges, ripper points
and other ground engaging tools for the construction and heavy mining
machines. |
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No. of Employees : |
309 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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|
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
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NAME |
: |
HISAR CELIK DOKUM SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Beylikbagi Mah. Istanbul Cad. No:25 Gebze Kocaeli / Turkey |
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PHONE NUMBER |
: |
90-212-464 70 00(Liaison Office) 90-262-743 66 80(Head Office/Factory) |
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FAX NUMBER |
: |
90-216-464 70 20(Liaison Office) 90-262-743 34 71(Head Office/Factory) 90-262-744 18 64(Head Office/Factory) |
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WEB-ADDRESS |
: |
www.hisarcelik.com |
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E-MAIL |
: |
production@hisarcelik.com |
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TAX OFFICE |
: |
Ilyasbey |
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TAX NO |
: |
4630013751 |
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REGISTRATION NUMBER |
: |
388 |
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REGISTERED OFFICE |
: |
Gebze Chamber of Commerce |
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DATE ESTABLISHED |
: |
03.01.1973 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
13.01.1973/ |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 40.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
HAMAS HISAR AGIR MAKINA 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 |
: |
Steel casting. The main business line of the firm is as follows: Manufacturing points and adapters, end bits and cutting edges, ripper
points and other ground engaging tools for the construction and heavy mining machines. Manufacturing of cast steel idler wheels and sprockets, track shoes
and chain links. Manufacturing cast rolls for steel and nonferrous industries. The
subject manufactures mill rolls, cast steel and steel base rolls in the shape
of solid rolls, discs, rings and sleeves. Besides manufacture of machinery parts of construction and mining
industry and cast rolls for the steel industry, the subject also manufacture
cast steel parts for the following industries; -Marine industry -Cement industry -Crushers and grinding mills -Railroad industry |
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NACE CODE |
: |
DJ.27.52 |
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NUMBER OF EMPLOYEES |
: |
309 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The net sales figure in 2010 is declared by the company. There is no
certification for this figure. |
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IMPORT COUNTRIES |
: |
Germany Italy U.K. |
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MERCHANDISE IMPORTED |
: |
Raw materials Steel |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Free Zone U.S.A. Germany Italy Japan France U.K. Brazil Belgium Greece Canada Spain Sweden Switzerland Australia Austria |
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MERCHANDISE EXPORTED |
: |
Handles of wood Parts of construction machines Parts of rolling mill Rolls Tools |
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HEAD OFFICE ADDRESS |
: |
Beylikbagi Mah. Istanbul Cad. No:25 Gebze Kocaeli / Turkey ( owned ) |
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BRANCHES |
: |
Liaison Office : Bagdat Cad. Oncu Sokak No:B2/10 Suadiye
Istanbul/Turkey (owned by shareholder(s)) Head Office/Factory : Beylikbagi Mahallesi Istanbul Cad. No:25
Gebze Kocaeli/Turkey (owned) |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2011.
There appears an upwards trend in 1.1
- 30.9.2012. |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
: |
Garanti Bankasi Gebze Branch T. Is Bankasi Gebze Branch T. Vakiflar Bankasi Suadiye Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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THE DETAILS OF THE CAPITAL INCREASE
AFTER LAST BALANCE SHEET |
: |
Cash Part |
:4.700.000 TL |
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Equity Part |
:5.000.000 TL |
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Payment Due Date |
:30.04.2015 |
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Capitalization |
Satisfactory |
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Remarks on Capitalization |
There has been capital increase after the last balance sheet date. |
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Profitability |
Low Net Profitability in 2010 High Net Profitability in 2011 |
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General Financial Position |
Fair |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8029 |
2,3233 |
2,8527 |
|
( 01.01-30.11.2012) |
2,58 % |
1,8006 |
2,3240 |
2,8569 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
UK Pound |
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.