MIRA INFORM REPORT

 

 

Report Date :           

09.02.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

EMIREL DERI TICARET-OMER KILINC

 

 

Registered Office :

Kemalpasa Caddesi No: 27 Daire: 8 Isikkent Bornova Izmir

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.10.2004

 

 

Com. Reg. No.:

115780-Merkez

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Wholesale trade of leather chemicals and raw hide

 

 

No. of Employees :

01

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

139.000 USD

 

 

Status :

Small Concern

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Turkey

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

REMARKS

:

"Emirel Deri ve Kimyasallari" is the trade name of "EMIREL DERI TICARET-OMER KILINC"

 

NOTES

:

Full name of the firm was missing at your inquiry.

 

Address at your inquiry is not the registered head office but another premise.

 

 

COMPANY IDENTIFICATION

 

NAME

:

EMIREL DERI TICARET-OMER KILINC

HEAD OFFICE ADDRESS

:

Kemalpasa Caddesi No: 27 Daire: 8 Isikkent Bornova Izmir / Turkey

PHONE NUMBER

:

90-232-472 27 71

 

FAX NUMBER

:

90-232-472 27 70

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

 

 

:

Liability of the subject is not limited to the capital.

TAX OFFICE

:

Bornova

TAX NO

:

10159357900

REGISTRATION NUMBER

:

115780-Merkez

REGISTERED OFFICE

:

Izmir Chamber of Commerce

DATE ESTABLISHED

:

05.10.2004

ESTABLISHMENT GAZETTE DATE/NO

:

21.10.2004/6162

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Omer Kilinc

100 %

 

 

REMARKS ON SHAREHOLDERS

 

:

Omer Kilinc was born on 01.12.1970 and graduated from high school.

PROPERTIES OWNED BY THE OWNER/PARTNERS

:

Property Type

Flat

Two Cars

SISTER COMPANIES

:

Declared to be: None

 

DIRECTORS

:

Omer Kilinc

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Wholesale trade of leather chemicals and raw hide .

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

1

 

NET SALES

:

1.358.350 TL

(2010) 

1.257.765 TL

(01.01-30.09.2011) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Iran

U.A.E.

Afghanistan

 

MERCHANDISE IMPORTED

:

Leather chemicals

Raw hide

 

 

HEAD OFFICE ADDRESS

:

Kemalpasa Caddesi No: 27 Daire: 8 Isikkent Bornova Izmir / Turkey ( rented )

 

BRANCHES

:

Branch Office  :  Menemen Deri Serbest Bolgesi Akasya Sokak No: 1 Menemen Izmir/Turkey

 

INVESTMENTS

:

None

 

 

TREND OF BUSINESS

:

There appears an upwards trend in 1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Upper-Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

T. Finans Katilim Bankasi Bornova Branch

 

CREDIT FACILITIES

:

No credit facility has come to our knowledge.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(01.01-30.09.2011) TL

 

 

 

Net Sales

1.358.350

1.257.765

 

 

 

Profit (Loss) Before Tax

16.275

34.442

 

 

 

Stockholders' Equity

443.231

 

 

 

 

Total Assets

2.617.391

 

 

 

 

Current Assets

2.507.552

 

 

 

 

Non-Current Assets

109.839

 

 

 

 

Current Liabilities

936.327

 

 

 

 

Long-Term Liabilities

1.237.833

 

 

 

 

Gross Profit (loss)

72.804

88.670

 

 

 

Operating Profit (loss)

16.493

34.894

 

 

 

Net Profit (loss)

16.275

34.442

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Good As of 31.12.2010

Remarks on Capitalization

The liability of the sole-proprietorships is not limited to the capital. The owners of the sole-proprietorships are responsible for the debts of the sole-proprietorships with all of their personal wealth.

 

The owner possesses property.

 

Liquidity

Satisfactory As of 31.12.2010

Remarks On Liquidity

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity. 

 

The liquid assets consist mainly of receivables the amount of cash&banks or marketable securities (which are more liquid) are low.

 

Profitability

Low Operating Profitability  in 2010

Low Net Profitability  in 2010

Fair Operating Profitability (01.01-30.09.2011)

Fair Net Profitability (01.01-30.09.2011)

 

Gap between average collection and payable periods

Unfavorable in 2010

General Financial Position

In Order

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 139.000 USD may be granted to the subject company.

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-31.01.2012)

0,38 %

1,8353

2,3964

2,8635

 

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

2.507.552

0,96

Not Detailed Current Assets

0

0,00

Cash and Banks

70.823

0,03

Marketable Securities

0

0,00

Account Receivable

2.235.971

0,85

Other Receivable

0

0,00

Inventories

177.799

0,07

Advances Given

1.000

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

21.959

0,01

NON-CURRENT ASSETS

109.839

0,04

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

109.839

0,04

Intangible Assets

0

0,00

Deferred Tax Assets

0

0,00

Other Non-Current Assets

0

0,00

TOTAL ASSETS

2.617.391

1,00

CURRENT LIABILITIES

936.327

0,36

Not Detailed Current Liabilities

0

0,00

Financial Loans

0

0,00

Accounts Payable

905.200

0,35

Loans from Shareholders

0

0,00

Other Short-term Payable

0

0,00

Advances from Customers

33.342

0,01

Accumulated Construction Income

0

0,00

Taxes Payable

1.387

0,00

Provisions

-3.602

0,00

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

1.237.833

0,47

Not Detailed Long-term Liabilities

0

0,00

Financial Loans

0

0,00

Securities Issued

0

0,00

Long-term Payable

0

0,00

Loans from Shareholders

1.237.833

0,47

Other Long-term Liabilities

0

0,00

Provisions

0

0,00

STOCKHOLDERS' EQUITY

443.231

0,17

Not Detailed Stockholders' Equity

443.231

0,17

Paid-in Capital

0

0,00

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

0

0,00

Equity of Consolidated Firms

0

0,00

Reserves

0

0,00

Revaluation Fund

0

0,00

Accumulated Losses(-)

0

0,00

Net Profit (loss)

0

0,00

TOTAL LIABILITIES AND EQUITY

2.617.391

1,00

 

 

INCOME STATEMENTS

 

 

(2010) TL

 

(01.01-30.09.2011) TL

 

Net Sales

1.358.350

1,00

1.257.765

1,00

Cost of Goods Sold

1.285.546

0,95

1.169.095

0,93

Gross Profit

72.804

0,05

88.670

0,07

Operating Expenses

56.311

0,04

53.776

0,04

Operating Profit

16.493

0,01

34.894

0,03

Other Income

0

0,00

0

0,00

Other Expenses

218

0,00

314

0,00

Financial Expenses

0

0,00

138

0,00

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

16.275

0,01

34.442

0,03

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

16.275

0,01

34.442

0,03

 

FINANCIAL RATIOS

 

 

(2010)

LIQUIDITY RATIOS

 

Current Ratio

2,68

Acid-Test Ratio

2,46

Cash Ratio

0,08

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,07

Short-term Receivable/Total Assets

0,85

Tangible Assets/Total Assets

0,04

TURNOVER RATIOS

 

Inventory Turnover

7,23

Stockholders' Equity Turnover

3,06

Asset Turnover

0,52

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,17

Current Liabilities/Total Assets

0,36

Financial Leverage

0,83

Gearing Percentage

4,91

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,04

Operating Profit Margin

0,01

Net Profit Margin

0,01

Interest Cover

 

COLLECTION-PAYMENT

 

Average Collection Period (days)

592,59

Average Payable Period (days)

253,49

WORKING CAPITAL

1571225,00

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.78.09

Euro

1

Rs.65.15

 

 

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.