|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALBOSA PLASTIK URUNLERI VE BOYALARI SANAYI VE TICARET LTD. STI. |
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|
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Registered Office : |
Hastaneyolu Demirciler Carsisi Hurkent Sanayi Sitesi No: 6/23 Bayrampasa Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.05.1996 |
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Com. Reg. No.: |
346224 |
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|
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Manufacture and trade of concentrate paint. |
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|
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No. of Employees : |
19 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
670.000 USD |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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NAME |
: |
ALBOSA PLASTIK URUNLERI VE BOYALARI SANAYI VE TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Hastaneyolu Demirciler Carsisi Hurkent Sanayi Sitesi No: 6/23
Bayrampasa Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-567 01 68 90-212-576 05 25 |
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FAX NUMBER |
: |
90-212-612 02 21 |
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TAX OFFICE |
: |
Bayrampasa |
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TAX NO |
: |
0500058655 |
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REGISTRATION NUMBER |
: |
346224 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
06.05.1996 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
13.05.1996/4035 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 1.400.000 |
|
PAID-IN CAPITAL |
: |
TL 1.400.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
RAFINA GIDA ITHALAT IHRACAT SANAYI VE TICARET LTD. STI |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of concentrate paint. |
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NACE CODE |
: |
DG.24.12 |
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SECTOR |
: |
Chemicals |
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NUMBER OF EMPLOYEES |
: |
19 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
Israel Iran India |
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MERCHANDISE IMPORTED |
: |
Raw materials |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Saudi Arabia Romania Azerbaijan |
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MERCHANDISE EXPORTED |
: |
Organic solvents |
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HEAD OFFICE ADDRESS |
: |
Hastaneyolu Demirciler Carsisi Hurkent Sanayi Sitesi No: 6/23
Bayrampasa Istanbul / Turkey ( owned by shareholder(s) ) |
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BRANCHES |
: |
Head Office : Hastaneyolu Demirciler Carsisi Hurkent Sanayi
Sitesi No: 6/23 Bayrampasa Istanbul/Turkey (owned by shareholder(s)) Production Plant : Karaagac Koyu Hadimkoy Istanbul/Turkey
(owned) |
|
TREND OF
BUSINESS |
: |
There was an upwards
trend in 2010. There appears an upwards trend in 1.1 - 30.9.2011. |
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SIZE OF BUSINESS |
: |
Lower-Medium |
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MAIN DEALING BANKS |
: |
Akbank Topkapi Sarayi Branch Garanti Bankasi Bayrampasa Branch |
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CREDIT FACILITIES |
: |
The subject company is making use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
We are informed about some payment delays in the former years. |
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KEY FINANCIAL ELEMENTS |
: |
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Capitalization |
High As of
31.12.2010 |
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Liquidity |
High As of
31.12.2010 |
|
Remarks On
Liquidity |
The unfavorable
gap between average collection and average payable period has an adverse
effect on liquidity. |
|
Profitability |
High Operating
Profitability in 2010 High Net
Profitability in 2010 High Operating
Profitability (01.01-30.09.2011) High Net
Profitability (01.01-30.09.2011) |
|
Gap between
average collection and payable periods |
Unfavorable in
2010 |
|
General
Financial Position |
Good |
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CREDIT LIMIT |
: |
670.000 USD |
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CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of 670.000 USD may be
granted to the subject company. |
|
|
Incr. in producers price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 01.01-31.01.2012) |
0,38 % |
1,8353 |
2,3964 |
2,8635 |
|
|
( 31.12.2010 ) TL |
|
|
CURRENT ASSETS |
2.196.926 |
0,59 |
|
Not Detailed
Current Assets |
0 |
0,00 |
|
Cash and Banks |
1.134.489 |
0,30 |
|
Marketable
Securities |
0 |
0,00 |
|
Account Receivable |
640.109 |
0,17 |
|
Other Receivable |
0 |
0,00 |
|
Inventories |
322.130 |
0,09 |
|
Advances Given |
100.198 |
0,03 |
|
Accumulated
Construction Expense |
0 |
0,00 |
|
Other Current
Assets |
0 |
0,00 |
|
NON-CURRENT
ASSETS |
1.547.587 |
0,41 |
|
Not Detailed
Non-Current Assets |
0 |
0,00 |
|
Long-term
Receivable |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
|
Tangible Fixed
Assets (net) |
1.537.028 |
0,41 |
|
Intangible
Assets |
0 |
0,00 |
|
Deferred Tax
Assets |
0 |
0,00 |
|
Other
Non-Current Assets |
10.559 |
0,00 |
|
TOTAL ASSETS |
3.744.513 |
1,00 |
|
CURRENT
LIABILITIES |
661.192 |
0,18 |
|
Not Detailed
Current Liabilities |
0 |
0,00 |
|
Financial Loans |
143.827 |
0,04 |
|
Accounts Payable |
299.277 |
0,08 |
|
Loans from
Shareholders |
0 |
0,00 |
|
Other Short-term
Payable |
22.754 |
0,01 |
|
Advances from
Customers |
141.775 |
0,04 |
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Accumulated
Construction Income |
0 |
0,00 |
|
Taxes Payable |
41.861 |
0,01 |
|
Provisions |
0 |
0,00 |
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Other Current
Liabilities |
11.698 |
0,00 |
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LONG-TERM LIABILITIES |
564.488 |
0,15 |
|
Not Detailed
Long-term Liabilities |
0 |
0,00 |
|
Financial Loans |
564.488 |
0,15 |
|
Securities
Issued |
0 |
0,00 |
|
Long-term
Payable |
0 |
0,00 |
|
Loans from
Shareholders |
0 |
0,00 |
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Other Long-term
Liabilities |
0 |
0,00 |
|
Provisions |
0 |
0,00 |
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STOCKHOLDERS'
EQUITY |
2.518.833 |
0,67 |
|
Not Detailed
Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
1.400.000 |
0,37 |
|
Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation
Adjustment of Capital |
84.509 |
0,02 |
|
Equity of
Consolidated Firms |
0 |
0,00 |
|
Reserves |
730.133 |
0,19 |
|
Revaluation Fund |
66.683 |
0,02 |
|
Accumulated
Losses(-) |
0 |
0,00 |
|
Net Profit
(loss) |
237.508 |
0,06 |
|
TOTAL
LIABILITIES AND EQUITY |
3.744.513 |
1,00 |
|
|
(2010) TL |
|
(01.01-30.09.2011)
TL |
|
|
Net Sales |
3.505.508 |
1,00 |
3.643.322 |
1,00 |
|
Cost of Goods
Sold |
2.727.509 |
0,78 |
2.935.221 |
0,81 |
|
Gross Profit |
777.999 |
0,22 |
708.101 |
0,19 |
|
Operating
Expenses |
398.733 |
0,11 |
305.023 |
0,08 |
|
Operating Profit |
379.266 |
0,11 |
403.078 |
0,11 |
|
Other Income |
21.087 |
0,01 |
38.706 |
0,01 |
|
Other Expenses |
19.320 |
0,01 |
56.240 |
0,02 |
|
Financial
Expenses |
83.424 |
0,02 |
79.461 |
0,02 |
|
Minority
Interests |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of
consolidated firms |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss)
Before Tax |
297.609 |
0,08 |
306.083 |
0,08 |
|
Tax Payable |
60.101 |
0,02 |
0 |
0,00 |
|
Postponed Tax
Gain |
0 |
0,00 |
0 |
0,00 |
|
Net Profit
(loss) |
237.508 |
0,07 |
306.083 |
0,08 |
|
|
(2010) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
3,32 |
|
Acid-Test Ratio |
2,68 |
|
Cash Ratio |
1,72 |
|
ASSET STRUCTURE
RATIOS |
|
|
Inventory/Total
Assets |
0,09 |
|
Short-term
Receivable/Total Assets |
0,17 |
|
Tangible
Assets/Total Assets |
0,41 |
|
TURNOVER RATIOS |
|
|
Inventory
Turnover |
8,47 |
|
Stockholders'
Equity Turnover |
1,39 |
|
Asset Turnover |
0,94 |
|
FINANCIAL
STRUCTURE |
|
|
Stockholders'
Equity/Total Assets |
0,67 |
|
Current
Liabilities/Total Assets |
0,18 |
|
Financial
Leverage |
0,33 |
|
Gearing
Percentage |
0,49 |
|
PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,09 |
|
Operating Profit
Margin |
0,11 |
|
Net Profit
Margin |
0,07 |
|
Interest Cover |
4,57 |
|
COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
65,74 |
|
Average Payable
Period (days) |
39,50 |
|
WORKING CAPITAL |
1535734,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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 SCs 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.