MIRA INFORM REPORT

 

 

Report Date :           

03.01.2012

 

IDENTIFICATION DETAILS

 

Name :

GUNEY CELIK HASIR VE DEMIR MAMULLERI SANAYII TICARET A.S.

 

 

Registered Office :

Cumhuriyet Mah. Piri Reis Cad. No:3 Maltepe Istanbul

 

 

Country :

Turkey

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

447049

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of wire and wire products to be used at construction sector.

 

 

No. of Employees :

313

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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

 

 

NOTES

:

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

 

 

COMPANY IDENTIFICATION

 

NAME

:

GUNEY CELIK HASIR VE DEMIR MAMULLERI SANAYII TICARET A.S.

HEAD OFFICE ADDRESS

:

Cumhuriyet Mah. Piri Reis Cad. No:3 Maltepe Istanbul / Turkey

PHONE NUMBER

:

90-216-305 50 48 (Head Office)

90-322-394 50 30 (10 lines) (Factory)

 

FAX NUMBER

:

90-322-394 50 70 (Factory)

 

WEB-ADDRESS

:

www.guneycelik.com.tr

E-MAIL

:

guneycelik@guneycelik.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Anadolu Kurumlar

TAX NO

:

4350039776

REGISTRATION NUMBER

:

447049

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

1992

ESTABLISHMENT GAZETTE DATE/NO

:

29.04.1992/3018

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   16.000.000

HISTORY

:

Previous Registered Capital

:

TL 4.000.000

Changed On

:

11.05.2010 (Commercial Gazette Date /Number 17.05.2010/ 7565)

Previous Registered Capital

:

TL 4.100.000

Changed On

:

29.12.2010 (Commercial Gazette Date /Number 04.01.2011/ 7722)

Previous Registered Capital

:

TL 10.000.000

Changed On

:

27.12.2011 (Commercial Gazette Date /Number 02.01.2012/ 7974)

Other Changes

:

The subject was firstly established in Bursa and registered at Bursa Commercial Registry with registration number 24980. Then the firm moved to Istanbul and registered at Istanbul Commercial Registry with registration number 447049.

Changed On

:

26.10.2000 (Commercial Gazette Date /Number 16.11.2000/ 5176)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Yelda Cengiz

25,46 %

Can Cengiz

25,46 %

Meltem Cengiz

25,46 %

Mehmet Irfan Cengiz

21,74 %

Nursel Karakas

 

Arsan Gayrimenkul Yatirimlari A.S.

 

Ahmet Ferhat Akgungor

 

 

 

GROUP

:

ARSAN GROUP OF COMPANIES

 

SISTER COMPANIES

:

AR KONSEPT MIMARLIK MUHENDISLIK A.S.

ARMADAS ARSAN MARAS DOGALGAZ DAGITIM A.S.

ARMAGAZ ARSAN MARMARA DOGALGAZ DAGITIM A.S.

ARSAN ARITMA VE INSAAT A.S.

ARSAN ENERJI A.S.

ARSAN GAYRIMENKUL YATIRIMLARI A.S.

ARSAN SOGUKPINAR ELEKTRIK URETIM A.S.

CATALCAM HES ELEKTRIK URETIM A.S.

CEVIZ ENERJI ELEKTRIK URETIM A.S.

DEGIRMENONU HES ELEKTRIK URETIM A.S.

DOTAS DOGALGAZ TICARET A.S.

HORYAN ENERJI A.S.

KIY ENERJI A.S.

KOPRUBASI ENERJI ELEKTRIK URETIM A.S.

KUTUP ENERJI ELEKTRIK URETIM A.S.

SARIGOL ELEKTRIK URETIM SANAYI VE TICARET LTD. STI.

 

SUBSIDIARIES

:

ARALIK ENERJI ELEKTRIK URETIM LIMITED SIRKETI

ARMADAS ARSAN MARAS DOGALGAZ DAGITIM A.S.

CORDAS CORLU DOGALGAZ DAGITIM A.S.

EYMIR ENERJI ELEKTRIK URETIM LTD. STI.

 

BOARD OF DIRECTORS

:

Mehmet Irfan Cengiz

Chairman

Yelda Cengiz

Vice-Chairman

Meltem Cengiz

Member

Ozlem Temizkan

Member

Nursel Karakas

Member

Ahmet Ferhat Akgungor

Member

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of wire and wire products to be used at construction sector.

 

NACE CODE

:

DJ.27.10

 

NUMBER OF EMPLOYEES

:

313

 

NET SALES

:

118.887.806 TL

(2009) 

174.627.781 TL

(2010) 

 

 

IMPORT COUNTRIES

:

Canada

Belgium

Ukraine

 

MERCHANDISE IMPORTED

:

Machinery

Raw material

 

EXPORT VALUE

:

14.901 USD Thousand

(2009)

21.847 USD Thousand

(2010)

 

 

EXPORT COUNTRIES

:

Free Zone

Iraq

U.K.

Northern Cyprus Turkish Republic

Tanzania

Saudi Arabia

Bosnia and Herzegovina

 

MERCHANDISE  EXPORTED

:

Industrial products     

Spare parts

 

HEAD OFFICE ADDRESS

:

Cumhuriyet Mah. Piri Reis Cad. No:3 Maltepe Istanbul / Turkey

 

 

BRANCHES

:

Factory  :  Adana Haci Sabanci Organize Sanayi Bolgesi  Ataturk Bulvari No:7 Yuregir Adana/Turkey (owned)

 

Factory  :  Diloavsi Organize Sanayi Bolgesi  Yildiz Mah.  Fatih Cad.  612 Sok. No:6  Diloavasi Gebze Kocaeli/Turkey (owned)

 

Factory  :  Adana Yumurtalik Serbest Bolgesi Adana/Turkey (rented)

 

Head Office  :  Cumhuriyet Mah. Piri Reis Cad. No:3 Maltepe Istanbul/Turkey (rented)

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2010.

SIZE OF BUSINESS

:

Large

 

FINANCE

 

 

MAIN DEALING BANKS

:

Garanti Bankasi Ust Bostanci Branch

Yapi Ve Kredi Bankasi Taksim Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

 

 

 

Net Sales

118.887.806

174.627.781

 

 

 

Profit (Loss) Before Tax

425.399

1.494.900

 

 

 

Stockholders' Equity

6.270.658

7.626.854

 

 

 

Total Assets

53.481.202

65.369.305

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:6.000.000 TL

Equity Part

:

Payment Due Date

:31.10.2014

Number of Days To Pay First Portion of The Cash Part of Capital Increase

:90

 

 

Capitalization

Low As of 31.12.2010

Remarks on Capitalization

There has been capital increase after the last balance sheet date.

Profitability

Low Net Profitability  in 2009

Low Net Profitability  in 2010

 

General Financial Position

Unsatisfactory

 

 

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

 ( 01.01-30.11.2011)

12,20 %

1,6616

2,3280

2,6658

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.30

UK Pound

1

Rs.82.66

Euro

1

Rs.68.91

 

 

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.