MIRA INFORM REPORT

 

 

Report Date :           

24.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

PORTMARK DIS TICARET LTD. STI.

 

 

Registered Office :

Gayrettepe Mah. Buyukdere Cad. Beyazit Han No:86 Kat:9 Sisli Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

20.10.2010

 

 

Com. Reg. No.:

751379

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Trader of electric wires and chemicals.

 

 

No. of Employees :

04

 

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 :

Small Company 

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

:

 "PORTMARK FOREIGN TRADE CO. LTD." is the name of "PORTMARK DIS TICARET LTD. STI." in English.

 

NOTES

:

Full name of the firm was missing at your inquiry.

 

Address at your inquiry is the former address.

 

 

COMPANY IDENTIFICATION

 

NAME

:

PORTMARK DIS TICARET LTD. STI.

HEAD OFFICE ADDRESS

:

Gayrettepe Mah. Buyukdere Cad. Beyazit Han No:86 Kat:9 Sisli Istanbul / Turkey

PHONE NUMBER

:

90-212-275 76 51

 

FAX NUMBER

:

90-212-275 76 52

 

WEB-ADDRESS

:

www.portmarkint.com

E-MAIL

:

info@portmarkint.com

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Mecidiyekoy

TAX NO

:

7320694799

REGISTRATION NUMBER

:

751379

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

20.10.2010

ESTABLISHMENT GAZETTE DATE/NO

:

26.10.2010/7677

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   50.000

PAID-IN CAPITAL

:

TL   8.000

HISTORY

:

Previous Address

:

Fulya Mah. Ortaklar Cad. Bahceler Sok. No:16 Daire:11 Kat:2 Mecidiyekoy - Istanbul

Changed On

:

16.01.2012 (Commercial Gazette Date /Number 20.01.2012/ 7988)

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Selcuk Kumbasar

60 %

Ilker Nacakli

40 %

 

 

SISTER COMPANIES

:

CARETTA YAZILIM VE DANISMANLIK HIZMETLERI LTD. STI.

 

KARENA INSAN KAYNAKLARI VE YONETIM DANISMANLIGI LTD. STI.

 

DIRECTORS

:

Selcuk Kumbasar

 

Ilker Nacakli

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Trade of electric wires and chemicals.

 

NACE CODE

:

G. 51.90

 

SECTOR

:

Commerce

 

TRADEMARKS TRADED

:

Lumovia

 

NUMBER OF EMPLOYEES

:

4

 

NET SALES

:

141 TL

(20.10-31.12.2010) 

20.819 TL

(01.01-30.09.2011) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

 

IMPORT VALUE

:

11.000 USD

(2011)

 

 

IMPORT COUNTRIES

:

China

India

 

MERCHANDISE IMPORTED

:

Chemicals

Electric wires

 

EXPORT VALUE

:

0 TL

(20.10-31.12.2010)

0 TL

(01.01-30.09.2011)

 

 

HEAD OFFICE ADDRESS

:

Gayrettepe Mah. Buyukdere Cad. Beyazit Han No:86 Kat:9 Sisli Istanbul / Turkey ( rented )

 

INVESTMENTS

:

None

 

 

TREND OF BUSINESS

:

Undetermined; young business.

SIZE OF BUSINESS

:

Small

 

 

FINANCE

 

MAIN DEALING BANKS

:

Garanti Bankasi Ortaklar Cad. Branch

 

CREDIT FACILITIES

:

No credit facility has come our knowledge

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(20.10-31.12.2010) TL

(01.01-30.09.2011) TL

 

 

 

Net Sales

141

20.819

 

 

 

Profit (Loss) Before Tax

-6.923

-36.486

 

 

 

Stockholders' Equity

1.077

 

 

 

 

Total Assets

5.448

 

 

 

 

Current Assets

4.063

 

 

 

 

Non-Current Assets

1.385

 

 

 

 

Current Liabilities

4.371

 

 

 

 

Long-Term Liabilities

0

 

 

 

 

Gross Profit (loss)

141

7.615

 

 

 

Operating Profit (loss)

-6.854

-36.172

 

 

 

Net Profit (loss)

-6.923

-36.486

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Negative Stockholders’ Equity

Remarks on Capitalization

The loss at the last interim period is expected to have a negative effect on equity total since the last balance sheet date.

Liquidity

Fair As of 31.12.2010

Profitability

Operating Loss (20.10-31.12.2010)

Net Loss (20.10-31.12.2010)

Operating Loss (01.01-30.09.2011)

Net Loss (01.01-30.09.2011)

 

General Financial Position

Poor

 

 

 

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

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

4.063

0,75

Not Detailed Current Assets

0

0,00

Cash and Banks

3.096

0,57

Marketable Securities

0

0,00

Account Receivable

0

0,00

Other Receivable

0

0,00

Inventories

0

0,00

Advances Given

401

0,07

Accumulated Construction Expense

0

0,00

Other Current Assets

566

0,10

NON-CURRENT ASSETS

1.385

0,25

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

0

0,00

Intangible Assets

1.385

0,25

Deferred Tax Assets

0

0,00

Other Non-Current Assets

0

0,00

TOTAL ASSETS

5.448

1,00

CURRENT LIABILITIES

4.371

0,80

Not Detailed Current Liabilities

0

0,00

Financial Loans

0

0,00

Accounts Payable

3.264

0,60

Loans from Shareholders

0

0,00

Other Short-term Payable

0

0,00

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

1.107

0,20

Provisions

0

0,00

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

0

0,00

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

0

0,00

Other Long-term Liabilities

0

0,00

Provisions

0

0,00

STOCKHOLDERS' EQUITY

1.077

0,20

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

8.000

1,47

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)

-6.923

-1,27

TOTAL LIABILITIES AND EQUITY

5.448

1,00

 

 

INCOME STATEMENTS

 

 

(20.10-31.12.2010) TL

 

(01.01-30.09.2011) TL

 

Net Sales

141

1,00

20.819

1,00

Cost of Goods Sold

0

0,00

13.204

0,63

Gross Profit

141

1,00

7.615

0,37

Operating Expenses

6.995

49,61

43.787

2,10

Operating Profit

-6.854

-48,61

-36.172

-1,74

Other Income

0

0,00

0

0,00

Other Expenses

49

0,35

227

0,01

Financial Expenses

20

0,14

87

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

-6.923

-49,10

-36.486

-1,75

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

-6.923

-49,10

-36.486

-1,75

 

FINANCIAL RATIOS

 

 

(20.10-31.12.2010)

LIQUIDITY RATIOS

 

Current Ratio

0,93

Acid-Test Ratio

0,71

Cash Ratio

0,71

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,00

Short-term Receivable/Total Assets

0,00

Tangible Assets/Total Assets

0,00

TURNOVER RATIOS

 

Inventory Turnover

 

Stockholders' Equity Turnover

0,13

Asset Turnover

0,03

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,20

Current Liabilities/Total Assets

0,80

Financial Leverage

0,80

Gearing Percentage

4,06

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

-6,43

Operating Profit Margin

-48,61

Net Profit Margin

-49,10

Interest Cover

-345,15

COLLECTION-PAYMENT

 

Average Collection Period (days)

0,00

Average Payable Period (days)

 

WORKING CAPITAL

-308,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.24

UK Pound

1

Rs.78.13

Euro

1

Rs.64.79

 

 

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.