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Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ILKER YEMEZ-HERMES DIAMOND |
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Formerly Known As : |
Ilker Yemez -
F&T Kuyumculuk |
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Registered Office : |
Tepe Mah. 43. Sok. 16. Cad. No:24 Marmaris Mugla |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
4234-3662 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Wholesale trade of
diamond |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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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NOTES |
: |
Full name of the firm was missing at your inquiry. |
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NAME |
: |
ILKER YEMEZ-HERMES DIAMOND |
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HEAD OFFICE ADDRESS |
: |
Tepe Mah. 43. Sok. 16. Cad. No:24 Marmaris Mugla / Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
The door number was changed from "No:6" to "No:24"
by the Municipality. |
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PHONE NUMBER |
: |
90-252-412 85 51 |
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FAX NUMBER |
: |
90-252-412 85 53 |
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NOTES ON
LEGAL STATUS AND HISTORY |
: |
Liability of the
subject is not limited to the capital. |
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TAX OFFICE |
: |
Marmaris |
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TAX NO |
: |
32230018852 |
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REGISTRATION NUMBER |
: |
4234-3662 |
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REGISTERED OFFICE |
: |
Marmaris Chamber of Commerce |
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DATE ESTABLISHED |
: |
2003 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
20.08.2003/5867 |
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LEGAL FORM |
: |
Sole-Proprietorship |
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TYPE OF COMPANY |
: |
Private |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
The owner "Ilker Yemez" was born on 05.06.1970 and graduated
from university. |
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PROPERTIES OWNED BY THE OWNER/PARTNERS |
: |
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SISTER COMPANIES |
: |
Declared to be: None |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Wholesale trade of diamond. |
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NACE CODE |
: |
G .51.52 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
2 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Tepe Mah. 43. Sok. 16. Cad. No:24 Marmaris Mugla / Turkey |
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INVESTMENTS |
: |
None |
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TREND OF
BUSINESS |
: |
There appears a substantial
decline at sales volume in the first 3 months of this year. |
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SIZE OF BUSINESS |
: |
Modest |
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MAIN DEALING BANKS |
: |
Akbank Marmaris Branch Garanti Bankasi Marmaris Branch |
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CREDIT FACILITIES |
: |
No credit facility has come to our knowledge. |
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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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Capitalization |
Good As of
31.12.2011 |
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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. |
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Liquidity |
High As of
31.12.2011 |
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Remarks On
Liquidity |
The unfavorable
gap between average collection and average payable period has an adverse effect
on liquidity. |
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Profitability |
Low Operating
Profitability in 2011 Low Net
Profitability in 2011 Operating Loss
(01.01-31.03.2012) Net Loss
(01.01-31.03.2012) |
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Gap between
average collection and payable periods |
Unfavorable in
2011 |
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General
Financial Position |
Unsatisfactory |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-31.03.2012) |
0,65 % |
1,7995 |
2,3799 |
2,8402 |
|
( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
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( 31.12.2011 ) TL |
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CURRENT ASSETS |
388.644 |
0,98 |
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Not Detailed
Current Assets |
0 |
0,00 |
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Cash and Banks |
113.521 |
0,29 |
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Marketable
Securities |
0 |
0,00 |
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Account
Receivable |
158.055 |
0,40 |
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Other Receivable |
334 |
0,00 |
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Inventories |
108.835 |
0,27 |
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Advances Given |
0 |
0,00 |
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Accumulated
Construction Expense |
0 |
0,00 |
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Other Current
Assets |
7.899 |
0,02 |
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NON-CURRENT
ASSETS |
9.302 |
0,02 |
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Not Detailed
Non-Current Assets |
0 |
0,00 |
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Long-term
Receivable |
0 |
0,00 |
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Financial Assets |
0 |
0,00 |
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Tangible Fixed
Assets (net) |
9.302 |
0,02 |
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Intangible
Assets |
0 |
0,00 |
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Deferred Tax
Assets |
0 |
0,00 |
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Other Non-Current
Assets |
0 |
0,00 |
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TOTAL ASSETS |
397.946 |
1,00 |
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CURRENT
LIABILITIES |
107.356 |
0,27 |
|
Not Detailed
Current Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Accounts Payable |
90.617 |
0,23 |
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Loans from
Shareholders |
0 |
0,00 |
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Other Short-term
Payable |
0 |
0,00 |
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Advances from
Customers |
0 |
0,00 |
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Accumulated
Construction Income |
0 |
0,00 |
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Taxes Payable |
17.409 |
0,04 |
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Provisions |
-670 |
0,00 |
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Other Current
Liabilities |
0 |
0,00 |
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LONG-TERM
LIABILITIES |
0 |
0,00 |
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Not Detailed
Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Securities
Issued |
0 |
0,00 |
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Long-term
Payable |
0 |
0,00 |
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Loans from
Shareholders |
0 |
0,00 |
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Other Long-term
Liabilities |
0 |
0,00 |
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Provisions |
0 |
0,00 |
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STOCKHOLDERS'
EQUITY |
290.590 |
0,73 |
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Not Detailed
Stockholders' Equity |
290.590 |
0,73 |
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Paid-in Capital |
0 |
0,00 |
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Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
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Inflation
Adjustment of Capital |
0 |
0,00 |
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Equity of
Consolidated Firms |
0 |
0,00 |
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Reserves |
0 |
0,00 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated
Losses(-) |
0 |
0,00 |
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Net Profit
(loss) |
0 |
0,00 |
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TOTAL
LIABILITIES AND EQUITY |
397.946 |
1,00 |
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REMARKS ON FINANCIAL
STATEMENT |
: |
At the financial
statements according to TAS, "Cheques Received" and
"Outstanding Cheques" figures are under "Cash And Banks"
figure. Beginning from the financial statements of 31.12.2011, "Cheques
Received" and "Outstanding Cheques" figures will be given
under "Account Receivable" figure and "Account Payable"
figure respectively. |
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|
(2011) TL |
|
(01.01-31.03.2012)
TL |
|
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Net Sales |
443.092 |
1,00 |
16.987 |
1,00 |
|
Cost of Goods
Sold |
392.256 |
0,89 |
16.926 |
1,00 |
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Gross Profit |
50.836 |
0,11 |
61 |
0,00 |
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Operating
Expenses |
46.371 |
0,10 |
1.383 |
0,08 |
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Operating Profit |
4.465 |
0,01 |
-1.322 |
-0,08 |
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Other Income |
9 |
0,00 |
0 |
0,00 |
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Other Expenses |
8 |
0,00 |
0 |
0,00 |
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Financial
Expenses |
0 |
0,00 |
0 |
0,00 |
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Minority
Interests |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) of
consolidated firms |
0 |
0,00 |
0 |
0,00 |
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Profit (loss)
Before Tax |
4.466 |
0,01 |
-1.322 |
-0,08 |
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Tax Payable |
0 |
0,00 |
0 |
0,00 |
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Postponed Tax
Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit
(loss) |
4.466 |
0,01 |
-1.322 |
-0,08 |
|
|
(2011) |
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LIQUIDITY RATIOS |
|
|
Current Ratio |
3,62 |
|
Acid-Test Ratio |
2,53 |
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Cash Ratio |
1,06 |
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ASSET STRUCTURE RATIOS |
|
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Inventory/Total
Assets |
0,27 |
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Short-term
Receivable/Total Assets |
0,40 |
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Tangible
Assets/Total Assets |
0,02 |
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TURNOVER RATIOS |
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Inventory
Turnover |
3,60 |
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Stockholders'
Equity Turnover |
1,52 |
|
Asset Turnover |
1,11 |
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FINANCIAL
STRUCTURE |
|
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Stockholders'
Equity/Total Assets |
0,73 |
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Current
Liabilities/Total Assets |
0,27 |
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Financial
Leverage |
0,27 |
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Gearing
Percentage |
0,37 |
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PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,02 |
|
Operating Profit
Margin |
0,01 |
|
Net Profit
Margin |
0,01 |
|
Interest Cover |
|
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COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
128,42 |
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Average Payable
Period (days) |
83,17 |
|
WORKING CAPITAL |
281288,00 |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.02 |
|
UK Pound |
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.