MIRA INFORM REPORT

 

 

Report Date :

05.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SUNTEKS DOKUMA BOYA APRE SANAYI VE TICARET A.S.

 

 

Registered Office :

Demirtas Organize Sanayi Bolgesi M. Karaer Cad. No:5 Osmangazi Bursa

 

 

Country :

Turkey

 

 

Date of Incorporation :

18.02.1977

 

 

Com. Reg. No.:

54692

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of woven fabric

 

 

No. of Employees :

650

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Turkey

 B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY IDENTIFICATION

 

NAME

:

SUNTEKS DOKUMA BOYA APRE SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Demirtas Organize Sanayi Bolgesi M. Karaer Cad. No:5 Osmangazi Bursa / Turkey

PHONE NUMBER

:

90-224-261 02 31

 

FAX NUMBER

:

90-224-261 09 10

 

WEB-ADDRESS

:

www.sunteks.com.tr

E-MAIL

:

sunteks@sunteks.com.tr

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

The paid-in capital is declared by the subject. There is no certification for the paid-in capital.

 

TAX OFFICE

:

Ertugrulgazi

TAX NO

:

7840004819

REGISTRATION NUMBER

:

54692

REGISTERED OFFICE

:

Bursa Chamber of Commerce and Industry

DATE ESTABLISHED

:

18.02.1977

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   114.000.000

PAID-IN CAPITAL

:

TL   114.000.000

HISTORY

:

Previous Registered Capital

:

TL 100.000.000

Changed On

:

01.07.2009 (Commercial Gazette Date /Number 15.07.2009/ 7354)

Other Changes

:

The company was firstly established in Istanbul and it was registered at Istanbul  Commercial Registry with registration no:144959.Then the company moved to Bursa and registered at Bursa Commercial Registry under the registration no:54692-63523.

Changed On

:

18.09.2003 (Commercial Gazette Date /Number 09.10.2003/ 5903)

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Rafet Kahraman

24 %

Ferudun Kahraman

24 %

Mehmet Kahraman

24 %

Others

 

 

 

SISTER COMPANIES

:

SUNTEKS IC VE DIS TICARET LTD. STI.

 

SUBSIDIARIES

:

Declared to be: None

 

BOARD OF DIRECTORS

:

Rafet Kahraman

Chairman

Mehmet Kahraman

Member

Ferudun Kahraman

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of woven fabric.

 

NACE CODE

:

DB.17.20

 

SECTOR

:

Textile

 

NUMBER OF EMPLOYEES

:

650

 

 

NET SALES

:

93.620 TL Thousand

(2006) 

84.446 TL Thousand

(2007) 

92.760 TL Thousand

(2008) 

95.012.862 TL

(2009) 

106.817.055 TL

(2010) 

110.000.000 TL

(01.01-30.09.2011) 

 

 

REMARKS ON NET SALES

:

The sale figure of 01.01.-30.09.2011 is declared by the subject company. There is no certification for this figure.

 

IMPORT COUNTRIES

:

Far East Countries

 

MERCHANDISE IMPORTED

:

Raw fabric

 

EXPORT VALUE

:

20.427.000 USD

(2006)

21.500.000 USD

(2007)

23.739.000 USD

(2008)

20.279.000 USD

(2009)

24.249.000 USD

(2010)

 

 

EXPORT COUNTRIES

:

Tunisia

Bulgaria

Romania

Spain

U.K.

Italy

Netherlands

Morocco

France

U.S.A.

India

Moldova

Poland

Austria

Belgium

Germany

China

Hong-Kong

 

MERCHANDISE  EXPORTED

:

Fabric

 

HEAD OFFICE ADDRESS

:

Demirtas Organize Sanayi Bolgesi M. Karaer Cad. No:5 Osmangazi Bursa / Turkey ( owned )

 

BRANCHES

:

Head Office/Factory  :  Demirtas Organize Sanayi Bolgesi M. Karaer Cad. No:5 Osmangazi Bursa/Turkey (owned)

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2010. There appears an upwards trend in  1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

T. Garanti Bankasi Marmara Kurumsal Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

 

 

 

Net Sales

95.012.862

106.817.055

 

 

 

Profit (Loss) Before Tax

2.857.588

5.439.992

 

 

 

Stockholders' Equity

126.467.862

130.817.573

 

 

 

Total Assets

142.321.126

175.693.893

 

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

High As of 31.12.2010

Profitability

Fair Net Profitability  in 2009

Good Net Profitability  in 2010

 

General Financial Position

Satisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 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

 ( 01.01-30.04.2012)

0,73 %

1,7910

2,3688

2,8440

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.52

UK Pound

1

Rs.85.29

Euro

1

Rs.68.86

 

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%)

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.