MIRA INFORM REPORT

 

 

Report Date :

26.05.2012

 

IDENTIFICATION DETAILS

 

Name :

TOKEZ YAG KECELERI SANAYI VE TICARET A.S.

 

 

Registered Office :

Yazibasi Beldesi Izmir Caddesi No:12 Torbali Izmir

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

14.02.1966

 

 

Com. Reg. No.:

2121

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of oil seal. 

 

 

No. of Employees :

80

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Turkey

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY IDENTIFICATION

 

NAME

:

TOKEZ YAG KECELERI SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Yazibasi Beldesi Izmir Caddesi No:12 Torbali Izmir / Turkey

PHONE NUMBER

:

90-232-853 86 82

 

FAX NUMBER

:

90-232-853 92 84

 

WEB-ADDRESS

:

www.tokez.com

E-MAIL

:

info@tokez.com

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Hasan Tahsin

TAX NO

:

8470027245

REGISTRATION NUMBER

:

2121

REGISTERED OFFICE

:

Torbali Chamber of Commerce

DATE ESTABLISHED

:

14.02.1966

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

 

REGISTERED CAPITAL

:

TL   150.000

PAID-IN CAPITAL

:

TL   150.000

HISTORY

:

Previous Legal Type

:

Co-Partnership

Changed On

:

13.12.1983 (Commercial Gazette Date /Number 28.12.1983/ 909)

Previous Name

:

Toker Kollektif Sirketi Mustafa Ungor ve Ortaklari

Changed On

:

13.12.1983 (Commercial Gazette Date /Number 28.12.1983/ 909)

Previous Address

:

Yazibasi Beldesi Sakarya Cad. No:2 Torbali Izmir

Changed On

:

05.08.2010 (Commercial Gazette Date /Number 13.08.2010/ 7628)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Suha Kahraman

30 %

Behiye Tuna Ozsoydan

28 %

Mehmet Coskun Kahraman

28 %

Emine Kahraman

10 %

Dilek Kahraman

2 %

Ali Ozsoydan

2 %

 

 

SISTER COMPANIES

:

EGETEK KAUCUK SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

Declared to be: None

 

BOARD OF DIRECTORS

:

Mehmet Coskun Kahraman

Chairman

Behiye Tuna Ozsoydan

Member

Suha Kahraman

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of oil seal. 

 

NACE CODE

:

DM.34.30

 

TRADEMARKS OWNED

:

Tokez

 

NUMBER OF EMPLOYEES

:

80

 

 

NET SALES

:

3.363.774 TL

(2008) 

2.926.627 TL

(2009) 

 

 

REMARKS ON NET SALES

:

In Turkey, there is no public registry on companies’ financial and detailed general data. So, to collect a firm’s data, an information agency has to contact the company and get its authorization. 

 

However the company strictly declines to give us an authorization to gather its fresh financial data. As the firm’s shares are not open to public it is not obliged to announce its data.

 

IMPORT VALUE

:

30.000 USD

(2011)

 

 

IMPORT COUNTRIES

:

Italy

Germany

China

 

MERCHANDISE IMPORTED

:

Raw materials

 

EXPORT VALUE

:

2.755.113 TL

(2008)

2.377.657 TL

(2009)

 

 

EXPORT COUNTRIES

:

Brazil

Pakistan

Iran

European Countries

U.S.A.

 

MERCHANDISE  EXPORTED

:

Oil seal

 

HEAD OFFICE ADDRESS

:

Yazibasi Beldesi Izmir Caddesi No:12 Torbali Izmir / Turkey

 

BRANCHES

:

Head Office/Production Plant  :  Yazibasi Beldesi Izmir Caddesi No:12 Torbali Izmir/Turkey

 

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There was a decline at business volume in nominal terms in  2009.

SIZE OF BUSINESS

:

Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Torbali Branch

Garanti Bankasi Gaziemir Branch

Halk Bankasi Ayrancilar Branch

Vakiflar Bankasi Gaziemir Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2008) TL

(2009) TL

 

 

 

Net Sales

3.363.774

2.926.627

 

 

 

Profit (Loss) Before Tax

841.687

335.792

 

 

 

Stockholders' Equity

1.017.206

1.027.603

 

 

 

Total Assets

1.790.319

2.053.832

 

 

 

Current Assets

1.588.925

1.236.165

 

 

 

Non-Current Assets

201.394

817.667

 

 

 

Current Liabilities

597.195

792.629

 

 

 

Long-Term Liabilities

175.918

233.600

 

 

 

Gross Profit (loss)

1.667.379

1.189.558

 

 

 

Operating Profit (loss)

1.057.945

493.548

 

 

 

Net Profit (loss)

666.340

260.397

 

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

General Financial Position

General financial position is undetermined the firm declines to give us an authorization to gather its financial data. As the shares of the firm are not open to public, it is not obliged to announce its data.

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.04.2012)

0,73 %

1,7910

2,3688

2,8440

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

CURRENT ASSETS

1.588.925

0,89

1.236.165

0,60

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

312.345

0,17

510.139

0,25

Marketable Securities

0

0,00

0

0,00

Account Receivable

1.090.858

0,61

564.337

0,27

Other Receivable

3.831

0,00

29.565

0,01

Inventories

4.515

0,00

6.597

0,00

Advances Given

50.019

0,03

0

0,00

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

127.357

0,07

125.527

0,06

NON-CURRENT ASSETS

201.394

0,11

817.667

0,40

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

18.000

0,01

18.000

0,01

Financial Assets

0

0,00

0

0,00

Tangible Fixed Assets (net)

143.635

0,08

769.395

0,37

Intangible Assets

38.331

0,02

29.000

0,01

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

1.428

0,00

1.272

0,00

TOTAL ASSETS

1.790.319

1,00

2.053.832

1,00

CURRENT LIABILITIES

597.195

0,33

792.629

0,39

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

294.860

0,16

283.879

0,14

Accounts Payable

27.082

0,02

285.467

0,14

Loans from Shareholders

0

0,00

0

0,00

Other Short-term Payable

9.463

0,01

0

0,00

Advances from Customers

0

0,00

0

0,00

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

265.790

0,15

223.283

0,11

Provisions

0

0,00

0

0,00

Other Current Liabilities

0

0,00

0

0,00

LONG-TERM LIABILITIES

175.918

0,10

233.600

0,11

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

163.333

0,09

233.600

0,11

Securities Issued

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

Other Long-term Liabilities

12.585

0,01

0

0,00

Provisions

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

1.017.206

0,57

1.027.603

0,50

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

150.000

0,08

150.000

0,07

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

Inflation Adjustment of Capital

56.783

0,03

56.783

0,03

Equity of Consolidated Firms

0

0,00

0

0,00

Reserves

144.083

0,08

560.423

0,27

Revaluation Fund

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

Net Profit (loss)

666.340

0,37

260.397

0,13

TOTAL LIABILITIES AND EQUITY

1.790.319

1,00

2.053.832

1,00

 

 

INCOME STATEMENTS

 

 

(2008) TL

 

(2009) TL

 

Net Sales

3.363.774

1,00

2.926.627

1,00

Cost of Goods Sold

1.696.395

0,50

1.737.069

0,59

Gross Profit

1.667.379

0,50

1.189.558

0,41

Operating Expenses

609.434

0,18

696.010

0,24

Operating Profit

1.057.945

0,31

493.548

0,17

Other Income

70.119

0,02

43.641

0,01

Other Expenses

138.749

0,04

74.729

0,03

Financial Expenses

147.628

0,04

126.668

0,04

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

841.687

0,25

335.792

0,11

Tax Payable

175.347

0,05

75.395

0,03

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

666.340

0,20

260.397

0,09

 

FINANCIAL RATIOS

 

 

(2008)

(2009)

LIQUIDITY RATIOS

 

Current Ratio

2,66

1,56

Acid-Test Ratio

2,36

1,39

Cash Ratio

0,52

0,64

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,00

0,00

Short-term Receivable/Total Assets

0,61

0,29

Tangible Assets/Total Assets

0,08

0,37

TURNOVER RATIOS

 

Inventory Turnover

375,72

263,31

Stockholders' Equity Turnover

3,31

2,85

Asset Turnover

1,88

1,42

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,57

0,50

Current Liabilities/Total Assets

0,33

0,39

Financial Leverage

0,43

0,50

Gearing Percentage

0,76

1,00

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,66

0,25

Operating Profit Margin

0,31

0,17

Net Profit Margin

0,20

0,09

Interest Cover

6,70

3,65

COLLECTION-PAYMENT

 

Average Collection Period (days)

118,67

71,63

Average Payable Period (days)

5,75

59,16

WORKING CAPITAL

991730,00

443536,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.73

UK Pound

1

Rs.87.26

Euro

1

Rs.69.84

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.