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Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ERTUGRUL BUYURGAN |
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Registered Office : |
Yeni Acun Sok. No:3/2 Cebeci Cankaya Ankara |
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Country : |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
164550 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Closed Down |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
TURKEY - ECONOMIC OVERVIEW
Turkey's largely free-market economy is
increasingly driven by its industry and service sectors, although its
traditional agriculture sector still accounts for about 25% of employment. An
aggressive privatization program has reduced state involvement in basic
industry, banking, transport, and communication, and an emerging cadre of
middle-class entrepreneurs is adding dynamism to the economy and expanding
production beyond the traditional textiles and clothing sectors. The
automotive, construction, and electronics industries, are rising in importance
and have surpassed textiles within Turkey's export mix. Oil began to flow
through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone
that will bring up to 1 million barrels per day from the Caspian to market.
Several gas pipelines projects also are moving forward to help transport
Central Asian gas to Europe through Turkey, which over the long term will help
address Turkey's dependence on imported oil and gas to meet 97% of its energy
needs. After Turkey experienced a severe financial crisis in 2001, Ankara
adopted financial and fiscal reforms as part of an IMF program. The reforms
strengthened the country's economic fundamentals and ushered in an era of
strong growth - averaging more than 6% annually until 2008. Global economic
conditions and tighter fiscal policy caused GDP to contract in 2009, but
Turkey's well-regulated financial markets and banking system helped the country
weather the global financial crisis and GDP rebounded strongly to 8.2% in 2010,
as exports returned to normal levels following the recession. Turkey's public
sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has
pushed inflation to the 8% level, however, and worsened an already high current
account deficit. Turkey remains dependent on often volatile, short-term
investment to finance its large trade deficit. The stock value of FDI stood at
$99 billion at year-end 2011. Inflows have slowed considerably in light of
continuing economic turmoil in Europe, the source of much of Turkey's FDI.
Further economic and judicial reforms and prospective EU membership are
expected to boost Turkey's attractiveness to foreign investors. However,
Turkey's relatively high current account deficit, uncertainty related to
monetary policy-making, and political turmoil within Turkey's neighborhood
leave the economy vulnerable to destabilizing shifts in investor confidence
|
Source
: CIA |
The name stated at
your inquiry "ERTUG INTERNATIONAL SOURCING & TRADING was the English
trade name of "ERTUGRUL BUYURGAN" which was a
sole-proprietorship.
The subject was established in 2001 to deal with trade of agricultural
products.
It was registered at Ankara Commercial Registry with registration
number: 164550. (Commercial Registry Gazette Date/No: 14.08.2001/5360.).
The tax office of the subject was "Dikimevi" and the ID number
of "Ertugrul Buyurgan" is "44662361574".
The registered head office of the subject was “Yeni Acun Sok. No:3/2
Cebeci Cankaya Ankara Turkey”
However the
subject was legally closed down on 10.04.2012 (Commercial Registry Gazette
Date/No: 13.04.2012/8048).
|
|
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 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8029 |
2,3233 |
2,8527 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.