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Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SANDOZ SYNTEK ILAC HAMMADDELERI SANAYI VE
TICARET A.S. |
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Formerly Known As : |
Milen Ilac Hammaddeleri Sanayi ve Ticaret
A.S. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.04.1972 |
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Com. Reg. No.: |
20355-8 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of pharmaceutical raw materials |
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No. of Employees : |
103 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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
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NOTES |
: |
Address at your inquiry is the former address. |
|
NAME |
: |
SANDOZ SYNTEK ILAC HAMMADDELERI SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Istanbul Deri Organize Deri
Sanayi Bolgesi Kazlicesme Cad. No:46 H8 Ozel
Pr. Tuzla Istanbul / Turkey |
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PHONE NUMBER |
: |
90-216-458 35 00 |
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FAX NUMBER |
: |
90-216-394 22 29 |
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TAX OFFICE |
: |
Anadolu Kurumlar |
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TAX NO |
: |
6210032387 |
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REGISTRATION NUMBER |
: |
20355-8 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
08.04.1972 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 24.000.002,80 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
We are informed that the shareholder "Novartis
Holding AG" is a foreign company located in Switzerland. |
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SUBSIDIARIES |
: |
SANDOZ ILAC SANAYI VE TICARET A.S. |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of pharmaceutical raw materials. |
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NACE CODE |
: |
DG.24.40 |
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TRADEMARKS OWNED |
: |
Sandoz |
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NUMBER OF EMPLOYEES |
: |
103 |
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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 financial data. As the firm’s shares are not open to public it is
not obliged to announce its data. |
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IMPORT COUNTRIES |
: |
China India European Countries |
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MERCHANDISE IMPORTED |
: |
Raw materials |
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EXPORT COUNTRIES |
: |
Denmark China Germany Northern Cyprus Turkish Republic Brazil Taiwan Slovenia Switzerland India Spain Italy |
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MERCHANDISE EXPORTED |
: |
Pharmaceutical raw materials |
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HEAD OFFICE ADDRESS |
: |
Istanbul Deri Organize Deri
Sanayi Bolgesi Kazlicesme Cad. No:46 H8 Ozel
Pr. Tuzla Istanbul / Turkey ( owned ) |
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BRANCHES |
: |
Head Office/Factory : Istanbul Deri
Organize Deri Sanayi Bolgesi Kazlicesme Cad. No:46
H8 Ozel Pr. Tuzla
Istanbul/Turkey (owned) |
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MAIN DEALING BANKS |
: |
Garanti Bankasi Kozyatagi Kurumsal Branch HSBC Bank Istanbul Kurumsal Branch Yapi ve Kredi Bankasi Anadolu Yakasi Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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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 |
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( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-31.10.2012) |
5,36 % |
1,8020 |
2,3241 |
2,8562 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
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UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.