MIRA INFORM REPORT

 

 

Report Date :

05.10.2012

 

IDENTIFICATION DETAILS

 

Name :

HULUSI KARGA HULUSI KARGA AZIMPA

 

 

 

 

Registered Office :

Meydan Mahallesi Kuyu Sokak Fulya Apt. A Blok No:31 Aksehir Konya

 

 

Country :

Turkey

 

 

Date of Incorporation :

30.04.2012

 

 

Com. Reg. No.:

4772-Aksehir

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Selling Carpets

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

New Business

 

--

 

Status :

New Business

Payment Behaviour :

Unknown

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

(31.03.2011)

Current Rating

(30.06.2012)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

NOTES

:

Full name of the firm was missing at your inquiry.

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

HULUSI KARGA HULUSI KARGA AZIMPA

HEAD OFFICE ADDRESS

:

Meydan Mahallesi Kuyu Sokak Fulya Apt. A Blok No:31 Aksehir Konya / Turkey

PHONE NUMBER

:

90-541-939 21 07 (Gsm Number of the owner)

 

FAX NUMBER

:

90-332-813 19 57

 

 

LEGAL STATUS AND HISTORY

 

 

NOTES ON LEGAL STATUS AND HISTORY

:

Liability of the subject is not limited to the capital.

 

 

TAX OFFICE

:

Aksehir

TAX NO

:

17186780862

REGISTRATION NUMBER

:

4772-Aksehir

REGISTERED OFFICE

:

Aksehir Chamber of Commerce and Industry

DATE ESTABLISHED

:

30.04.2012

ESTABLISHMENT GAZETTE DATE/NO

:

07.05.2012/8062

LEGAL FORM

:

Sole-Proprietorship

 

TYPE OF COMPANY

:

Private

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Hulusi Karga

100 %

 

 

SISTER COMPANIES

:

Declared to be: None

 

DIRECTORS

:

Hulusi Karga

 

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

The firm which was established on 30.04.2012 to deal with  wholesale trade of carpet has declared that, it has not made out any invoice yet. The subject has declared that, it has imported carpets but the carpets have not been cleared from the customs yet. The firm plans to start selling carpets in a month.

 

NACE CODE

:

G .51.47

 

SECTOR

:

Commerce

 

REMARKS ON NET SALES

:

The subject has declared that, it has not made out any invoice yet.

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

India

 

MERCHANDISE IMPORTED

:

Carpet

 

EXPORT VALUE

:

0 TL

(30.04-31.08.2012)

 

 

HEAD OFFICE ADDRESS

:

Meydan Mahallesi Kuyu Sokak Fulya Apt. A Blok No:31 Aksehir Konya / Turkey ( rented )

 

INVESTMENTS

:

None

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Denizbank Aksehir Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 01.01-31.08.2012)

2,28 %

1,8038

2,3238

2,8465

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.97

UK Pound

1

Rs.83.67

Euro

1

Rs.67.19

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

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