|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CELAL TEKSTIL SANAYI VE TICARET LTD. STI. |
|
|
|
|
Registered Office : |
60. Yil Cad. Ayranci Sanayi Sitesi F Blok Mutlu Ishani No:15 K:3
Bayrampasa Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Date of Incorporation : |
31.05.2002 |
|
|
|
|
Com. Reg. No.: |
477037 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture and trade of prayer rug, fabric and carpet. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
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 (31.03.2012) |
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 |
|
NAME |
: |
CELAL TEKSTIL SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
60. Yil Cad. Ayranci Sanayi Sitesi F Blok Mutlu Ishani No:15 K:3
Bayrampasa Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-567 08 36 |
|
FAX NUMBER |
: |
90-212-567 08 36 |
|
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 |
: |
Bayrampasa |
|
TAX NO |
: |
2040176652 |
|
REGISTRATION NUMBER |
: |
477037 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
31.05.2002 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
05.06.2002/5563 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 200.000 |
||||||
|
PAID-IN CAPITAL |
: |
TL 200.000 |
||||||
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||
|
SISTER COMPANIES |
: |
Declared to be: None |
||||||
|
SUBSIDIARIES |
: |
Declared to be: None |
||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of prayer rug, fabric and carpet. |
|
SECTOR |
: |
Textile |
|
NUMBER OF EMPLOYEES |
: |
15 |
|
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. |
|
IMPORT COUNTRIES |
: |
India |
|
MERCHANDISE IMPORTED |
: |
Yarn |
|
EXPORT COUNTRIES |
: |
Kazakhstan Ukraine Russia Algeria U.A.E. |
|
MERCHANDISE EXPORTED |
: |
Carpet Prayer rug |
|
HEAD OFFICE ADDRESS |
: |
60. Yil Cad. Ayranci Sanayi Sitesi F Blok Mutlu Ishani No:15 K:3 Bayrampasa
Istanbul / Turkey ( rented ) |
|
BRANCHES |
: |
Warehouse : Terazidere-Sema Sok. No:28 Kat:1 Bayrampasa
Istanbul/Turkey (rented) Head Office/Production Plant
: 60. Yil Cad. Ayranci Sanayi Sitesi
F Blok Mutlu Ishani No:15 K:3 Bayrampasa Istanbul/Turkey (rented) Production Plant : Ikitelli Tumsan San. Sit. A Blok No:7
Kucukcekmece Istanbul/Turkey (rented) |
|
INVESTMENTS |
: |
None |
|
MAIN DEALING BANKS |
: |
Akbank Yenibosna Branch |
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
|
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 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8028 |
2,3233 |
2,8527 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.