|
Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARAS PASLANMAZ METAL SANAYI VE TICARET LTD. STI. |
|
|
|
|
Registered Office : |
S. Nizam Mah. Demirciler Sitesi 1. Cad. No: 33 Zeytinburnu Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
02.01.2001 |
|
|
|
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Com. Reg. No.: |
451089 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
line of business
: |
Wholesale trade of stainless steel bar. |
|
|
|
|
No. of Employees : |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit: |
2.000.000 EUR |
|
Status : |
Satisfactory |
|
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 |
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 |
: |
ARAS PASLANMAZ METAL SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
S. Nizam Mah. Demirciler Sitesi 1. Cad. No: 33 Zeytinburnu Istanbul /
Turkey |
|
PHONE NUMBER |
: |
90-212-582 02 67 90-212-582 02 68 |
|
FAX NUMBER |
: |
90-212-546 49 60 |
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WEB-ADDRESS |
: |
www.araspaslanmaz.com |
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E-MAIL |
: |
info@araspaslanmaz.com |
|
TAX OFFICE |
: |
Marmara Kurumlar |
||||||||||||||||||
|
TAX NO |
: |
0720160909 |
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REGISTRATION NUMBER |
: |
451089 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
02.01.2001 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
08.01.2001/5209 |
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LEGAL FORM |
: |
Limited Company |
||||||||||||||||||
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TYPE OF COMPANY |
: |
Private |
||||||||||||||||||
|
REGISTERED CAPITAL |
: |
TL 18.500.000 |
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HISTORY |
: |
|
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SHAREHOLDERS |
: |
|
||||||||
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SISTER COMPANIES |
: |
Declared to be: None |
||||||||
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SUBSIDIARIES |
: |
None |
||||||||
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DIRECTORS |
: |
|
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BUSINESS ACTIVITIES |
: |
Wholesale trade of stainless steel bar. |
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NACE CODE |
: |
G.51.52 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
22 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The net sales of 2010, 2011 and 1.1.-30.6.2012 are declared by the
company. There is no certification for these figures. |
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IMPORT VALUE |
: |
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IMPORT COUNTRIES |
: |
India Taiwan Italy China Japan U.A.E. Belgium Finland Germany |
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MERCHANDISE IMPORTED |
: |
Metal sheet Pipe Stainless steel |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
S. Nizam Mah. Demirciler Sitesi 1. Cad. No: 33 Zeytinburnu Istanbul / Turkey ( owned ) |
||||||||||||||||||||||||||
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BRANCHES |
: |
Warehouse : Demirciler Sit. 2. Yol No:48 Zeytinburnu
Istanbul/Turkey (owned by shareholder(s)) Warehouse : Des Sanayi Sitesi 106.Sok. B12 Blok N:20
Umraniye Istanbul/Turkey (owned by shareholder(s)) Warehouse : Des Sanayi Sitesi 110.Sok. D28 Blok N:5
Umraniye Istanbul/Turkey (owned by shareholder(s)) Warehouse : Des Sanayi Sitesi 106.Sok. B12 Blok N:16
Umraniye Istanbul/Turkey (owned by shareholder(s)) Warehouse : S. Nizam Mah. Demirciler Sitesi 1. Cad.
No:31 Zeytinburnu Istanbul/Turkey (rented) Warehouse : Demirciler Sit. 1. Cad. No:41 Zeytinburnu
Istanbul/Turkey (owned by shareholder(s)) Head Office/Store : S. Nizam Mah. Demirciler Sitesi 1. Cad. No:
33 Zeytinburnu Istanbul/Turkey (owned) |
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INVESTMENTS |
: |
None |
|
TREND OF BUSINESS |
: |
There was an upwards trend in
2011. Trend of business was steady in 1.1.-30.6.2012. |
|
SIZE OF BUSINESS |
: |
Large |
|
MAIN DEALING BANKS |
: |
Denizbank Demirciler Sitesi Branch Garanti Bankasi Demirciler Sitesi Branch Turk Ekonomi Bankasi Demirciler Sitesi Branch Yapi ve Kredi Bankasi Demirciler Sitesi Branch |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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CREDIT FACILITIES |
: |
No credit facility has come to our knowledge. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The financial figures of 2010 and 2011 are declared by the company.
There is no certification for these figures. |
|
Capitalization |
High As of 31.12.2010 |
|
Remarks on Capitalization |
There has been capital increase after the last balance sheet date. The
capital increase financed by cash is expected to have an improvement at
equity total since the last balance sheet date. |
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Liquidity |
High As of 31.12.2010 |
|
Profitability |
Good Operating Profitability in
2009 Good Net Profitability in 2009 Good Net Profitability in 2010 Good Net Profitability in 2011 |
|
General Financial Position |
Good |
|
Remarks on General Financial Position |
Recent financial figures are not available the firm declines to
provide fresh financial data. |
|
CREDIT LIMIT |
: |
2.000.000 EUR |
|
CREDIT OPINION
WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of 2.000.000 EUR
may be granted to the subject company. |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2001 ) |
88,60 % |
1,1991 |
1,0714 |
1,7300 |
|
( 2002 ) |
30,80 % |
1,5168 |
1,3741 |
2,2001 |
|
( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
|
( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
|
( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
|
( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
|
( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
|
( 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 |
|
( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8029 |
2,3233 |
2,8527 |
|
|
( 31.12.2009 ) TL |
|
|
CURRENT ASSETS |
24.734.440 |
0,97 |
|
Not Detailed Current Assets |
0 |
0,00 |
|
Cash and Banks |
308.252 |
0,01 |
|
Marketable Securities |
0 |
0,00 |
|
Account Receivable |
7.278.947 |
0,28 |
|
Other Receivable |
923 |
0,00 |
|
Inventories |
15.873.333 |
0,62 |
|
Advances Given |
1.233.607 |
0,05 |
|
Accumulated Construction Expense |
0 |
0,00 |
|
Other Current Assets |
39.378 |
0,00 |
|
NON-CURRENT ASSETS |
841.514 |
0,03 |
|
Not Detailed Non-Current Assets |
0 |
0,00 |
|
Long-term Receivable |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
|
Tangible Fixed Assets (net) |
838.255 |
0,03 |
|
Intangible Assets |
1.014 |
0,00 |
|
Deferred Tax Assets |
0 |
0,00 |
|
Other Non-Current Assets |
2.245 |
0,00 |
|
TOTAL ASSETS |
25.575.954 |
1,00 |
|
CURRENT LIABILITIES |
5.612.941 |
0,22 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
|
Accounts Payable |
78.249 |
0,00 |
|
Loans from Shareholders |
5.342.505 |
0,21 |
|
Other Short-term Payable |
14.400 |
0,00 |
|
Advances from Customers |
0 |
0,00 |
|
Accumulated Construction Income |
0 |
0,00 |
|
Taxes Payable |
20.123 |
0,00 |
|
Provisions |
157.664 |
0,01 |
|
Other Current Liabilities |
0 |
0,00 |
|
LONG-TERM LIABILITIES |
0 |
0,00 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
|
Securities Issued |
0 |
0,00 |
|
Long-term Payable |
0 |
0,00 |
|
Loans from Shareholders |
0 |
0,00 |
|
Other Long-term Liabilities |
0 |
0,00 |
|
Provisions |
0 |
0,00 |
|
STOCKHOLDERS' EQUITY |
19.963.013 |
0,78 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
7.500.000 |
0,29 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation Adjustment of Capital |
245.342 |
0,01 |
|
Equity of Consolidated Firms |
0 |
0,00 |
|
Reserves |
10.900.460 |
0,43 |
|
Revaluation Fund |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
|
Net Profit (loss) |
1.317.211 |
0,05 |
|
TOTAL LIABILITIES AND EQUITY |
25.575.954 |
1,00 |
|
|
(2009) TL |
|
|
Net Sales |
25.021.273 |
1,00 |
|
Cost of Goods Sold |
22.195.528 |
0,89 |
|
Gross Profit |
2.825.745 |
0,11 |
|
Operating Expenses |
933.856 |
0,04 |
|
Operating Profit |
1.891.889 |
0,08 |
|
Other Income |
301.849 |
0,01 |
|
Other Expenses |
308.127 |
0,01 |
|
Financial Expenses |
235.823 |
0,01 |
|
Minority Interests |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
|
Profit (loss) Before Tax |
1.649.788 |
0,07 |
|
Tax Payable |
332.577 |
0,01 |
|
Postponed Tax Gain |
0 |
0,00 |
|
Net Profit (loss) |
1.317.211 |
0,05 |
|
|
(2009) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
4,41 |
|
Acid-Test Ratio |
1,35 |
|
Cash Ratio |
0,05 |
|
ASSET STRUCTURE RATIOS |
|
|
Inventory/Total Assets |
0,62 |
|
Short-term Receivable/Total Assets |
0,28 |
|
Tangible Assets/Total Assets |
0,03 |
|
TURNOVER RATIOS |
|
|
Inventory Turnover |
1,40 |
|
Stockholders' Equity Turnover |
1,25 |
|
Asset Turnover |
0,98 |
|
FINANCIAL STRUCTURE |
|
|
Stockholders' Equity/Total Assets |
0,78 |
|
Current Liabilities/Total Assets |
0,22 |
|
Financial Leverage |
0,22 |
|
Gearing Percentage |
0,28 |
|
PROFITABILITY RATIOS |
|
|
Net Profit/Stockholders' Eq. |
0,07 |
|
Operating Profit Margin |
0,08 |
|
Net Profit Margin |
0,05 |
|
Interest Cover |
8,00 |
|
COLLECTION-PAYMENT |
|
|
Average Collection Period (days) |
104,73 |
|
Average Payable Period (days) |
1,27 |
|
WORKING CAPITAL |
19121499,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.75 |
|
UK Pound |
1 |
Rs.85.07 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.