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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HAYDARPASA DIS TICARET LTD. STI. |
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Registered Office : |
Camiserif Mah. Istiklal Cad. Icel Apartmani K:7 No:28 Mersin |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.02.1993 |
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Com. Reg. No.: |
12658 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale trade of grain products. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Turkey |
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
REMARKS |
: |
The full name of the firm was missing at your inquiry. The registered
full name of the firm having the address stated at your inquiry is "HAYDARPASA
DIS TICARET LTD. STI. ". |
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NAME |
: |
HAYDARPASA DIS TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Camiserif Mah. Istiklal Cad. Icel Apartmani K:7 No:28 Mersin / Turkey |
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PHONE NUMBER |
: |
90-324-231 12 13 |
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FAX NUMBER |
: |
90-324-238 09 06 |
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TAX OFFICE |
: |
Liman |
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TAX NO |
: |
4600015904 |
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REGISTRATION NUMBER |
: |
12658 |
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REGISTERED OFFICE |
: |
Mersin Chamber of Commerce and Industry |
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DATE ESTABLISHED |
: |
18.02.1993 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
24.02.1993/3228 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 25.000 |
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PAID-IN CAPITAL |
: |
TL 25.000 |
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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 grain products. |
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NACE CODE |
: |
G .51.21 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
3 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Iraq |
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MERCHANDISE EXPORTED |
: |
Grain products |
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HEAD OFFICE ADDRESS |
: |
Camiserif Mah. Istiklal Cad. Icel Apartmani K:7 No:28 Mersin / Turkey |
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BRANCHES |
: |
Branch Office : Mersin Serbest Bolge (Free Zone)
Mersin/Turkey |
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INVESTMENTS |
: |
None |
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TREND OF
BUSINESS |
: |
There appears an
upwards trend in 1.1 - 30.6.2012. |
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SIZE OF BUSINESS |
: |
Small |
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MAIN DEALING BANKS |
: |
Garanti Bankasi Mersin Serbest Bolge 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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Capitalization |
High As of
31.12.2011 |
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Remarks on
Capitalization |
A part of total
liabilities and equity consist of loans from shareholders rather than
liabilities to third parties indicating low indebtedness to third parties. |
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Liquidity |
Satisfactory As
of 31.12.2011 |
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Remarks On
Liquidity |
A part of
current liabilities consist of short-term loans from shareholders rather than
liabilities to third parties. |
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Profitability |
Low Operating
Profitability in 2011 Low Net
Profitability in 2011 Low Operating
Profitability (01.01-30.06.2012) Low Net
Profitability (01.01-30.06.2012) |
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Gap between
average collection and payable periods |
In order in 2011 |
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General
Financial Position |
In Order |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
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( 01.01-31.08.2012) |
2,28 % |
1,8038 |
2,3238 |
2,8465 |
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( 31.12.2011 ) TL |
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CURRENT ASSETS |
74.292 |
0,58 |
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Not Detailed
Current Assets |
0 |
0,00 |
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Cash and Banks |
4.700 |
0,04 |
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Marketable
Securities |
0 |
0,00 |
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Account
Receivable |
0 |
0,00 |
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Other Receivable |
0 |
0,00 |
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Inventories |
0 |
0,00 |
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Advances Given |
0 |
0,00 |
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Accumulated
Construction Expense |
0 |
0,00 |
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Other Current
Assets |
69.592 |
0,55 |
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NON-CURRENT
ASSETS |
53.248 |
0,42 |
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Not Detailed
Non-Current Assets |
0 |
0,00 |
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Long-term
Receivable |
0 |
0,00 |
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Financial Assets |
0 |
0,00 |
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Tangible Fixed
Assets (net) |
53.248 |
0,42 |
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Intangible
Assets |
0 |
0,00 |
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Deferred Tax
Assets |
0 |
0,00 |
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Other
Non-Current Assets |
0 |
0,00 |
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TOTAL ASSETS |
127.540 |
1,00 |
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CURRENT
LIABILITIES |
73.766 |
0,58 |
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Not Detailed
Current Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Accounts Payable |
0 |
0,00 |
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Loans from Shareholders |
71.416 |
0,56 |
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Other Short-term
Payable |
0 |
0,00 |
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Advances from
Customers |
0 |
0,00 |
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Accumulated
Construction Income |
0 |
0,00 |
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Taxes Payable |
2.350 |
0,02 |
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Provisions |
0 |
0,00 |
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Other Current
Liabilities |
0 |
0,00 |
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LONG-TERM
LIABILITIES |
0 |
0,00 |
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Not Detailed
Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Securities
Issued |
0 |
0,00 |
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Long-term
Payable |
0 |
0,00 |
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Loans from
Shareholders |
0 |
0,00 |
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Other Long-term
Liabilities |
0 |
0,00 |
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Provisions |
0 |
0,00 |
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STOCKHOLDERS'
EQUITY |
53.774 |
0,42 |
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Not Detailed
Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
25.000 |
0,20 |
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Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
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Inflation
Adjustment of Capital |
0 |
0,00 |
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Equity of
Consolidated Firms |
0 |
0,00 |
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Reserves |
0 |
0,00 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated
Losses(-) |
0 |
0,00 |
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Net Profit
(loss) |
28.774 |
0,23 |
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TOTAL
LIABILITIES AND EQUITY |
127.540 |
1,00 |
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REMARKS ON
FINANCIAL STATEMENT |
: |
At the financial
statements according to TAS, "Cheques Received" and
"Outstanding Cheques" figures are under "Cash And Banks"
figure. Beginning from the financial
statements of 31.12.2011, "Cheques Received" and "Outstanding
Cheques" figures are given under "Account Receivable" figure
and "Account Payable" figure respectively. |
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(2011) TL |
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(01.01-30.06.2012)
TL |
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Net Sales |
3.994.840 |
1,00 |
2.214.940 |
1,00 |
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Cost of Goods
Sold |
3.782.476 |
0,95 |
2.169.212 |
0,98 |
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Gross Profit |
212.364 |
0,05 |
45.728 |
0,02 |
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Operating
Expenses |
183.590 |
0,05 |
41.983 |
0,02 |
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Operating Profit |
28.774 |
0,01 |
3.745 |
0,00 |
|
Other Income |
0 |
0,00 |
0 |
0,00 |
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Other Expenses |
0 |
0,00 |
0 |
0,00 |
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Financial Expenses |
0 |
0,00 |
0 |
0,00 |
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Minority
Interests |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) of
consolidated firms |
0 |
0,00 |
0 |
0,00 |
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Profit (loss)
Before Tax |
28.774 |
0,01 |
3.745 |
0,00 |
|
Tax Payable |
0 |
0,00 |
0 |
0,00 |
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Postponed Tax
Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit
(loss) |
28.774 |
0,01 |
3.745 |
0,00 |
|
|
(2011) |
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LIQUIDITY RATIOS |
|
|
Current Ratio |
1,01 |
|
Acid-Test Ratio |
0,06 |
|
Cash Ratio |
0,06 |
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ASSET STRUCTURE
RATIOS |
|
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Inventory/Total
Assets |
0,00 |
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Short-term
Receivable/Total Assets |
0,00 |
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Tangible
Assets/Total Assets |
0,42 |
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TURNOVER RATIOS |
|
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Inventory
Turnover |
|
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Stockholders'
Equity Turnover |
74,29 |
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Asset Turnover |
31,32 |
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FINANCIAL
STRUCTURE |
|
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Stockholders'
Equity/Total Assets |
0,42 |
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Current
Liabilities/Total Assets |
0,58 |
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Financial
Leverage |
0,58 |
|
Gearing
Percentage |
1,37 |
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PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,54 |
|
Operating Profit
Margin |
0,01 |
|
Net Profit
Margin |
0,01 |
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Interest Cover |
|
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COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
0,00 |
|
Average Payable
Period (days) |
0,00 |
|
WORKING CAPITAL |
526,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.