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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
EMSLAND NISASTA VE KIMYA SANAYI TICARET A.S. |
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Formerly Known as: |
Farin Internasyonal Kimya Sanayi ve Ticaret
A.S. |
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Registered Office : |
Kemalpasa Yolu Uzeri 3. Km Kiziluzum Koyu Mevkii Kemalpasa Izmir |
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Country : |
Turkey |
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Date of Incorporation : |
11.07.2005 |
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Com. Reg. No.: |
120546-MRKZ-9971 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
subject deals with trade of starch, also
preparation and packaging of starch mixtures for food, textile, glue and
paper industry |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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.
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Source : CIA |
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NAME |
: |
EMSLAND NISASTA VE KIMYA SANAYI TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Kemalpasa Yolu Uzeri 3. Km Kiziluzum Koyu Mevkii Kemalpasa Izmir /
Turkey |
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PHONE NUMBER |
: |
90-232-877 14 15 |
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FAX NUMBER |
: |
90-232-877 14 16 |
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NOTES
ON LEGAL STATUS AND HISTORY |
: |
The
paid-in capital is declared by the subject. There is no certification for the
paid-in capital. |
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TAX OFFICE |
: |
Kemalpasa |
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TAX NO |
: |
3850450029 |
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REGISTRATION NUMBER |
: |
120546-MRKZ-9971 |
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REGISTERED OFFICE |
: |
Izmir Chamber of Commerce |
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DATE ESTABLISHED |
: |
11.07.2005 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
15.07.2005/6347 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 74.620.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
We are informed that the shareholder "Emsland Starke GmbH"
is a foreign company located in Germany. |
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SUBSIDIARIES |
: |
Declared to be : None |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
The subject deals with trade of starch, also preparation and packaging
of starch mixtures for food, textile, glue and paper industry. |
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NACE CODE |
: |
DA.15.62 |
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NUMBER OF EMPLOYEES |
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35 |
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NET SALES |
: |
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REMARKS ON NET SALES |
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The sales figure of 01.07.2011-30.06.2012 is declared by the company.
There is no certification for this figure. The financial period of the firm is from the 1st of July to the 30th
of June. |
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IMPORT COUNTRIES |
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Germany Singapore U.S.A. Netherlands India Switzerland Brazil |
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MERCHANDISE IMPORTED |
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Starch |
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EXPORT COUNTRIES |
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Egypt Iran Tunisia Saudi Arabia Lebanon Croatia Turkmenistan Bulgaria Romania Free Zone Morocco Syria |
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MERCHANDISE EXPORTED |
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Dextrin Protein concentrations Starch |
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HEAD OFFICE ADDRESS |
: |
Kemalpasa Yolu Uzeri 3. Km Kiziluzum Koyu Mevkii Kemalpasa Izmir /
Turkey ( owned ) |
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BRANCHES |
: |
Head Office/Processing Plant
: Kemalpasa Yolu Uzeri 3. Km
Kiziluzum Koyu Mevkii Kemalpasa Izmir/Turkey (owned) |
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MAIN DEALING BANKS |
: |
Akbank Izmir Ticari Branch Asya Katilim Bankasi Karabaglar Branch Garanti Bankasi Izmir Ticari Branch HSBC Bank Bornova Branch T. Is Bankasi Bornova 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. |
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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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( 01.01-31.03.2013) |
0,50 % |
1,7901 |
2,3575 |
2,7927 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
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UK Pound |
1 |
Rs.83.70 |
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Euro |
1 |
Rs.71.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.