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Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KORUMA KLOR ALKALI SANAYI VE TICARET
A.S. |
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|
|
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Registered Office : |
Deniz Mah. Petrol Ofisi Cad. No:43 Derince Kocaeli |
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|
|
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Country : |
Turkey |
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|
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Financials (as on) : |
2012 |
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Date of Incorporation : |
11.10.1994 |
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Com. Reg. No.: |
419-16420-Derince |
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacture and trade of chemicals such as sodium hydroxide, acetic
acid, sodium carbonate, hydrochloric acid etc. and insecticides |
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|
|
|
No. of Employees : |
366 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
No Complaints |
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|
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 9.2% in 2010, as exports returned to normal levels following the
recession. Growth dropped to approximately 3% in 2012. Turkey's public sector
debt to GDP ratio has fallen to about 40%, and at least one rating agency
upgraded Turkey's debt to investment grade in 2012. Turkey remains dependent on
often volatile, short-term investment to finance its large trade deficit. The
stock value of FDI stood at $117 billion at year-end 2012. Inflows have slowed
because of continuing economic turmoil in Europe, the source of much of
Turkey's FDI. 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 |
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NOTES |
: |
Address at your inquiry is the former address. |
|
NAME |
: |
KORUMA KLOR ALKALI SANAYI VE TICARET A.S. |
|
HEAD OFFICE ADDRESS |
: |
Deniz Mah. Petrol Ofisi Cad. No:43 Derince Kocaeli / Turkey |
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PHONE NUMBER |
: |
90-262-239 22 70 (3 Lines) |
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FAX NUMBER |
: |
90-262-239 22 78 |
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E-MAIL |
: |
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TAX OFFICE |
: |
Derince |
||||||||||||||||||||
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TAX NO |
: |
5640007582 |
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REGISTRATION NUMBER |
: |
419-16420-Derince |
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REGISTERED OFFICE |
: |
Izmit Chamber of Commerce |
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DATE ESTABLISHED |
: |
11.10.1994 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
20.10.1994/3642 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 31.380.750 |
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PAID-IN CAPITAL |
: |
TL 31.380.750 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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GROUP |
: |
KORUMA GROUP OF COMPANIES |
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SISTER COMPANIES |
: |
AR NAK METAL VE KIMYA SANAYII TICARET LTD. STI. IZMIT SAKARYA NAKLIYAT KIMYA GIDA VE HAYVANCILIK SANAYI TICARET LTD.
STI. KORUMA INSAAT TICARET A.S. KORUMA TARIM A.S. KORUMA TEMIZLIK A.S. VEFA TARIM ILACLARI KIMYA VE GIDA SANAYI TICARET A.S. |
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SUBSIDIARIES |
: |
Declared to be: None |
||||||||||||||
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of chemicals such as sodium hydroxide, acetic
acid, sodium carbonate, hydrochloric acid etc. and insecticides. |
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NACE CODE |
: |
DG.24.14 |
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SECTOR |
: |
Chemicals |
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NUMBER OF EMPLOYEES |
: |
366 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
Russia China U.K. Italy Egypt |
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MERCHANDISE IMPORTED |
: |
Chemicals |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
India Georgia Hong-Kong Azerbaijan Iraq Syria Lebanon Northern Cyprus Turkish Republic Spain Italy Bulgaria Egypt Canada |
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MERCHANDISE EXPORTED |
: |
Agricultural pesticide Chemicals Chlorine Hydrochloric acid Hypochlorite Insecticides Mercury Sodium hydroxide |
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HEAD OFFICE ADDRESS |
: |
Deniz Mah. Petrol Ofisi Cad. No:43 Derince Kocaeli / Turkey ( owned ) |
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BRANCHES |
: |
Factory : Hassa Yolu Uzeri Alabeyli Mevkii Kirikhan
Hatay/Turkey (owned) Factory : Demokrasi Mah. Ataturk Cad. No:237 Kocabas
Beldesi Honaz Denizli/Turkey Head Office/Factory : Deniz Mah. Petrol Ofisi Cad. No:43 Derince
Kocaeli/Turkey (owned) Branch Office : Antalya/Turkey (owned) Branch Office : Izmir/Turkey (owned) Branch Office : Adana/Turkey (rented) Branch Office : Ankara/Turkey (rented) Branch Office : Bursa/Turkey (rented) Branch Office : Diyarbakir/Turkey (rented) Branch Office : Samsun/Turkey (rented) Branch Office/Warehouse : Corlu Tekirdag/Turkey (rented) |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2012. |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
: |
Akbank Izmit Ticari Branch Garanti Bankasi Izmit Merkez Branch T. Is Bankasi Gebze Kurumsal Branch T.C. Ziraat Bankasi Izmit Merkez Branch |
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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 |
: |
Some of the key financial figures of 2011 are declared by the subject.
There is no certification for these figures. |
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Capitalization |
Fair As of 31.12.2011 |
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Liquidity |
Good As of 31.12.2011 |
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Remarks On Liquidity |
Current ratio is 1,60 |
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Profitability |
High Operating Profitability in
2008 Fair Net Profitability in 2008 In Order Operating Profitability
in 2009 Net Loss in 2009 High Operating Profitability in
2010 High Net Profitability in 2010 Good Net Profitability in 2011 High Operating Profitability in
2012 High Net Profitability in 2012 |
|
General Financial Position |
Fair |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-31.03.2013) |
0,50 % |
1,7901 |
2,3575 |
2,7927 |
|
|
(2012) TL |
|
|
Net Sales |
296.131.127 |
1,00 |
|
Cost of Goods Sold |
227.465.486 |
0,77 |
|
Gross Profit |
68.665.641 |
0,23 |
|
Operating Expenses |
31.265.763 |
0,11 |
|
Operating Profit |
37.399.878 |
0,13 |
|
Other Income |
17.271.982 |
0,06 |
|
Other Expenses |
14.708.939 |
0,05 |
|
Financial Expenses |
11.136.588 |
0,04 |
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Minority Interests |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
|
Profit (loss) Before Tax |
28.826.333 |
0,10 |
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Tax Payable |
0 |
0,00 |
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Postponed Tax Gain |
0 |
0,00 |
|
Net Profit (loss) |
28.826.333 |
0,10 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.