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Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ERISLER GIDA SANAYI VE TICARET A.S. |
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Registered Office : |
Mimarsinan, Eski Silivri Yolu Caddesi No:58 1/1 Buyukcekmece Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
05.03.1976 |
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Com. Reg. No.: |
432142 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of wheat flour. |
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No. of Employees : |
390 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Turkey |
B2 |
B2 |
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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 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
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Source : CIA |
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NAME |
: |
ERISLER GIDA SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Mimarsinan, Eski Silivri Yolu Caddesi No:58 1/1 Buyukcekmece Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-861 45 55 |
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FAX NUMBER |
: |
90-212-861 45 61 |
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WEB-ADDRESS |
: |
www.erisflourmills.com |
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NOTES ON
LEGAL STATUS AND HISTORY |
: |
Change at
registration no . The paid-in
capital is declared by the subject. There is no certification for the paid-in
capital.. |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
3600018164 |
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REGISTRATION NUMBER |
: |
432142 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
05.03.1976 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
18.03.1976/343 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 69.200.000 |
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PAID-IN CAPITAL |
: |
TL 69.200.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
SOMUN PETROL URUNLERI OTOMOTIV NAKLIYAT
TARIM URUNLERI VE TURIZM TICARET LTD. STI. |
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SUBSIDIARIES |
: |
MORAL GIDA SANAYI VE TICARET LTD. STI.
( 97,50 % ) |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of wheat flour. |
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NACE CODE |
: |
DA.15.61 |
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TRADEMARKS OWNED |
: |
Beylik Un Eris Un Ozde Un Tabi & Ekinoks |
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NUMBER OF EMPLOYEES |
: |
390 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The a.m. sales figures are declared by the subject. There is no
certification for these figures. |
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CAPACITY |
: |
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IMPORT COUNTRIES |
: |
Russia Kazakhstan Ukraine Bulgaria Romania |
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MERCHANDISE IMPORTED |
: |
Raw materials |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Guinea Gambia Chad Sudan Libya Middle East Countries Tonga Egypt Hong-Kong South Korea Philippines Indonesia Thailand Yemen U.A.E. Dominican Republic Haiti Costa Rica |
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MERCHANDISE EXPORTED |
: |
Flour |
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HEAD OFFICE ADDRESS |
: |
Mimarsinan, Eski Silivri Yolu Caddesi No:58 1/1 Buyukcekmece Istanbul / Turkey ( owned ) |
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BRANCHES |
: |
Warehouse : Catalca Istanbul/Turkey (owned) Factory : Buyukcekmece Istanbul/Turkey (owned) (9.000
sqm) Factory : Ortakoy Silivri Istanbul/Turkey (owned) Head Office/Factory : Mimarsinan, Eski Silivri Yolu Caddesi No:58
1/1 Buyukcekmece Istanbul/Turkey (owned) (6.000 sqm) |
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TREND OF BUSINESS |
: |
There was an upwards trend in
2012. There appears a decline at business volume in nominal terms
in 1.1 - 30.6.2013. |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
: |
T. Finans Katilim Bankasi Hadimkoy Yolu 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 |
: |
The a.m. key financial figures are declared by the subject. There is no
certification for these figures. |
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Capitalization |
Insufficient As of 31.12.2012 |
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Profitability |
Net Loss in 2010 Low Net Profitability in 2011 Low Net Profitability in 2012 |
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General Financial Position |
Unsatisfactory |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
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( 01.01-30.06.2013) |
2,46 % |
1,8251 |
2,3936 |
2,8262 |
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( 01.01-31.10.2013) |
5,15 % |
1,8889 |
2,4999 |
2,9446 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.102.05 |
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Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.