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Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ILSAN TEKSTIL SANAYI VE TICARET A.S. |
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Registered Office : |
1.Organize Sanayi Bolgesi 6. Cad. Malatya |
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Country : |
Turkey |
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Date of Incorporation : |
14.02.1996 |
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Com. Reg. No.: |
Merkez-8177 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and trader
of yarn, dyed yarn, fabric and dyed fabric |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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|
Without Financials |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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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NOTES |
: |
Address is different from the address at your inquiry. |
|
NAME |
: |
ILSAN TEKSTIL SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
1.Organize Sanayi Bolgesi 6. Cad. Malatya / Turkey |
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PHONE NUMBER |
: |
90-422-237 51 14 90-422-237 51 15 |
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FAX NUMBER |
: |
90-422-237 51 16 |
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WEB-ADDRESS |
: |
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TAX OFFICE |
: |
Beydagi |
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TAX NO |
: |
4730051811 |
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REGISTRATION NUMBER |
: |
Merkez-8177 |
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REGISTERED OFFICE |
: |
Malatya Chamber of Commerce and Industry |
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DATE ESTABLISHED |
: |
14.02.1996 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
07.03.1996/3992 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 33.900.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
ILICAK MOTORLU ARACLAR PETROL SANAYI VE TICARET LTD.STI. ILICAK OTOMOTIV TICARET VE SANAYI LTD.STI. ILICAK TURIZM INSAAT TASIMACILIK IHRACAT SANAYI VE TICARET LTD.STI. ILICAK YAPI INSAAT OTOMOTIV PETROL SANAYI VE TICARET LTD.STI. ILICAKLAR INSAAT PETROL OTOMOTIV TEKSTIL TICARET VE SANAYI LTD.STI. ILPET ILICAKLAR PETROL OTOMOTIV TICARET VE SANAYI A.S |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of yarn, dyed yarn, fabric and dyed fabric. |
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NACE CODE |
: |
DB.0.00 |
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SECTOR |
: |
Textile |
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NUMBER OF EMPLOYEES |
: |
500 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
Germany Switzerland U.S.A. Greece |
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MERCHANDISE IMPORTED |
: |
Cotton Machinery |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Bulgaria Poland Portugal |
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MERCHANDISE EXPORTED |
: |
Yarn |
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HEAD OFFICE ADDRESS |
: |
1.Organize Sanayi Bolgesi 6. Cad. Malatya / Turkey |
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BRANCHES |
: |
Head Office/Production Plant
: Organize Sanayi Bolgesi 6.
Cad. Malatya/Turkey |
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MAIN DEALING BANKS |
: |
Garanti Bankasi Malatya Branch T. Vakiflar Bankasi Malatya Branch Turk Ekonomi Bankasi Malatya 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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Profitability |
In Order Net Profitability in
2012 |
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General Financial Position |
The firm has profit but general financial position is undetermined. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-30.11.2013) |
5,80 % |
1,8999 |
2,5208 |
2,9748 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
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UK Pound |
1 |
Rs.102.17 |
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Euro |
1 |
Rs.85.19 |
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 |
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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 |
|
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 |
|
-- |
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.