MIRA INFORM REPORT

 

 

Report Date :

31.12.2013

 

IDENTIFICATION DETAILS

 

Name :

RKA TICARET MUHAMMAD IMRAN

 

 

Registered Office :

Serbest Bolge Plaza Ofis No:904 Ataturk Havaalani Yesilkoy Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

26.04.2011

 

 

Com. Reg. No.:

774916

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Wholesale trade of textile products such as home textile, ready-wear and fabric.  

 

 

 

No. of Employees :

Not Available

 

 

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

 

 

Payment Behaviour :

Slow

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

 

 

COMPANY IDENTIFICATION

 

NAME

:

RKA TICARET MUHAMMAD IMRAN

HEAD OFFICE ADDRESS

:

Serbest Bolge Plaza Ofis No:904 Ataturk Havaalani Yesilkoy Istanbul / Turkey

PHONE NUMBER

:

90-212-465 44 75

90-538-835 58 03 (Contact number of Muhammad Imran)

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Liability of the subject is not limited to the capital.

 

 

TAX OFFICE

:

Bakirkoy

TAX NO

:

4650365295

REGISTRATION NUMBER

:

774916

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

26.04.2011

ESTABLISHMENT GAZETTE DATE /NO

:

02.05.2011/7806

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   5.000

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Muhammad Imran

100 %

 

 

REMARKS ON SHAREHOLDERS

:

The owner was born on 30.12.1973.  We are informed that Muhammad Imran is citizen of Pakistan. 

 

SISTER COMPANIES

:

Declared to be : None

 

DIRECTORS

:

Muhammad Imran

 

 

OPERATIONS

 

NOTES ON OPERATIONS

:

Paused active operation and started operating again..

 

 

BUSINESS ACTIVITIES

:

Wholesale trade of textile products such as home textile, ready-wear and fabric.  

 

We are informed that, the firm stopped active operation at the beginning of 2013 but re-started active operation in December 2013.

 

NACE CODE

:

G .51.41

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

0

 

REMARKS ON NUMBER OF EMPLOYEES

:

The subject has no employees; operations are carried out by the owner.

 

NET SALES

:

86.712 TL

(26.04-31.12.2011) 

69.326 TL

(2012) 

0 TL

(01.01-30.09.2013) 

 

 

REMARKS ON NET SALES

:

We are informed that the firm stopped active operation at the beginning of 2013 but re-started active operation in December 2013.

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Pakistan

India

 

MERCHANDISE IMPORTED

:

Fabric

Ready-wear

 

HEAD OFFICE ADDRESS

:

Serbest Bolge Plaza Ofis No:904 Ataturk Havaalani Yesilkoy Istanbul / Turkey

 

INVESTMENTS

:

None

 

 

TREND OF BUSINESS

:

The subject stopped active operation but re-started active operation in December 2013.

 

FINANCE

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(26.04-31.12.2011) TL

(2012) TL

(01.01-30.09.2013) TL

Net Sales

86.712

69.326

0

Profit (Loss) Before Tax

5.570

1.083

-12.733

Gross Profit (loss)

21.443

69.326

0

Operating Profit (loss)

5.570

1.083

-12.733

Net Profit (loss)

5.570

1.083

-12.733

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

General Financial Position

The subject which had low profitability in 2012 had loss between 1.1.-30.09.2013 as it had no sales.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-30.09.2013)

4,43 %

1,8785

2,4774

2,9189

 ( 01.01-31.10.2013)

5,15 %

1,8889

2,4999

2,9446

 ( 01.01-30.11.2013)

5,80 %

1,8999

2,5208

2,9748

 

 

INCOME STATEMENTS

 

 

(26.04-31.12.2011) TL

 

(2012) TL

 

(01.01-30.09.2013) TL

 

Net Sales

86.712

1,00

69.326

1,00

0

0,00

Cost of Goods Sold

65.269

0,75

0

0,00

0

0,00

Gross Profit

21.443

0,25

69.326

1,00

0

0,00

Operating Expenses

15.873

0,18

68.243

0,98

12.733

0,00

Operating Profit

5.570

0,06

1.083

0,02

-12.733

0,00

Other Income

0

0,00

0

0,00

0

0,00

Other Expenses

0

0,00

0

0,00

0

0,00

Financial Expenses

0

0,00

0

0,00

0

0,00

Minority Interests

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

5.570

0,06

1.083

0,02

-12.733

0,00

Tax Payable

0

0,00

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

5.570

0,06

1.083

0,02

-12.733

0,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.00

UK Pound

1

Rs.102.17

Euro

1

Rs.85.19

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.