MIRA INFORM REPORT

 

 

Report Date :

04.02.2013

 

IDENTIFICATION DETAILS

 

Name :

SUPHI AKCALI

 

 

Registered Office :

Ataturk Cad. No:543 Karaagac Iskenderun Hatay

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

02.03.2009

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Implementation and trade of granite and marble.

 

 

No. of Employees :

4

 

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 :

No Complaints

 

 

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

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Turkey

B1

B1

 

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 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.

 

Source : CIA

 

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

SUPHI AKCALI

HEAD OFFICE ADDRESS

:

Ataturk Cad. No:543 Karaagac Iskenderun Hatay / Turkey

PHONE NUMBER

:

90-326-641 64 11

 

FAX NUMBER

:

90-326-641 64 11

 

 

 

LEGAL STATUS AND HISTORY

 

 

NOTES ON LEGAL STATUS AND HISTORY

:

As the subject is not obliged to be registered at commercial registry due to its legal form, it has not registered at Commercial Registry.

 

Liability of the subject is not limited to the capital.

 

TAX OFFICE

:

Akdeniz

TAX NO

:

12926270368

DATE ESTABLISHED

:

02.03.2009

REMARKS ON DATE ESTABLISHED

:

The subject sole-proprietorship is declared to be established on 02.03.2009.

 

 

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Suphi Akcali

100 %

 

 

PROPERTIES OWNED BY THE OWNER/PARTNERS

:

 

Property Type

A flat

The head office of the subject company

A villa

DIRECTORS

:

Suphi Akcali

 

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Implementation and trade of granite and marble.

 

NACE CODE

:

G .52.48

 

NUMBER OF EMPLOYEES

:

4

 

NET SALES

:

84.013 TL

(2011) 

92.371 TL

(01.01-30.09.2012) 

 

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Spain

 

MERCHANDISE IMPORTED

:

Granite

 

EXPORT VALUE

:

0 TL

(2011)

0 TL

(2012)

 

 

HEAD OFFICE ADDRESS

:

Ataturk Cad. No:543 Karaagac Iskenderun Hatay / Turkey ( owned )

 

 

 

TREND OF BUSINESS

:

There appears an upwards trend in  1.1 - 30.9.2012.

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Garanti Bankasi Iskenderun Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2011) TL

(01.01-30.09.2012) TL

 

 

 

Net Sales

84.013

92.371

 

 

 

Profit (Loss) Before Tax

12.050

2.009

 

 

 

Gross Profit (loss)

49.991

30.530

 

 

 

Operating Profit (loss)

12.050

2.009

 

 

 

Net Profit (loss)

12.050

2.009

 

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

 

General Financial Position

The firm is profitable and the owner/partners possess property.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.09.2012)

3,34 %

1,8029

2,3233

2,8527

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 

 

INCOME STATEMENTS

 

 

(2011) TL

 

(01.01-30.09.2012) TL

 

Net Sales

84.013

1,00

92.371

1,00

Cost of Goods Sold

34.022

0,40

61.841

0,67

Gross Profit

49.991

0,60

30.530

0,33

Operating Expenses

37.941

0,45

28.521

0,31

Operating Profit

12.050

0,14

2.009

0,02

Other Income

0

0,00

0

0,00

Other Expenses

0

0,00

0

0,00

Financial Expenses

0

0,00

0

0,00

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

12.050

0,14

2.009

0,02

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

12.050

0,14

2.009

0,02

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.32

UK Pound

1

Rs.84.60

Euro

1

Rs.72.63

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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%)

 

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