|
Report Date : |
12.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
I.E.ULAGAY ILAC SANAYII TURK A.S. |
|
|
|
|
Formerly Known As : |
DR. IBRAHIM ETEM ULAGAY ILAC SANAYII TURK A.S. |
|
|
|
|
Registered Office : |
Davutpasa Cad. No: 12 Topkapi Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Date of Incorporation : |
04.07.1952 |
|
|
|
|
Com. Reg. No.: |
46536 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and trade of medicine |
|
|
|
|
No. of Employees : |
948 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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
|
|
||
|
NAME |
: |
I.E.ULAGAY ILAC SANAYII TURK A.S. |
|
HEAD OFFICE ADDRESS |
: |
Davutpasa Cad. No: 12 Topkapi Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-467 11 11 |
|
FAX NUMBER |
: |
90-212-467 12 12 |
|
WEB-ADDRESS |
: |
www.ieulagay.com.tr |
|
|
||
|
NOTES ON
LEGAL STATUS AND HISTORY |
: |
The paid-in
capital is declared by the subject. There is no certification for the paid-in
capital. |
|
TAX OFFICE |
: |
Buyuk Mukellefler |
|
TAX NO |
: |
4690004847 |
|
REGISTRATION NUMBER |
: |
46536 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
04.07.1952 |
|
LEGAL FORM |
: |
Joint Stock Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 9.000.000 |
|
PAID-IN CAPITAL |
: |
TL 9.000.000 |
|
HISTORY |
: |
|
|
|
||||||||||||||
|
SHAREHOLDERS |
: |
|
||||||||||||
|
SUBSIDIARIES |
: |
I.E.VETERINER ILAC SANAYII VE TICARET A.S. OGUZLAR ILAC SANAYI VE TICARET A.S. UFSA ILAC SANAYI VE TICARET A.S. ULAGAYLAR ILAC SANAYI VE TICARET A.S. |
||||||||||||
|
BOARD OF DIRECTORS |
: |
|
||||||||||||
|
DIRECTORS |
: |
|
||||||||||||
|
|
||||||||||||||||
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine.
|
||||||||||||||
|
NACE CODE |
: |
DG.24.42 |
||||||||||||||
|
SECTOR |
: |
Chemicals |
||||||||||||||
|
TRADEMARKS OWNED |
: |
Arveles Cyladol Hipersar Migrex Vasoxen Zoprotec Zostex |
||||||||||||||
|
NUMBER OF EMPLOYEES |
: |
948 |
||||||||||||||
|
NET SALES |
: |
|
||||||||||||||
|
REMARKS ON NET SALES |
: |
The net sales figure of 01.01.-30.09.2012 is declared by the company.
There is no certification for this figure. |
||||||||||||||
|
IMPORT COUNTRIES |
: |
Germany India Italy China |
||||||||||||||
|
MERCHANDISE IMPORTED |
: |
Raw materials of medicine |
||||||||||||||
|
EXPORT COUNTRIES |
: |
Lebanon Northern Cyprus Turkish Republic France India Italy Turkish Republics |
||||||||||||||
|
MERCHANDISE EXPORTED |
: |
Chemicals |
||||||||||||||
|
HEAD OFFICE ADDRESS |
: |
Davutpasa Cad. No: 12 Topkapi Istanbul / Turkey ( owned ) |
||||||||||||||
|
BRANCHES |
: |
Warehouse : Hastane Mah. Hadimkoy Nakkas Yolu Cad.
No:23 Arnavutkoy Istanbul/Turkey (rented) Head Office/Factory : Davutpasa Cad. No: 12 Topkapi
Istanbul/Turkey (owned) (20.000 sqm) Administrative Office : Ulucanlar Cad. Temel Ishani No:88 Cebeci
Ankara/Turkey (rented) |
||||||||||||||
|
TREND OF BUSINESS |
: |
There was a decline at business volume in nominal terms in 2011. There appears a decline at business
volume in nominal terms in 1.1 -
30.9.2012. |
|
SIZE OF BUSINESS |
: |
Giant |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
MAIN DEALING BANKS |
: |
Akbank Bahcekapi Branch ING Bank Gunesli Branch T.C. Ziraat Bankasi Bayrampasa Branch Turk Ekonomi Bankasi Bakirkoy Branch Yapi ve Kredi Bankasi Topkapi Branch |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
KEY FINANCIAL ELEMENTS |
: |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The key financial figures of 01.01.-30.09.2012 are declared by the
subject company.There is no certification for these figures. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Capitalization |
Low As of 30.09.2012 |
|
Liquidity |
Good As of 30.09.2012 |
|
Remarks On Liquidity |
Current ratio is 1,85 |
|
Profitability |
Low Net Profitability in 2008 Good Net Profitability in 2009 High Net Profitability in 2010 Net Loss in 2011 Low Net Profitability (01.01-30.09.2012) |
|
General Financial Position |
Unsatisfactory |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8029 |
2,3233 |
2,8527 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-31.01.2013) |
-0,18 % |
1,7748 |
2,3734 |
2,8382 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.68 |
|
|
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.71.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.