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Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ARMADA GRUP MAKINE SANAYI VE TICARET LTD. STI. |
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Registered Office : |
Uskumrukoy Zekeriyakoy Yolu Aralik Sokak No:13 Sariyer Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
11.04.2008 |
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Com. Reg. No.: |
662591 |
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Legal Form : |
Limited Company |
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Line of Business : |
Installation of industrial machinery |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Turkey |
B1 |
B1 |
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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 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
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NOTES |
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The shareholders/partners/owner/representatives can not be found. We are unable to interview the firm through its registered contact
information. |
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NAME |
: |
ARMADA GRUP MAKINE SANAYI VE TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Uskumrukoy Zekeriyakoy Yolu Aralik Sokak No:13 Sariyer Istanbul /
Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
We are unable to interview the subject company. The phone and fax
numbers and other related sources are not available to contact with the firm. |
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REGISTRATION NUMBER |
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662591 |
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REGISTERED OFFICE |
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Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
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11.04.2008 |
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ESTABLISHMENT GAZETTE DATE/NO |
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17.04.2008/7044 |
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LEGAL FORM |
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Limited Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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TL 200.000 |
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HISTORY |
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PREVIOUS SHAREHOLDERS |
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SHAREHOLDERS |
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DIRECTORS |
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BUSINESS ACTIVITIES |
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According to Commercial Registry the business line of the firm is
installation of industrial machinery. But we have no information about the current
activity of the firm. We are unable to interview the subject company as the
phone numbers of the firm or the shareholders are not listed at any
directories. |
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NACE CODE |
: |
DK.29.00 |
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HEAD OFFICE ADDRESS |
: |
Uskumrukoy Zekeriyakoy Yolu Aralik Sokak No:13 Sariyer Istanbul /
Turkey |
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BRANCHES |
: |
Registered Head Office : Uskumrukoy Zekeriyakoy Yolu Aralik Sokak
No:13 Sariyer Istanbul/Turkey |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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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 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.63 |
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1 |
Rs.88.17 |
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Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.