|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACARLAR AYAKKABICILIK IC VE DIS TICARET LTD.
STI. |
|
|
|
|
Registered Office : |
Cobancesme Sanayi Cad. Acar Sanayi Sitesi 1. Blok No:70 Kat:2
Yenibosna Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Date of Incorporation : |
08.01.2007 |
|
|
|
|
Com. Reg. No.: |
610985 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and trader of footwear |
|
|
|
|
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 : |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
|
NAME |
: |
ACARLAR AYAKKABICILIK IC VE DIS TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Cobancesme Sanayi Cad. Acar Sanayi Sitesi 1. Blok No:70 Kat:2
Yenibosna Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-551 28 27 |
|
FAX NUMBER |
: |
90-212-552 94 16 |
|
E-MAIL |
: |
|
TAX OFFICE |
: |
Yenibosna |
|
TAX NO |
: |
0040484875 |
|
REGISTRATION NUMBER |
: |
610985 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
08.01.2007 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
12.01.2007/6722 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 2.000.000 |
|
SHAREHOLDERS |
: |
|
||||||||
|
SISTER COMPANIES |
: |
UFUK AYAKKABI VE TERLIK IC VE DIS TICARET SANAYI LTD. STI. (Not
Active) |
||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of footwear. |
|
NACE CODE |
: |
DC.19.30 |
|
REMARKS ON NET SALES |
: |
In Turkey, there is no public registry on companies’ financial and detailed
general data. So, to collect a firm’s data, an information agency has to
contact the company and get its authorization. However the company strictly declines to give us an authorization to
gather its financial data. As the firm’s shares are not open to public it is
not obliged to announce its data. |
|
EXPORT COUNTRIES |
: |
Cyprus Egypt |
|
MERCHANDISE EXPORTED |
: |
Footwear |
|
HEAD OFFICE ADDRESS |
: |
Cobancesme Sanayi Cad. Acar Sanayi Sitesi 1. Blok No:70 Kat:2 Yenibosna
Istanbul / Turkey |
|
BRANCHES |
: |
Head Office/Production Plant
: Cobancesme Sanayi Cad. Acar
Sanayi Sitesi 1. Blok No:70 Kat:2 Yenibosna Istanbul/Turkey (owned) |
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
|
General Financial Position |
General financial position is undetermined the firm declines to give
us an authorization to gather its financial data. As the shares of the firm are
not open to public, it is not obliged to announce its data. |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-31.05.2013) |
0,99 % |
1,8079 |
2,3728 |
2,8064 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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 |
|
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.