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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SANDOZ ILAC SANAYI VE TICARET A.S. |
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Formerly Known As : |
Ilsan Ilac Sanayi ve Ticaret A.S. |
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Registered Office : |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
22.08.1964 |
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Com. Reg. No.: |
87638 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of medicine |
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No. of Employees : |
969 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source : CIA |
NOTES |
: |
Address at your inquiry is not the registered head office but another
premise. |
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NAME |
: |
SANDOZ ILAC SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul /
Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
The district name was changed from "Kadikoy" to
"Atasehir" by the municipality. |
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PHONE NUMBER |
: |
90-216-458 33 00 90-216-570 95 01 90-262-751 31 01 |
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FAX NUMBER |
: |
90-262-751 30 36 |
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WEB-ADDRESS |
: |
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NOTES ON LEGAL STATUS AND HISTORY |
: |
The paid-in capital is declared by the
subject. There is no certification for the paid-in capital. |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
4730035262 |
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REGISTRATION NUMBER |
: |
87638 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
22.08.1964 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 120.000.000,19 |
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PAID-IN CAPITAL |
: |
TL 120.000.000,19 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
The firm has 80 shareholders.
We are informed that, the main shareholder "Novartis Pharma
A.G." is a foreign company located in Switzerland. |
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SISTER COMPANIES |
: |
ILTAS ILAC SANAYI VE TICARET A.S. SANDOZ SYNTEK ILAC HAMMADDELERI SANAYI VE TICARET A.S. |
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SUBSIDIARIES |
: |
Declared to be: None |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine. |
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NACE CODE |
: |
DG.24.40 |
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SECTOR |
: |
Chemicals |
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NUMBER OF EMPLOYEES |
: |
969 |
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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. |
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IMPORT COUNTRIES |
: |
European Countries China |
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MERCHANDISE IMPORTED |
: |
Medicine Raw materials for medicine |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Australia Austria Belgium Brazil Canada Czech Republic Denmark Germany India Indonesia Italy Japan Lithuania Netherlands Portugal Spain Switzerland Egypt |
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MERCHANDISE EXPORTED |
: |
Medicine |
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HEAD OFFICE ADDRESS |
: |
Kucukbakkalkoy Mah. Sehit Sakir Elkovan Cad. No:2 Atasehir Istanbul /
Turkey |
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BRANCHES |
: |
Factory : Gebze Plastikciler Organize Sanayi Bolgesi
Ataturk Bulvari 9. Cad. No: 1 Gebze Kocaeli/Turkey (owned) |
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MAIN DEALING BANKS |
: |
Turk Ekonomi Bankasi Kadikoy Branch Yapi Kredi Bankasi Harbiye Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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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. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2001 ) |
88,60 % |
1,1991 |
1,0714 |
1,7300 |
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( 2002 ) |
30,80 % |
1,5168 |
1,3741 |
2,2001 |
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( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
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( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
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( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
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( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
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( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
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( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
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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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( 01.01-30.11.2012) |
2,58 % |
1,8006 |
2,3240 |
2,8569 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.35 |
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UK Pound |
1 |
Rs.92.11 |
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Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.