MIRA INFORM REPORT
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Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TOSCELIK PROFIL VE SAC ENDUSTRISI A.S. |
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Formerly Known as: |
As Celik Endustri Urunleri Sanayi ve
Insaat Malzemeleri A.S. |
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Registered Office : |
Organize Sanayi Bolgesi Necati Ozsoy Cad. No:12 Sariseki
Iskenderun Hatay |
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Country : |
Turkey |
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Date of Incorporation : |
27.02.1992 |
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Com. Reg. No.: |
6610-7655 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and trader of industrial steel pipe and profile |
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No. of Employees : |
1.066 |
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 |
B2 |
B2 |
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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 |
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NAME |
: |
TOSCELIK PROFIL VE SAC ENDUSTRISI A.S. |
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HEAD OFFICE ADDRESS |
: |
Organize Sanayi Bolgesi Necati Ozsoy Cad. No:12 Sariseki
Iskenderun Hatay / Turkey |
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PHONE NUMBER |
: |
90-326-656 28 90 (Pbx) (Factory) |
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FAX NUMBER |
: |
90-326-656 28 95 (Factory) |
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TAX OFFICE |
: |
Asim Gunduz |
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TAX NO |
: |
0860013021 |
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REGISTRATION NUMBER |
: |
6610-7655 |
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REGISTERED OFFICE |
: |
Iskenderun Chamber of Commerce and Industry |
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DATE ESTABLISHED |
: |
27.02.1992 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
06.03.1992/2982 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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TL 277.000.000 |
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HISTORY |
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SHAREHOLDERS |
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GROUP PARENT COMPANY |
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TOSYALI HOLDING A.S. |
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SISTER COMPANIES |
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MARMARA SINAI VE TICARI YATIRIMLAR A.S. TOSCELIK GRANUL SANAYI A.S. TOSYALI DEMIR CELIK SANAYI A.S. TOSYALI DENIZCILIK VE LIMAN ISLETMECILIGI A.S. TOSYALI DIS TICARET A.S. TOSYALI ELEKTIRIK ENERJISI URETIM SANAYI VE TICARET A.S. TOSYALI ELEKTRIK ENERJISI TOPTAN SATIS ITHALAT IHRACAT A.S. TOSYALI HOLDING A.S. |
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SUBSIDIARIES |
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TOSYALI DEMIR CELIK SANAYI A.S. TOSYALI DIS TICARET A.S. |
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BOARD OF DIRECTORS |
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BUSINESS ACTIVITIES |
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Manufacture and trade of industrial steel pipe and profile. |
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NACE CODE |
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DJ.27.22 |
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TRADEMARKS OWNED |
: |
Toscelik |
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NUMBER OF EMPLOYEES |
: |
1.066 |
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NET SALES |
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IMPORT COUNTRIES |
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Romania Ukraine Russia U.K. Bulgaria U.S.A. Germany |
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MERCHANDISE IMPORTED |
: |
Rolled iron plate |
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EXPORT VALUE |
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EXPORT COUNTRIES |
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Qatar |
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MERCHANDISE EXPORTED |
: |
Industrial pipe and profile |
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HEAD OFFICE ADDRESS |
: |
Organize Sanayi Bolgesi Necati Ozsoy Cad. No:12 Sariseki
Iskenderun Hatay / Turkey |
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BRANCHES |
: |
Head Office/Factory : Organize Sanayi Bolgesi Necati Ozsoy Cad. No:12
Sariseki Iskenderun Hatay/Turkey Branch Office : Organize Sanayi Bolgesi Tuysuz Koyu
Osmaniye/Turkey |
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TREND OF BUSINESS |
: |
There was an upwards trend in
2011. |
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MAIN DEALING BANKS |
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Garanti Bankasi Iskenderun Branch T.Is Bankasi Iskenderun Branch |
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PAYMENT BEHAVIOUR |
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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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( 01.01-31.05.2013) |
0,99 % |
1,8079 |
2,3728 |
2,8064 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.70 |
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UK Pound |
1 |
Rs.91.14 |
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Euro |
1 |
Rs.77.98 |
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.