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Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
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Name : |
BIOFARMA ILAC SANAYI VE TICARET A.S. |
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Formerly Known as: |
Biofarma Ilac Sanayi Ltd. Sti. |
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Registered Office : |
Sancaktepe Akpinar Mah. Osmangazi Cad. No:156 Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
07.01.1953 |
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Com. Reg. No.: |
47638 |
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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 : |
600 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
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NOTES |
: |
Address at your inquiry was changed by the authority/municipality. |
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NAME |
: |
BIOFARMA ILAC SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Sancaktepe Akpinar Mah. Osmangazi Cad. No:156 Istanbul / Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
The address was changed from “Fatih Cad. No:17” to “Osmangazi Cad.
No:156” by the Municipality. |
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PHONE NUMBER |
: |
90-216-398 10 63 |
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FAX NUMBER |
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90-216-398 10 20 90-216-398 78 35 |
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WEB-ADDRESS |
: |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
1760041077 |
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REGISTRATION NUMBER |
: |
47638 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
07.01.1953 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 115.987.750 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
We are informed that “Isanne S.a.r.l.” is a foreign company located at
Luxembourg. |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine.
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NACE CODE |
: |
DF.24.42 |
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SECTOR |
: |
Chemicals |
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TRADEMARKS OWNED |
: |
Allarin Canolen Fluzole Fulsac Gelocaps Katarin Mukoral Relaxol Ressital Synergon Uterjin |
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NUMBER OF EMPLOYEES |
: |
600 |
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NET SALES |
: |
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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 fresh 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 |
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Netherlands China India Germany Switzerland Italy |
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MERCHANDISE IMPORTED |
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Raw materials |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
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Croatia Serbia Spain Switzerland India Iraq Algeria Bosnia and Herzegovina Turkmenistan Kazakhstan Czech Republic Portugal Greece |
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MERCHANDISE EXPORTED |
: |
Medicine |
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HEAD OFFICE ADDRESS |
: |
Sancaktepe Akpinar Mah. Osmangazi Cad. No:156 Istanbul / Turkey |
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BRANCHES |
: |
Regional Directorate : Ornektepe Mah. Ornektepe Cad. Dolunay Is Merkezi No:165 D:5 Sutluce Istanbul/Turkey Regional Directorate : Kahramanciftlik Cad. G / 58 Sok. No:2 Kat :
1/2 Icerenkoy Kadikoy
Istanbul/Turkey Regional Directorate : Akpinar Mah. Denizevler Kavakli Cad. No:29
Osmangazi Bursa/Turkey Regional Directorate : Suleyman
Demirel Bulvari Huzurevleri Mah.
162 Sok. Ferhat Ozkan Apt. Asma
Kat Seyhan Adana/Turkey Regional Directorate : Yatik Musluk Mh. Aslan Agzi Sk.
No:3/4 Gulveren Ankara/Turkey Regional Directorate : 2 Nolu Besirli Mah. Esref Bitlis Cad. Osa
Apt. No:2 D:3 Trabzon/Turkey Regional Directorate : Uluc Mah.
1151 Sokak Cetin Is Merkezi No:2 D:6 Konyaalti Antalya/Turkey Regional Directorate : Yeni Kale Mah.Zafer Sok. No.7 Narlidere
Izmir/Turkey Regional Directorate : Guzelyali Mah. 32 Sok. No:3 Kat:3 Atakent
Samsun/Turkey Regional Directorate : Tekel Cad. Hayat 2 Sitesi A-Blok K:1 No:1-2
Diclekent Diyarbakir/Turkey Regional Directorate : Cevre Yolu Uzeri Adliye Kavsagi Matim
Is Merkezi A Blok D:36 Kat : 7
P.K. 44200 Malatya/Turkey Head Office/Factory : Sancaktepe Akpinar Mah. Osmangazi Cad.
No:156 Istanbul/Turkey (15.000 sqm) |
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INVESTMENTS |
: |
Investments are going on. |
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MAIN DEALING BANKS |
: |
Akbank Kozyatagi Kurumsal Branch Garanti Bankasi Sultanbeyli Branch HSBC Bank Kozyatagi Branch T.Is Bankasi Kartal Ticari Branch Yapi ve Kredi Bankasi Kartal 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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( 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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( 01.01-28.02.2013) |
-0,31 % |
1,7828 |
2,3690 |
2,8041 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
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UK Pound |
1 |
Rs.81.57 |
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Euro |
1 |
Rs.71.24 |
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 |
---- |
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.