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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
3K HALI SANAYI VE TICARET A.S. |
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Registered Office : |
Tasdelen Cumhuriyet Mah. Vatan Cad. No: 1/A Cekmekoy Istanbul / Turkey |
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Country : |
Turkey |
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Date of Incorporation : |
26.11.1993 |
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Com. Reg. No.: |
306170 |
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Legal Form : |
Joint Stock Company |
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LINE OF BUSINESS : |
TRADE
OF CARPET THE SUBJECT ORDERS HAND-MADE CARPET TO BE MANUFACTURED IN THE NAME
OF THE SUBJECT COMPANY TO CONTRACT MANUFACTURERS |
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|
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Undetermined |
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Payment Behaviour : |
No complaints |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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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NAME |
: |
3K HALI SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Tasdelen Cumhuriyet Mah. Vatan Cad. No: 1/A Cekmekoy Istanbul / Turkey |
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PHONE NUMBER |
: |
90-216-312 28 22 |
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FAX NUMBER |
: |
90-216-312 28 15 |
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TAX OFFICE |
: |
Sultanbeyli |
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TAX NO |
: |
0010653248 |
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REMARKS ON TAX NO |
: |
The tax no of the firm changed from 9980086330 to 0010653248 as the
firm's legal form changed from limited company to joint stock company. |
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REGISTRATION NUMBER |
: |
306170 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
26.11.1993 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
01.12.1993/3417 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 2.250.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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||||||||||||||
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BOARD OF DIRECTORS |
: |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Trade of carpet The subject orders hand-made carpet to be manufactured
in the name of the subject company to contract manufacturers |
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NACE CODE |
: |
G .51.47 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
25 |
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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 |
: |
Iran Nepal Afghanistan China |
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MERCHANDISE IMPORTED |
: |
Hand-made carpet |
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EXPORT COUNTRIES |
: |
China India Switzerland Spain Portugal Germany Egypt Slovenia |
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MERCHANDISE EXPORTED |
: |
Carpet |
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HEAD OFFICE ADDRESS |
: |
Tasdelen Cumhuriyet Mah. Vatan Cad. No: 1/A Cekmekoy Istanbul / Turkey
( owned ) |
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BRANCHES |
: |
Head Office/Warehouse : Tasdelen Cumhuriyet Mah. Vatan Cad. No: 1/A
Cekmekoy Istanbul/Turkey (owned) Branch Office : Bagdat Cad No:88 / 1-2-3 Istanbul/Turkey
(rented) |
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INVESTMENTS |
: |
None |
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MAIN DEALING BANKS |
: |
Akbank Galata Branch Garanti Bankasi Kiziltoprak Branch T. Is Bankasi Taksim Branch Yapi ve Kredi Bankasi Ciftehavuzlar 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. |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 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 |
|
( 01.01-28.02.2013) |
-0,31 % |
1,7828 |
2,3690 |
2,8041 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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.