MIRA INFORM REPORT
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Report Date : |
13.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AKDENIZ KIMYA SANAYI VE TICARET A.S. |
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Registered Office : |
Ataturk Mah. No:45 Ulucak Koyu Kirovasi Mevkii Kemalpasa
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Country : |
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Date of Incorporation : |
1976 |
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Com. Reg. No.: |
110 K-818 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of chemical materials to be used at PVC sector. |
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No. of Employees : |
420 |
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.
Source
: CIA
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NAME |
: |
AKDENIZ KIMYA SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Ataturk Mah. No:45 Ulucak Koyu Kirovasi Mevkii Kemalpasa Izmir / Turkey |
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PHONE NUMBER |
: |
90-232-877 01 44 |
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FAX NUMBER |
: |
90-232-877 01 50 |
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TAX OFFICE |
: |
Hasan Tahsin |
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TAX NO |
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0210050682 |
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REGISTRATION NUMBER |
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110 K-818 |
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REGISTERED OFFICE |
: |
Izmir Chamber of Commerce |
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DATE ESTABLISHED |
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1976 |
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LEGAL FORM |
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Joint Stock Company |
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REGISTERED CAPITAL |
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TL 25.000.000 |
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HISTORY |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
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OYAK-Ordu Yardimlasma Kurumu which is Armed Forces Pension Fund, is
one of the most reputable enterprises of Turkey. |
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GROUP |
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OYAK GROUP OF COMPANIES |
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SISTER COMPANIES |
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ADANA CIMENTO SANAYII TURK A.S. AKDENIZ KIMYASAL URUNLER PAZARLAMA IC VE DIS TICARET A.S. ASLAN BETON A.S. ASLAN CIMENTO A.S. ASLAN SAGLIK EGITIM VE KULTUR VAKFI ATAER HOLDING A.S. AYAS ENERJI URETIM VE TICARET A.S. BIRTAS BIRLIK INSAAT SANAYI VE TICARET A.S. BOLU CIMENTO SANAYII A.S. ERDEMIR CELIK SERVIS MERKEZI SANAYI VE TICARET A.S. ERDEMIR MADENCILIK SANAYI VE TICARET A.S. ERDEMIR ROMANIA SRL EREGLI DEMIR VE CELIK FABRIKALARI T.A.S. HEKTAS TICARET TURK A.S. ISKENDERUN DEMIR CELIK A.S. ISKENDERUN ENERJI URETIM VE TICARET A.S. MAIS MOTORLU ARACLAR IMAL VE SATIS A.S. MARDIN CIMENTO SANAYI VE TICARET A.S. OMSAN DENIZCILIK A.S. OMSAN HAVACILIK A.S. OMSAN LOJISTIK A.S. ORFIN FINANSMAN A.S. OYAK ANKER BANK GMBH OYAK BETON SANAYI VE TICARET A.S. OYAK BIRLESIK ENERJI A.S. OYAK ELEKTRIK ENERJISI TOPTAN SATIS A.S. OYAK GIRISIM DANISMANLIGI A.S. OYAK INSAAT A.S. OYAK PAZARLAMA HIZMET VE TURIZM A.S. OYAK RENAULT OTOMOBIL FABRIKALARI A.S. OYAK SAVUNMA VE GUVENLIK SISTEMLERI A.S. OYAK TEKNOLOJI BILISIM VE KART HIZMETLERI A.S. OYAK TELEKOMUNIKASYON HIZMETLERI A.S. OYAK YATIRIM MENKUL DEGERLER A.S. OYKA KAGIT AMBALAJ SANAYII VE TICARET A.S. OYTAS IC VE DIS TICARET A.S. TAM GIDA SANAYI VE TICARET A.S. TUKAS GIDA SANAYI VE TICARET A.S. UNYE CIMENTO SANAYI VE TICARET A.S. |
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BOARD OF DIRECTORS |
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BUSINESS ACTIVITIES |
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Manufacture and trade of chemical materials to be used at PVC sector. |
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NACE CODE |
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DG.24.00 |
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SECTOR |
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Chemicals |
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TRADEMARKS OWNED |
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Akdeniz Kimya Aksab Akstab |
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NUMBER OF EMPLOYEES |
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420 |
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NET SALES |
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IMPORT VALUE |
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IMPORT COUNTRIES |
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Malaysia Bulgaria U.K. Far East Countries |
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MERCHANDISE IMPORTED |
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Chemical materials |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
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Azerbaijan Iran Lebanon Egypt Libya Algeria Kazakhstan Russia Iraq Poland Slovenia Ukraine India Bulgaria |
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MERCHANDISE EXPORTED |
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Chemical materials |
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HEAD OFFICE ADDRESS |
: |
Ataturk Mah. No:45 Ulucak Koyu Kirovasi Mevkii Kemalpasa Izmir /
Turkey (owned) |
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BRANCHES |
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Head Office/Factory : Ataturk Mah. No:45 Ulucak Koyu Kirovasi
Mevkii Kemalpasa Izmir/Turkey (owned) |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2011. |
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SIZE OF BUSINESS |
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Giant |
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MAIN DEALING BANKS |
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Akbank Ege Kurumsal Branch Asya Katilim Bankasi Kurumsal Branch Garanti Bankasi Pinarbasi Branch T. Is Bankasi Ege Kurumsal Branch Yapi ve Kredi Bankasi 9 Eylul Branch |
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PAYMENT BEHAVIOUR |
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No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
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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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( 1998 ) |
54,30 % |
0,2657 |
0,2967 |
0,4410 |
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( 1999 ) |
62,90 % |
0,4278 |
0,4518 |
0,6843 |
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( 2000 ) |
32,70 % |
0,6251 |
0,5774 |
0,9480 |
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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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(01.01-30.04.2013) |
-0,01 % |
1,7920 |
2,3566 |
2,7927 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.54 |
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1 |
Rs.84.19 |
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Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.