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Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DURKAR HALI TEKSTIL SANAYI VE TICARET A.S. |
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Registered Office : |
3. Organize Sanayi Bolgesi Mehmet Batalli Bulvari 83305 Nolu Cadde
No:4 Sehitkamil Gaziantep |
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Country : |
Turkey |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
22556 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of yarn and carpet. |
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No. of Employees : |
380 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
: |
DURKAR HALI TEKSTIL SANAYI VE TICARET A.S. |
|
HEAD OFFICE ADDRESS |
: |
3. Organize Sanayi Bolgesi Mehmet Batalli Bulvari 83305 Nolu Cadde
No:4 Sehitkamil Gaziantep / Turkey |
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REMARKS ON HEAD OFFICE ADDRESS |
: |
The street name was changed from "5 Nolu Cadde" to "83305
Nolu Cadde" by the Municipality. |
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PHONE NUMBER |
: |
90-342-337 93 90 |
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FAX NUMBER |
: |
90-342-337 93 95 |
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WEB-ADDRESS |
: |
www.durkarcarpet.com |
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E-MAIL |
: |
durkar@durkarcarpet.com |
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NOTES ON LEGAL STATUS AND HISTORY |
: |
Change at tax no . The paid-in capital is declared by the subject. There is no
certification for the paid-in capital.. |
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TAX OFFICE |
: |
Gazikent |
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TAX NO |
: |
3160899959 |
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REMARKS ON TAX NO |
: |
As the legal form changed from limited company to joint stock company,
the tax number was changed from "3160294716" to
"3160899959". |
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REGISTRATION NUMBER |
: |
22556 |
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REGISTERED OFFICE |
: |
Gaziantep Chamber of Commerce |
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DATE ESTABLISHED |
: |
2000 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
25.12.2000/5203 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 24.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
ALACA HALI PAZARLAMA IC VE DIS TICARET LTD. STI. DURKAR DIS TICARET LTD. STI. |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of yarn and carpet. |
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NACE CODE |
: |
DB.17.51 |
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SECTOR |
: |
Textile |
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TRADEMARKS OWNED |
: |
Arda Durkar Kesan |
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NUMBER OF EMPLOYEES |
: |
380 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The net sales figures are declared by the company .There is no
certification for these figures. |
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IMPORT COUNTRIES |
: |
Belgium Iran Saudi Arabia U.S.A. |
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MERCHANDISE IMPORTED |
: |
Raw material |
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EXPORT COUNTRIES |
: |
Pakistan Germany U.A.E. U.S.A. Kuwait Turkish Republics |
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MERCHANDISE EXPORTED |
: |
Carpet |
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HEAD OFFICE ADDRESS |
: |
3. Organize Sanayi Bolgesi Mehmet Batalli Bulvari 83305 Nolu Cadde
No:4 Sehitkamil Gaziantep / Turkey |
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BRANCHES |
: |
Head Office/Factory : 3. Organize Sanayi Bolgesi Mehmet Batalli
Bulvari 83305 Nolu Cadde No:4 Sehitkamil Gaziantep/Turkey |
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INVESTMENTS |
: |
None |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2012. |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
: |
Akbank Gaziantep Branch Kuveyt Turk Katilim Bankasi Gaziantep Branch Turk Ekonomi Bankasi Guneydogu Anadolu Branch Yapi ve Kredi Bankasi Gaziantep Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The key financial figures are declared by the subject company. There
is no certification for these figures. |
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Capitalization |
Fair As of 31.12.2012 |
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Profitability |
In Order Net Profitability in
2011 Fair Net Profitability in 2012 |
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General Financial Position |
Fair |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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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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( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
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( 01.01-31.08.2013) |
3,52 % |
1,8605 |
2,4465 |
2,8765 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.78 |
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|
1 |
Rs.101.42 |
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Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
---- |
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.