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Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
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Name : |
KOSEOGLU OTOMOTIV TICARET VE SANAYI A.S. |
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Registered Office : |
Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
03.01.1983 |
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Com. Reg. No.: |
191952 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale trade of automotive spare parts. |
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No. of Employees |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
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 around 9% in 2010-11, as exports returned to normal levels following
the recession. Growth dropped to roughly 3% in 2012-13. Turkey's public sector
debt to GDP ratio has fallen below 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 reached nearly $195 billion at year-end 2013, reflecting Turkey's
good growth even in the face of 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 |
|
NAME |
: |
KOSEOGLU OTOMOTIV TICARET VE SANAYI A.S. |
|
HEAD OFFICE ADDRESS |
: |
Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-254 75 62 |
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FAX NUMBER |
: |
90-212-237 42 22 |
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WEB-ADDRESS |
: |
www.koseogluoto.com |
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E-MAIL |
: |
info@koseogluoto.com |
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TAX OFFICE |
: |
Maslak |
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TAX NO |
: |
5890007199 |
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REGISTRATION NUMBER |
: |
191952 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
03.01.1983 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
05.01.1983/664 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 1.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
TAKSIM OTOMOTIV SANAYI VE TICARET LTD. STI. |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Wholesale trade of automotive spare parts. |
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NACE CODE |
: |
G .50.30 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
8 |
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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 |
: |
European Countries Germany France U.S.A. U.K. |
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MERCHANDISE IMPORTED |
: |
Spare parts |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Huzur Mah. Camlik Cad. No:6 Levent Oto Sanayi Sisli Istanbul / Turkey |
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INVESTMENTS |
: |
None |
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MAIN DEALING BANKS |
: |
T. Is Bankasi Taksim 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 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
( 01.01-31.03.2014) |
5,52 % |
2,1961 |
3,0116 |
3,6488 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
UK Pound |
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
|
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.