|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AKSA JENERATOR SANAYI A.S. |
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Registered Office : |
Ruzgarli Bahce Mah. Selvi Cikmazi No:10 Kavacik Beykoz |
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Country : |
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Date of Incorporation : |
31.05.1994 |
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Com. Reg. No.: |
314910 |
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|
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacture and trade of generator. |
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|
|
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No of Employees : |
230 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 around 9% in
2010-11, as exports returned to normal levels following the recession. Growth
dropped to roughly 3-4% in 2012-13. Turkey's public sector debt to GDP ratio
has fallen below 40%, and two rating agencies upgraded Turkey's debt to
investment grade in 2012 and 2013. Turkey remains dependent on often volatile,
short-term investment to finance its large current account deficit. The stock
value of FDI reached nearly $195 billion at year-end 2013, reflecting Turkey's
robust 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,
domestic political uncertainty, and turmoil within Turkey's neighborhood leave
the economy vulnerable to destabilizing shifts in investor confidence.
|
Source
: CIA |
COMPANY IDENTIFICATION
|
|
|
||
|
NAME |
: |
AKSA JENERATOR SANAYI A.S. |
|
HEAD OFFICE ADDRESS |
: |
Ruzgarli Bahce Mah. Selvi Cikmazi No:10 Kavacik Beykoz Istanbul /
Turkey |
|
PHONE NUMBER |
: |
90-212-478 66 66 |
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FAX NUMBER |
: |
90-212-657 55 11 |
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WEB-ADDRESS |
: |
www.aksa.com.tr |
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E-MAIL |
: |
aksa@aksa.com.tr |
LEGAL STATUS AND HISTORY
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NOTES ON LEGAL STATUS AND HISTORY |
: |
The paid-in capital is declared by the subject. There is no certification
for the paid-in capital. |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
0340008630 |
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REGISTRATION NUMBER |
: |
314910 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
31.05.1994 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
06.06.1994/3545 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 50.000.000 |
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PAID-IN CAPITAL |
: |
TL 50.000.000 |
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HISTORY |
: |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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GROUP PARENT COMPANY |
: |
KAZANCI HOLDING A.S. |
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SISTER COMPANIES |
: |
AKSA AFYON DOGAL GAZ DAGITIM A.S. AKSA BALIKESIR DOGAL GAZ DAGITIM A.S. AKSA BILECIK BOLU DOGAL GAZ DAGITIM A.S. AKSA CANAKKALE DOGAL GAZ DAGITIM A.S. AKSA CNG SIKISTIRILMIS DOGAL GAZ ILETIM DAGITIM VE SATIS A.S. AKSA DOGAL GAZ DAGITIM A.S. AKSA DOGAL GAZ TOPTAN SATIS A.S. AKSA DUZCE EREGLI DOGAL GAZ DAGITIM A.S. AKSA ELAZIG DOGAL GAZ DAGITIM A.S. AKSA ELEKTRIK PERAKENDE SATIS A.S. AKSA ELEKTRIK TOPTAN SATIS A.S. AKSA ENERJI URETIM A.S. AKSA GAZ DAGITIM A.S. AKSA GEMLIK DOGAL GAZ DAGITIM A.S. AKSA GOYNUK ENERJI URETIM A.S. AKSA GUMUSHANE BAYBURT DOGALGAZ DAGITIM A.S. AKSA HAVACILIK A.S. AKSA KARADENIZ DOGAL GAZ DAGITIM A.S. AKSA MAKINA SANAYI A.S. AKSA MALATYA DOGAL GAZ DAGITIM A.S. AKSA MANISA DOGALGAZ DAGITIM A.S. AKSA MUSTAFAKEMALPASA SUSURLUK KARACABEY DOGALGAZ DAGITIM A.S. AKSA ORDU GIRESUN DOGAL GAZ DAGITIM A.S. AKSA SANLIURFA DOGALGAZ DAGITIM LTD. STI. AKSA SATIS VE PAZARLAMA A.S. AKSA SERVIS VE KIRALAMA A.S. AKSA TEKNOLOJI A.S. AKSA TRAKYA DOGAL GAZ DAGITIM A.S. AKSA TURIZM ISLETMELERI A.S. AKSA VAN DOGALGAZ DAGITIM A.S. ANADOLU DOGAL GAZ TOPTAN SATIS A.S. ANADOLU DOGALGAZ DAGITIM A.S. AYRES AYVACIK RUZGAR ENERJISINDEN ELEKTRIK URETIM SANTRALI LTD. STI. BAKI ELEKTRIK URETIM LTD. STI. CEKA ENERJI URETIM A.S. CORUH AKSA ELEKTRIK HIZMETLERI A.S. CORUH ELEKTRIK DAGITIM A.S. FIRAT AKSA ELEKTRIK HIZMETLERI A.S. IDIL IKI ENERJI SANAYI VE TICARET A.S. KAPIDAG RUZGAR ENERJISI ELEKTRIK URETIM SANAYI VE TICARET A.S. KAZANCI HOLDING A.S. KAZANCI TEKNIK CIHAZLAR YEDEK PARCA TICARET A.S. KONI INSAAT SANAYI A.S. RASA ELEKTRIK URETIM A.S. RASA ENERJI URETIM A.S. VANGOLU AKSA ELEKTRIK HIZMETLERI A.S. |
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SUBSIDIARIES |
: |
AKSA CEZAYIR AKSA FAR EAST AKSA POWER GENERATOR CHINA AKSA POWER GENERATOR DUBAI AKSA POWER GENERATOR UK AKSA SATIS VE PAZARLAMA A.S. AKSA SERVIS VE KIRALAMA A.S. |
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BOARD OF DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of generator. |
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NACE CODE |
: |
DL.31.10 |
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TRADEMARKS OWNED |
: |
Aksa |
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NUMBER OF EMPLOYEES |
: |
230 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
Belgium France Italy U.K. Germany China Korea |
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MERCHANDISE IMPORTED |
: |
Generator equipment |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Northern Cyprus Turkish Republic Afghanistan Iraq Libya Jordan Singapore Sudan Algeria Russia Yemen |
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MERCHANDISE EXPORTED |
: |
Generator |
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HEAD OFFICE ADDRESS |
: |
Ruzgarli Bahce Mah. Selvi Cikmazi No:10 Kavacik Beykoz Istanbul / Turkey |
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BRANCHES |
: |
Factory : Piri Reis Tasocagi No:2 Mahmutbey
Istanbul/Turkey (rented) (7.000 sqm) |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2013.
There appears an upwards trend in 1.1
- 30.6.2014. |
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SIZE OF BUSINESS |
: |
Giant |
FINANCE
|
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MAIN DEALING BANKS |
: |
Finansbank Gunesli Branch T. Is Bankasi Gunesli Branch Tekstil Bankasi Tesvikiye 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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COMMENT ON FINANCIAL POSITION
|
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Capitalization |
Low |
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Remarks on Capitalization |
The loss at the last period is expected to have a negative effect on equity
total since the date of last stockholders’ equity. |
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Profitability |
Good Net Profitability in 2010 Net Loss in 2013 Operating Loss (01.01-30.06.2014) Net Loss (01.01-30.06.2014) |
|
General Financial Position |
Unsatisfactory |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
|
( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
|
( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
|
( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
|
( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
|
( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
|
( 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 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
( 01.01-30.06.2014) |
5,12 % |
2,1608 |
2,9618 |
3,6153 |
|
( 01.01-31.07.2014) |
5,89 % |
2,1578 |
2,9492 |
3,6152 |
INCOME STATEMENT
|
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|
|
(01.01-30.06.2014)
TL Thousand |
|
|
Net Sales |
209.158 |
1,00 |
|
Cost of Goods Sold |
198.520 |
0,95 |
|
Gross Profit |
10.638 |
0,05 |
|
Operating Expenses |
11.025 |
0,05 |
|
Operating Profit |
-387 |
0,00 |
|
Other Income |
13.131 |
0,06 |
|
Other Expenses |
10.385 |
0,05 |
|
Financial Expenses |
4.125 |
0,02 |
|
Minority Interests |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
|
Profit (loss) Before Tax |
-1.766 |
-0,01 |
|
Tax Payable |
985 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
|
Net Profit (loss) |
-2.751 |
-0,01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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.