|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
CAY ISLETMELERI GENEL MUDURLUGU CAYKUR |
|
|
|
|
Registered Office : |
Muftu Mah. Menderes Bulv. No:272 53080 Rize |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Date of Incorporation : |
06.12.1971 |
|
|
|
|
Com. Reg. No.: |
2180 |
|
|
|
|
Legal Form : |
State Enterprise |
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|
|
|
Line of Business : |
Producing, packaging and trade of tea and also providing services to
growers |
|
|
|
|
No. of Employees : |
7.100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 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 |
|
NAME |
: |
CAY ISLETMELERI GENEL MUDURLUGU CAYKUR |
|
HEAD OFFICE ADDRESS |
: |
Muftu Mah. Menderes Bulv. No:272 53080
Rize / Turkey |
|
PHONE NUMBER |
: |
90-464-213 02 11 (20 Lines) |
|
FAX NUMBER |
: |
90-464-213 02 47 90-464-213 02 51 |
|
WEB-ADDRESS |
: |
|
|
E-MAIL |
: |
|
TAX OFFICE |
: |
Yesilcay |
|
TAX NO |
: |
2320070948 |
|
REGISTRATION NUMBER |
: |
2180 |
|
REGISTERED OFFICE |
: |
Rize Chamber of Commerce and Industry |
|
DATE ESTABLISHED |
: |
06.12.1971 |
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LEGAL FORM |
: |
State Enterprise |
||||||||||||||||||||||||||||||
|
TYPE OF COMPANY |
: |
Public |
||||||||||||||||||||||||||||||
|
REGISTERED CAPITAL |
: |
TL 1.240.000.000 |
||||||||||||||||||||||||||||||
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||||||||
|
SUBSIDIARIES |
: |
CAYSAN DOGU KARADENIZ CAY ENTEGRE SANAYI A.S. |
||||||||||||
|
BOARD OF DIRECTORS |
: |
|
||||||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Producing, packaging and trade of tea and also providing services to
growers. The subject has 47 processing plants in Turkey. |
||||||
|
NACE CODE |
: |
A .1.13 |
||||||
|
NUMBER OF EMPLOYEES |
: |
7.100 |
||||||
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NET SALES |
: |
|
||||||
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IMPORT COUNTRIES |
: |
France U.K. |
||||||
|
MERCHANDISE IMPORTED |
: |
Extract Filter paper |
||||||
|
EXPORT VALUE |
: |
|
||||||
|
EXPORT COUNTRIES |
: |
Canada Switzerland U.K. Northern Cyprus Turkish Republic U.S.A. Austria Germany Denmark Bosnia and Herzegovina Netherlands Singapore Kosovo Free Zone France |
||||||
|
MERCHANDISE EXPORTED |
: |
Black tea Green tea Packaged tea |
||||||
|
HEAD OFFICE ADDRESS |
: |
Muftu Mah. Menderes Bulv. No:272 53080
Rize / Turkey |
|
BRANCHES |
: |
Regional Directorate :
Yenipazar Mah. Tuzla Sok. Elmadag Ankara/Turkey Regional
Directorate : Kazim Karabekir Pasa Mah. Bahcekoy Cad.
No:106 Sariyer Istanbul/Turkey Regional Directorate :
Emek Mah. Anadolu Cad. No:213/5 Karsiyaka Izmir/Turkey Regional Directorate :
Urfa Yolu 7 Km. P.K. 232 Diyarbakir/Turkey Regional Directorate :
Rustupasa Mah. Kavakkapi Erzurum/Turkey Regional Directorate :
Tarsus Yolu 7. Km Karacailyas Mersin/Turkey Regional Directorate :
Yildizevler Mah. Sivas Bulvari No:327 38030 Kocasinan Kayseri/Turkey Regional Directorate :
Islampasa Mah. Pak. Fab. Yani Taslidere Rize/Turkey Regional
Directorate : Kirazlik Mevkii P.K. 206 Kutlukent
Samsun/Turkey Liaison Office : Tarim ve Koy Isleri Bakanligi Kampusu
Makine Ikmal Dairesi Ikmal Sube Md. Binası Lodumlu Ankara/Turkey Processing Plant :
Islampasa Mah. Rize/Turkey Technical Service :
Engindere Mah. Rize/Turkey Facility
: Ziraat Bahcesi Rize/Turkey |
|
TREND OF BUSINESS |
: |
There was an upwards trend in
2013. |
|
SIZE OF BUSINESS |
: |
Giant |
|
MAIN DEALING BANKS |
: |
T. Halk Bankasi Rize Branch T. Vakiflar Bankasi Rize Branch T.C. Ziraat Bankasi Rize Branch |
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
|
KEY FINANCIAL ELEMENTS |
: |
|
|
General Financial Position |
In Turkey it is very common for state owned enterprise to have loss as
they are not profit oriented companies. The subject has high capitalization. |
|
|
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 |
|
(01.01-31.10.2014) |
8,22 % |
2,1739 |
2,9177 |
3,6143 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.