MIRA INFORM REPORT

 

 

Report Date :

12.02.2014

 

IDENTIFICATION DETAILS

 

Name :

HAYATI YILDIRIMCAN

 

 

Registered Office :

Selcuk Mah. Iskele Cad. No:24 Muratpasa Antalya

 

 

Country :

Turkey             

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

05.03.2012

 

 

Com. Reg. No.:

71607-73780

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Subject is engaged in the Retail trade of carpet and textile products such as swim suit, underwear

 

 

No. of Employees :

5

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Turkey             

B2

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 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

 

 

REMARKS

:

"URARTU CARPET" is the trade name of "HAYATI YILDIRIMCAN" which is a sole-proprietorship.

 

Address at your inquiry is not the registered head office but another premise.

 

 

COMPANY IDENTIFICATION

 

NAME

:

HAYATI YILDIRIMCAN

HEAD OFFICE ADDRESS

:

Selcuk Mah. Iskele Cad. No:24 Muratpasa Antalya / Turkey

PHONE NUMBER

:

90-242-715 10 07

 

FAX NUMBER

:

90-242-715 10 07

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Liability of the subject is not limited to the capital.

 

 

TAX OFFICE

:

Uckapilar

TAX NO

:

14740550602

REGISTRATION NUMBER

:

71607-73780

REGISTERED OFFICE

:

Antalya Chamber of Commerce and Industry

DATE ESTABLISHED

:

05.03.2012

REMARKS ON DATE ESTABLISHED

:

The subject sole-proprietorship was established on 05.03.2012. As the sole-proprietorships are not obliged to be registered at commercial registry, it has not registered at commercial registry until October 2012. It was registered at Antalya Commercial Registry on 31.10.2012 (Commercial Registry Gazette Date/No: 07.11.2012/ 8188).

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Hayati Yildirimcan

100 %

 

 

REMARKS ON SHAREHOLDERS

:

The owner "Hayati Yildirimcan" was born in 1968 and graduated from high school.

 

PROPERTIES OWNED BY THE OWNER/PARTNERS

:

Property Type

The head office of the subject

A car

A flat

SISTER COMPANIES

:

URARTUART HALI TEKSTIL GIDA FOTOGRAF TURIZM VE TICARET LTD. STI.

 

DIRECTORS

:

Hayati Yildirimcan

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Retail trade of carpet and textile products such as swim suit, underwear

NACE CODE

:

G .52.48

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

5

 

NET SALES

:

709.716 TL

(05.03-31.12.2012) 

1.107.007 TL

(01.01-30.09.2013) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Italy

 

MERCHANDISE IMPORTED

:

Swims suit

Underwear

EXPORT VALUE

:

0 TL

(05.03-31.12.2012)

0 TL

(2013)

0 TL

(01.01-31.01.2014)

 

 

HEAD OFFICE ADDRESS

:

Selcuk Mah. Iskele Cad. No:24 Muratpasa Antalya / Turkey (owned)

 

BRANCHES

:

Branch Office  :  Ileribasi Mevkii No:9 Rixos Hotel Premium Belek Antalya/Turkey (rented)

 

INVESTMENTS

:

None

 

 

 

TREND OF BUSINESS

:

Undetermined; young business.

 

 

FINANCE

 

MAIN DEALING BANKS

:

Yapi ve Kredi Bankasi Antalya Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(05.03-31.12.2012) TL

(01.01-30.09.2013) TL

Net Sales

709.716

1.107.007

Profit (Loss) Before Tax

12.141

24.329

Gross Profit (loss)

253.147

365.774

Operating Profit (loss)

12.141

24.329

Net Profit (loss)

12.141

20.678

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

General Financial Position

The firm is profitable and the owner/partners possess property.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-30.09.2013)

4,43 %

1,8785

2,4774

2,9189

 ( 2013 )

6,97 %

1,9179

2,5530

3,0178

 ( 01.01-31.01.2014)

3,32 %

2,2040

3,0090

3,6415

 

 

INCOME STATEMENTS

 

 

(05.03-31.12.2012) TL

 

(01.01-30.09.2013) TL

 

Net Sales

709.716

1,00

1.107.007

1,00

Cost of Goods Sold

456.569

0,64

741.233

0,67

Gross Profit

253.147

0,36

365.774

0,33

Operating Expenses

241.006

0,34

341.445

0,31

Operating Profit

12.141

0,02

24.329

0,02

Other Income

0

0,00

0

0,00

Other Expenses

0

0,00

0

0,00

Financial Expenses

0

0,00

0

0,00

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

12.141

0,02

24.329

0,02

Tax Payable

0

0,00

3.651

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

12.141

0,02

20.678

0,02

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.102.48

Euro

1

Rs.85.28

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.