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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHT TEKSTIL KIMYA SANAYI VE TICARET A.S. |
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Registered Office : |
Akcaburgaz Mah. 123 Sok. No: 2 Esenyurt Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
06.06.1985 |
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Com. Reg. No.: |
215883 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and trader
of textile chemicals |
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No. of Employees : |
97 |
RATING & COMMENTS
|
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 : |
Unknown |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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.
|
Source : CIA |
COMPANY IDENTIFICATION
|
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||
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NAME |
: |
CHT TEKSTIL KIMYA SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Akcaburgaz Mah. 123 Sok. No: 2 Esenyurt Istanbul / Turkey |
|
REMARKS ON HEAD OFFICE ADDRESS |
: |
The address was changed from "Kirac San Bir Bulvari 9. Cad. 4. Bolge Cakmakli
Buyukcekmece" to "Akcaburgaz Mah. 123 Sok. No: 2 Esenyurt" by
the Municipality. |
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PHONE NUMBER |
: |
90-212-886 79 13 |
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FAX NUMBER |
: |
90-212-886 79 20 |
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WEB-ADDRESS |
: |
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E-MAIL |
: |
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LEGAL STATUS AND HISTORY
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TAX OFFICE |
: |
Bogazici Kurumlar |
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TAX NO |
: |
2090008558 |
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REGISTRATION NUMBER |
: |
215883 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
06.06.1985 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
12.06.1985/1284 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 19.000.000 |
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PAID-IN CAPITAL |
: |
TL 19.000.000 |
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HISTORY |
: |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
We are informed that, the shareholder "RB Beitlich Industriebeteiligungen
GmbH" is a company located in Germany. |
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SISTER COMPANIES |
: |
TUT YAPISTIRICI SANAYI VE TICARET A.S. |
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BOARD OF DIRECTORS |
: |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of textile chemicals. |
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NACE CODE |
: |
DG.0.00 |
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SECTOR |
: |
Chemicals |
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NUMBER OF EMPLOYEES |
: |
97 |
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NET SALES |
: |
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IMPORT VALUE |
: |
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IMPORT COUNTRIES |
: |
Germany Switzerland India |
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MERCHANDISE IMPORTED |
: |
Textile chemicals |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Switzerland Germany Indonesia Bangladesh Syria Uzbekistan Ethiopia |
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MERCHANDISE EXPORTED |
: |
Textile chemicals |
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HEAD OFFICE ADDRESS |
: |
Akcaburgaz Mah. 123 Sok. No: 2 Esenyurt Istanbul / Turkey ( owned ) |
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BRANCHES |
: |
Head Office/Factory : San Bir Bulvari 9. Cad. 4. Bolge Cakmakli
Buyukcekmece Istanbul/Turkey (owned) (7.940 sqm) Branch Office : Denizli Organize Sanayi Bolgesi Denizli/Turkey
(rented) Branch Office/Warehouse : Cumhuriyet Mah. Osmangazi Cad. No:101
Demirtas Bursa/Turkey (rented) (1.529 sqm) Branch Office/Warehouse : 1. Organize Sanayi Bolgesi 8. Cad. No:5/1
Baspinar Gaziantep/Turkey (rented) (5.362 sqm) |
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FINANCE
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MAIN DEALING BANKS |
: |
Garanti Bankasi Beylikduzu Branch HSBC Bank Mecidiyekoy Branch ING Bank Imes Branch T.Is Bankasi Mecidiyekoy Branch Turk Ekonomi Bankasi Beylikduzu 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 |
|
( 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 |
|
( 01.01-30.11.2013) |
5,80 % |
1,8999 |
2,5208 |
2,9748 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.