|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CROMAS DIS
TICARET A.S. |
|
|
|
|
Registered Office : |
Yenidogan Mah. Rami Kisla Cad. Cicoz Yolu No:67 Hekimoglu Is Merkezi
Daire: 4-5-6 Bayrampasa Istanbul |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
29.05.2013 |
|
|
|
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Com. Reg. No.: |
870401 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in Trading of machinery |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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 |
|
NOTES |
: |
Address at your inquiry is the former address. |
COMPANY IDENTIFICATION
|
|
|
||
|
NAME |
: |
CROMAS DIS TICARET A.S. |
|
HEAD OFFICE ADDRESS |
: |
Yenidogan Mah. Rami Kisla Cad. Cicoz Yolu No:67 Hekimoglu Is Merkezi
Daire: 4-5-6 Bayrampasa Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-613 73 50 |
|
FAX NUMBER |
: |
90-212-567 07 88 |
LEGAL STATUS AND HISTORY
|
|
|
||||||||
|
REGISTRATION NUMBER |
: |
870401 |
||||||
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
||||||
|
DATE ESTABLISHED |
: |
29.05.2013 |
||||||
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
04.06.2013/8334 |
||||||
|
LEGAL FORM |
: |
Joint Stock Company |
||||||
|
TYPE OF COMPANY |
: |
Private |
||||||
|
REGISTERED CAPITAL |
: |
TL 50.000 |
||||||
|
HISTORY |
: |
|
||||||
OWNERSHIP / MANAGEMENT
|
|
|
||||||
|
SHAREHOLDERS |
: |
|
||||
|
BOARD OF DIRECTORS |
: |
|
||||
OPERATIONS
|
|
|
||
|
BUSINESS ACTIVITIES |
: |
Engaged in Trading of machinery |
|
NACE CODE |
: |
G.51.80 |
|
SECTOR |
: |
Commerce |
|
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. |
|
CAPACITY |
: |
None |
|
PRODUCTION |
: |
None |
|
HEAD OFFICE ADDRESS |
: |
Yenidogan Mah. Rami Kisla Cad. Cicoz Yolu No:67 Hekimoglu Is Merkezi
Daire: 4-5-6 Bayrampasa Istanbul / Turkey |
|
INVESTMENTS |
: |
None |
|
TREND OF BUSINESS |
: |
Undetermined; young business. |
FINANCE
|
|
|
||
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
|
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 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
( 01.01-30.06.2014) |
5,12 % |
2,1608 |
2,9618 |
3,6153 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
UK Pound |
1 |
Rs.102.86 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
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.