MIRA INFORM REPORT

 

 

Report Date :

09.05.2014

 

IDENTIFICATION DETAILS

 

Name :

KOLORTEK KONSANTRE BOYA VE KIMYEVI MADDELER SANAYII VE TICARET LTD. STI.

 

 

Registered Office :

Organize Sanayi Cad. Kirmizi Cad. No:3  Bursa

 

 

Country :

Turkey

 

 

Date of Incorporation :

13.06.2002

 

 

Com. Reg. No.:

52377

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacture and trade of masterbatch.

 

 

No. of Employees :

30

 

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 :

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

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately 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% in 2012-13. Turkey's public sector debt to GDP ratio has fallen below 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 reached nearly $195 billion at year-end 2013, reflecting Turkey's good 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, 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

 

 

NAME

:

KOLORTEK KONSANTRE BOYA VE KIMYEVI MADDELER SANAYII VE TICARET LTD. STI.

HEAD OFFICE ADDRESS

:

Organize Sanayi Cad. Kirmizi Cad. No:3  Bursa / Turkey

PHONE NUMBER

:

90-224-241 42 08

 

FAX NUMBER

:

90-224-241 42 01-02

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

The paid-in capital is declared by the subject. There is no certification for the paid-in capital..

TAX OFFICE

:

Ertugrulgazi

TAX NO

:

5750263094

REGISTRATION NUMBER

:

52377

REGISTERED OFFICE

:

Bursa Chamber of Commerce and Industry

DATE ESTABLISHED

:

13.06.2002

ESTABLISHMENT GAZETTE DATE/NO

:

05.07.2002/5585

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   2.000.000

PAID-IN CAPITAL

:

TL   2.000.000

HISTORY

:

Previous Registered Capital

:

TL 200.000

Changed On

:

18.12.2007 (Commercial Gazette Date /Number 02.01.2008/ 6968)

Other Changes

:

Please vide Previous Shareholders section for the former shareholders' names.

Changed On

:

23.03.2012 (Commercial Gazette Date /Number 30.03.2012/ 8038)

PREVIOUS SHAREHOLDERS

:

Samet Satir

42,50 %

Suhendam Satir

42,50 %

Ferit Urbay

15 %

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Suhendam Urbay

85 %

Ferit Urbay

15 %

 

 

DIRECTORS

:

Ferit Urbay

 

Suhendam Urbay

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of masterbatch.

 

NACE CODE

:

DG.24.30

 

SECTOR

:

Chemicals

 

TRADEMARKS OWNED

:

Suncolor

 

NUMBER OF EMPLOYEES

:

30

 

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.

 

IMPORT COUNTRIES

:

Korea

China

Belgium

Germany

India

 

MERCHANDISE IMPORTED

:

Concentrated paint

 

HEAD OFFICE ADDRESS

:

Organize Sanayi Cad. Kirmizi Cad. No:3  Bursa / Turkey ( owned )

 

BRANCHES

:

Head Office/Production Plant  :  Organize Sanayi Cad. Kirmizi Cad. No:3 Bursa/Turkey (owned)

 

FINANCE

 

MAIN DEALING BANKS

:

T. Is Bankasi Organize Sanayi Branch

Yapi ve Kredi Bankasi Organize Sanayi Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

 

COMMENT ON FINANCIAL POSITION

 

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

 ( 01.01-31.03.2014)

5,52 %

2,1961

3,0116

3,6488

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.00

UK Pound

1

Rs.101.75

Euro

1

Rs.83.48

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

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