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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ABB ELEKTRIK SANAYI A.S. |
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Registered Office : |
Yukari Dudullu Organize Sanayi Bolgesi 2. Cad. No:16 Umraniye Istanbul
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Country : |
Turkey |
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Date of Incorporation : |
05.07.1965 |
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Com. Reg. No.: |
89889 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in manufacturing, undertaking turn on key projects as well as engineering
of transformer and electrical systems for industrial facilities. |
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No of Employees : |
950 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source : CIA |
COMPANY
IDENTIFICATION
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NAME |
: |
ABB ELEKTRIK SANAYI A.S. |
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HEAD OFFICE ADDRESS |
: |
Yukari Dudullu Organize Sanayi Bolgesi 2. Cad. No:16 Umraniye Istanbul
/ Turkey |
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PHONE NUMBER |
: |
90-216-528 22 00 |
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FAX NUMBER |
: |
90-216-466 53 83 |
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WEB-ADDRESS |
: |
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LEGAL
STATUS AND HISTORY
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NOTES
ON LEGAL STATUS AND HISTORY |
: |
The
paid-in capital is declared by the subject. There is no certification for the
paid-in capital. |
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TAX OFFICE |
: |
Buyuk Mukellefler |
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TAX NO |
: |
0010047133 |
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REGISTRATION NUMBER |
: |
89889 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
05.07.1965 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 13.410.000 |
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PAID-IN CAPITAL |
: |
TL 13.410.000 |
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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 "ABB Asea Brown Boveri Ltd.
Sti." is a company located in Switzerland. |
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SISTER COMPANIES |
: |
ABB IHRACAT TICARET VE ELEKTRIK SANAYI A.S. |
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SUBSIDIARIES |
: |
ABB IHRACAT TICARET VE ELEKTRIK SANAYI A.S. |
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BOARD OF DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture, undertaking turn on key projects as well as engineering
of transformer and electrical systems for industrial facilities. |
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NACE CODE |
: |
DL.31.10 |
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NUMBER OF EMPLOYEES |
: |
950 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The sales figures are declared by the company. There is no
certification for these figures. |
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IMPORT COUNTRIES |
: |
Italy Sweden Switzerland Germany Finland Norway Spain |
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MERCHANDISE IMPORTED |
: |
Component Intermediary goods |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Saudi Arabia Jordan Lebanon Italy Bahrain Northern Cyprus Turkish Republic Greece U.K. Switzerland |
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MERCHANDISE EXPORTED |
: |
Electric motors Petrolium oil Transformers |
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HEAD OFFICE ADDRESS |
: |
Yukari Dudullu Organize Sanayi Bolgesi 2. Cad. No:16 Umraniye Istanbul
/ Turkey (owned) |
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BRANCHES |
: |
Workshop : Organize Sanayi Bolgesi Izmir/Turkey Workshop : Boya ve Vernik Organize Sanayi Bolgesi Tuzla
Istanbul/Turkey (rented) Factory : Milangaz Cad. Ankara Asfalti Ustu No:52
Soganlikoyu Kartal Istanbul/Turkey (owned) Store : Ankara/Turkey Store : Bursa/Turkey Store : Adana/Turkey Head Office/Factory : Yukari Dudullu Organize Sanayi Bolgesi 2.
Cad. No:16 Umraniye Istanbul/Turkey (owned) Administrative Office : Dumankaya Vizyon No:77 D Blok Kat:2 Kartal
Istanbul/Turkey |
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TREND OF BUSINESS |
: |
There was an upwards trend in 2012. |
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SIZE OF BUSINESS |
: |
Giant |
FINANCE
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MAIN DEALING BANKS |
: |
Garanti Banakasi Kurumsal Branch Turk Ekonomi Bankasi Kozyatagi Kurumsal Branch Yapi ve Kredi Bankasi Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The key financial figures are declared by the subject. There is no
certification for these figures. |
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Capitalization |
Good As of 31.03.2013. |
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Liquidity |
Good As of 31.03.2013. |
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Remarks On Liquidity |
Current ratio is 1,88 as of 31.03.2013. |
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General Financial Position |
In Order |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
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( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
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( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
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( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-31.03.2013) |
0,50 % |
1,7901 |
2,3575 |
2,7927 |
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( 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.59.47 |
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UK Pound |
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.