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Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PROMOLIFE
PROMOSYON URUNLERI SANAYI VE TICARET LTD. STI. |
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|
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Registered Office : |
Mahmutbey Mah.Istoc Toptancilar Carsisi 2.Yol
Sok.No.47 Bagcilar Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
13.08.2010 |
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Com. Reg. No.: |
744695 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale trader of promotional products Subject product
ranges includes:- ·
Diary |
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No of Employees : |
09 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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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 – 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 |
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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 |
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||
|
NAME |
: |
PROMOLIFE PROMOSYON URUNLERI SANAYI VE TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Mahmutbey Mah.Istoc Toptancilar Carsisi 2.Yol
Sok.No.47 Bagcilar Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-659 87 65 |
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WEB-ADDRESS |
: |
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LEGAL STATUS AND HISTORY |
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||
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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 |
: |
Gunesli |
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TAX NO |
: |
7330373606 |
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REGISTRATION NUMBER |
: |
744695 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
13.08.2010 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
19.08.2010/7632 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 350.000 |
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PAID-IN CAPITAL |
: |
TL 350.000 |
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HISTORY |
: |
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PREVIOUS SHAREHOLDERS |
: |
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OWNERSHIP / MANAGEMENT |
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||||||||
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SHAREHOLDERS |
: |
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||||||
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SISTER COMPANIES |
: |
Declared to be: None |
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SUBSIDIARIES |
: |
Declared to be: None |
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DIRECTORS |
: |
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OPERATIONS |
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NOTES ON
OPERATIONS |
: |
The firm
orders production to contract manufacturers. |
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BUSINESS ACTIVITIES |
: |
Wholesale trade of promotional products. The subject orders promotional products to be manufactured the name of the subject company to contract
manufacturers |
|
NACE CODE |
: |
G .51.90 |
|
Product details |
: |
·
Diary |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
9 |
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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. |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
China |
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MERCHANDISE IMPORTED |
: |
Promotional products |
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EXPORT COUNTRIES |
: |
Iraq Austria |
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MERCHANDISE EXPORTED |
: |
Promotional products |
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HEAD OFFICE ADDRESS |
: |
Mahmutbey Mah.Istoc Toptancilar Carsisi 2.Yol
Sok.No.47 Bagcilar Istanbul / Turkey |
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INVESTMENTS |
: |
None |
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|
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 |
|
( 01.01-30.04.2014) |
5,61 % |
2,1807 |
2,9954 |
3,6333 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
UK Pound |
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.