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Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
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Name : |
IZOPOLI YAPI
ELEMANLARI TAAHHUT SANAYI VE TICARET A.S. |
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Formerly Known as : |
IZOPOLI YAPI ELEMANLARI TAAHHUT SANAYI VE TICARET LTD. STI. |
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Registered Office : |
Ciragan Cad. No:97 Ortakoy Istanbul |
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Country : |
Turkey |
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Year of Establishment : |
1983 |
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Com. Reg. No.: |
247973 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged as Installation, manufacturer
and trader of polyurethane
construction materials, sandwich panels, roof-wall panels, cold store panels,
single sheet, cold store doors for energy efficient industrial
buildings. |
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No of Employees : |
127 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
NOTES |
: |
Full name of the firm was missing at your inquiry. |
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NAME |
: |
IZOPOLI YAPI ELEMANLARI TAAHHUT SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Ciragan Cad. No:97 Ortakoy Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-236 60 32 |
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FAX NUMBER |
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90-212-261 64 48 |
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WEB-ADDRESS |
: |
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E-MAIL |
: |
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NOTES ON
LEGAL STATUS AND HISTORY |
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Change at
registration no . |
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TAX OFFICE |
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Bogazici Kurumlar |
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TAX NO |
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4840672061 |
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REGISTRATION NUMBER |
: |
247973 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
1983 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 26.000.000 |
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PAID-IN CAPITAL |
: |
TL 26.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
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BASKENT OTOPARK VE KUM OCAGI ISLETMECILIGI OTOMOTIV AKARYAKIT SERVIS
PAZARLAMA SANAYI VE TICARET LTD. STI. BASKENTLILER ENERJI ELEKTRIK URETIM A.S. IZOPOLI IMPEKS PREFABRIK PANEL SANAYI VE TICARET LTD. STI. IZOPOLI LAMBDA INSAAT TURIZM SANAYI VE TICARET A.S. |
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REMARKS ON SISTER COMPANIES |
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The Turkish shareholder "Suat Kiroglu" has shares at a.m. companies. |
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SUBSIDIARIES |
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IZOPOLI EAD (BULGARIA) IZOPOLI EGYPT LLC. IZOPOLI MMC (AZERBAIJAN) IZOPOLI SULEYMANIA (IRAQ) IZOPOLI YAPI ELEMANLARI RO SRL (ROMANIA) |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Engaged as Installation, manufacturer
and trader of polyurethane
construction materials, sandwich panels, roof-wall panels, cold store panels,
single sheet, cold store doors for energy efficient industrial
buildings. |
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NACE CODE |
: |
DJ.28.11 |
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MAIN CLIENTS |
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Betek Boya (Turkey) Citruc (Romania) Coca Cola (Turkey) Domino Trading (Romania) Hama Veterinary Faculty
(Syria) Jawad Trading (Syria) Mas Makine (Turkey) Ulker Natura Gida (Turkey) |
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TRADEMARKS OWNED |
: |
Kingspan Izopoli |
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NUMBER OF EMPLOYEES |
: |
127 |
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NET SALES |
: |
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IMPORT COUNTRIES |
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Italy Germany Belgium France Greece Spain Denmark Switzerland Netherlands U.S.A. South Korea India China Slovakia |
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MERCHANDISE IMPORTED |
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Polyurethane Raw materials Roll metal sheet |
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EXPORT VALUE |
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EXPORT COUNTRIES |
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Bulgaria Egypt Lebanon Iran Iraq India Jordan Azerbaijan Romania Nigeria Syria Netherlands Philippines Saudi Arabia Czech Republic Hungary U.A.E. |
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MERCHANDISE EXPORTED |
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Aluminum structures Iron & Steel bars Metal structures Polyurethanes |
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HEAD OFFICE ADDRESS |
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Ciragan Cad. No:97 Ortakoy Istanbul / Turkey ( rented ) |
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BRANCHES |
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Factory : Bolu Organize Sanayi Bolgesi Doktor Akin
Cakmakci Bulvari No:59 Bolu/Turkey (owned) (5.000 sqm) Factory : Yumurtalik Serbest Bolgesi(Free Zone)
Adana/Turkey (rented) (40.000 sqm) |
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INVESTMENTS |
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None |
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TREND OF BUSINESS |
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There was a decline at business volume in nominal terms in 2012. |
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SIZE OF BUSINESS |
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Large |
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MAIN DEALING BANKS |
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T. Is Bankasi Galata Ticari Branch Turk Ekonomi Bankasi Besiktas Branch Turkiye Vakiflar Bankasi Ortakoy Branch |
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PAYMENT BEHAVIOUR |
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No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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Capitalization |
Satisfactory As of 31.12.2012 |
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Profitability |
Fair Net Profitability in 2011 In Order Net Profitability in
2012 |
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General Financial Position |
Fair |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
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( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
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( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
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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 |
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( 01.01-30.04.2014) |
5,61 % |
2,1807 |
2,9954 |
3,6333 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.58.75 |
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UK Pound |
1 |
Rs.98.77 |
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Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.