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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL TEKSTIL SANAYI VE TICARET LTD. STI. |
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Registered Office : |
Ikitelli Osb Mah. Eski Turgut Ozal Cad. No.22 D Ic K.No.3
BO3 Basaksehir Istanbul |
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Country : |
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Date of Incorporation : |
02.12.1998 |
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Com. Reg. No.: |
429053 |
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Legal Form : |
Limited Company |
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Line of Business : |
Dyeing, finishing, printing, knitting and wholesale trade
of fabric |
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No. of Employees |
640 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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
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Source
: CIA |
NOTES |
: |
Address at your inquiry is the former address. |
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NAME |
: |
UNIVERSAL TEKSTIL
SANAYI VE TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Ikitelli Osb Mah. Eski Turgut Ozal Cad. No.22 D Ic K.No.3 BO3
Basaksehir Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-671 03 74 (Head Office) 90-282-674 51 08 (Factory) |
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FAX NUMBER |
: |
90-212-671 03 75 (Head Office) 90-282-674 51 12 (Factory) |
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WEB-ADDRESS |
: |
www.polarflc.com (Under Construction) |
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E-MAIL |
: |
universal@polarflc.com |
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NOTES ON LEGAL STATUS AND HISTORY |
: |
Change at registration no . |
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TAX OFFICE |
: |
Ikitelli |
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TAX NO |
: |
8920068290 |
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REGISTRATION NUMBER |
: |
429053 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
1998 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
02.12.1998/4682 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 100.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
AKSER YAYINCILIK ELEKTRONIK SANAYI VE TICARET LTD. STI. ATLAS ENERJI VE MADENCILIK SANAYI TICARET LTD STI CINAR EGITIM KULTUR HIZMETLERI SANAYI VE TICARET A.S. UNIVERSAL EGITIM HIZMETLERI SANAYI VE TICARET A.S. |
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SUBSIDIARIES |
: |
Declared to be: None |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Dyeing, finishing, printing, knitting and wholesale trade
of fabric. |
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NACE CODE |
: |
DB.17.30 |
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SECTOR |
: |
Textile |
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TRADEMARKS OWNED |
: |
Welsoft |
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NUMBER OF EMPLOYEES |
: |
640 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
Taiwan Korea China |
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MERCHANDISE IMPORTED |
: |
Textile machinery Yarn |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Russia Northern Cyprus Turkish Republic Germany Poland Uzbekistan Egypt Greece Ukraine |
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MERCHANDISE
EXPORTED |
: |
Textile products |
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HEAD OFFICE ADDRESS |
: |
Ikitelli Osb Mah. Eski Turgut Ozal Cad. No.22 D Ic K.No.3
BO3 Basaksehir Istanbul / Turkey |
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BRANCHES |
: |
Factory : Kustepe Mevkii Velimese Yolu Corlu-Tekirdag
Tekirdag/Turkey (owned) (19.858 sqm) |
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TREND OF BUSINESS |
: |
There was a decline at business volume in nominal terms
in 2013. |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
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Albaraka Turk Katilim Bankasi Ikitelli Branch Halk Bankasi Gunesli Branch T. Is Bankasi Ikitelli Ticari Branch Yapi Ve Kredi Bankasi Medya 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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THE DETAILS OF THE CAPITAL INCREASE AFTER LAST BALANCE SHEET |
: |
Cash Part |
:1.500.000 TL |
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Equity Part |
:23.500.000 TL |
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Payment Due Date |
:24.04.2016 |
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Capitalization |
Insufficient As of 31.12.2013 |
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Remarks on Capitalization |
There has been capital increase after the last balance
sheet date. |
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Profitability |
Low Net Profitability
in 2011 Low Net Profitability in 2012 Low Net Profitability in 2013 |
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General Financial Position |
Unsatisfactory |
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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 |
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( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
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( 01.01-31.08.2014) |
6,33 % |
2,1583 |
2,9382 |
3,6128 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.61.10 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
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 |
-- |
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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.