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Report No. : |
335272 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
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Name : |
LUNA KIMYEVI MADDELER LTD. STI. |
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Registered Office : |
Istanbul Organize Deri Sanayi Bolgesi 10. Yol C-19/A Parsel Tuzla Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
09.02.1995 |
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Com. Reg. No.: |
326498 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture and trade of chemicals to be used at textile, food, and ceramic
sector. |
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No. of Employees : |
31 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 region to market. Several gas pipeline projects also are
moving forward to help transport Caspian gas to Europe through Turkey, which
over the long term will help address Turkey's dependence on imported oil and
gas, which currently meets 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. Two rating agencies upgraded Turkey's debt to
investment grade in 2012 and 2013, and Turkey's public sector debt to GDP ratio
fell to 33% in 2014. The stock value of FDI reached nearly $195 billion at
year-end 2014. Despite these positive trends, GDP growth dropped to 4.4% in
2013 and 2.9% in 2014. Growth slowed considerably in the last quarter of 2014,
largely due to lackluster consumer demand both domestically and in Europe,
Turkey’s most important export market. High interest rates have also
contributed to the slowdown in growth, as Turkey sharply increased interest
rates in January 2014 in order to strengthen the country’s currency and reduce
inflation. Turkey then cut rates in February 2015 in a bid to spur economic growth.
It is clear from these developments that the Turkish economy retains
significant weaknesses. Specifically, 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. Turkey also remains dependent on often volatile, short-term
investment to finance its large current account deficit.
|
Source
: CIA |
COMPANY
IDENTIFICATION
|
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||
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NAME |
: |
LUNA KIMYEVI MADDELER LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Istanbul Organize Deri Sanayi Bolgesi 10. Yol C-19/A Parsel Tuzla
Istanbul / Turkey |
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PHONE NUMBER |
: |
90-216-394 20 07(Head Office) 90-282-686 35 94 (Production Plant) 90-374-311 90 72 (Warehouse) |
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FAX NUMBER |
: |
90-216 394 20 13 (Head Office) 90-282-686 72 28 (Production Plant) 90-374-311 90 73 (Warehouse) |
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WEB-ADDRESS |
: |
www.luna.com.tr |
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E-MAIL |
: |
luna@luna.com.tr |
LEGAL
STATUS AND HISTORY
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TAX OFFICE |
: |
Tuzla |
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TAX NO |
: |
6090025977 |
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REGISTRATION NUMBER |
: |
326498 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
09.02.1995 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
15.02.1995/3726 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 10.000.000 |
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HISTORY |
: |
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PREVIOUS SHAREHOLDERS |
: |
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OWNERSHIP
/ MANAGEMENT
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SHAREHOLDERS |
: |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of chemicals to be used at textile, food, and
ceramic sector. |
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NACE CODE |
: |
DG.24.00 |
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NUMBER OF EMPLOYEES |
: |
31 |
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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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HEAD OFFICE ADDRESS |
: |
Istanbul Organize Deri Sanayi Bolgesi 10. Yol C-19/A Parsel Tuzla
Istanbul / Turkey |
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BRANCHES |
: |
Warehouse : Yeni Tabakhaneler Panayir Yolu No:8 Gerede
Bolu/Turkey Head Office/Processing Plant
: Istanbul Organize Deri Sanayi
Bolgesi 10. Yol C-19/A Parsel Tuzla Istanbul/Turkey Production Plant : Corlu Deri Org. San. Bolgesi Hidiraga Mah.
Corlu Suyu Karsisi Mevki 936 Ada 27 Parsel Corlu Tekirdag/Turkey |
FINANCE
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PAYMENT BEHAVIOUR |
: |
We are informed about numerous payment delays in this year some of
which were resolved later on. |
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. |
|
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Incr. in
producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
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( 2014 ) |
6,36 % |
2,1891 |
2,8989 |
3,6060 |
|
( 01.01-30.06.2015) |
5,49 % |
2,5568 |
2,8727 |
3,9250 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
TPT |
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 |
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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.