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Report No. : |
337714 |
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Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
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Name : |
EKOM ECZACIBASI DIS TICARET A.S. |
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|
|
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Registered Office : |
Buyukdere Cad. Ali Kaya Sok. No:5 Sisli Istanbul |
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|
|
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Country : |
Turkey |
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Date of Incorporation : |
02.07.1981 |
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Com. Reg. No.: |
181128 |
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|
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Subject performs the export activities mainly of Eczacibasi group |
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|
|
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No. of Employee : |
16 |
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 : |
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 |
|
Risk Category |
ECGC
Classification |
|
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 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. Growth has dropped to roughly 2-4% in 2013-14. 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 2014, reflecting Turkey's robust growth even in the face of economic turmoil in Europe, the source of most of Turkey's foreign direct investment. 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 |
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NAME |
: |
EKOM ECZACIBASI DIS TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
Buyukdere Cad. Ali Kaya Sok. No:5 Sisli Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-371 70 00 |
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FAX NUMBER |
: |
90-212-371 71 10 |
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WEB-ADDRESS |
: |
www.ekomeczacibasi.com.tr |
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TAX OFFICE |
: |
Bogazici Kurumlar |
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TAX NO |
: |
3300012937 |
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REGISTRATION NUMBER |
: |
181128 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
02.07.1981 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
09.07.1981/289 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 3.481.000 |
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PAID-IN CAPITAL |
: |
TL 3.481.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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GROUP PARENT COMPANY |
: |
ECZACIBASI HOLDING A.S. |
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SISTER COMPANIES |
: |
BURGBAD AG CENNET KOYU TURIZM ISLETMELERI SANAYI VE TICARET A.S. ECZACIBASI BILISIM SANAYI VE TICARET A.S. ECZACIBASI GAYRIMENKUL GELISTIRME VE YATIRIM A.S. ECZACIBASI GIRISIM PAZARLAMA TUKETIM URUNLERI SANAYI VE TICARET A.S. ECZACIBASI HAVACILIK A.S. ECZACIBASI HEALTH CARE (RUSSIA) ECZACIBASI HIJYEN URUNLERI SANAYI VE TICARET A.S. ECZACIBASI HOLDING A.S. ECZACIBASI ILAC TICARET A.S. ECZACIBASI MEDIKAL VE KOZMETIK URUNLERI SANAYI VE TICARET A.S. ECZACIBASI MONROL NUKLEER URUNLER SANAYI VE TICARET A.S. ECZACIBASI ORTAK SAGLIK VE GUVENLIK BIRIMI A.S. ECZACIBASI PORTFOY YONETIMI A.S. ECZACIBASI SAGLIK HIZMETLERI A.S. ECZACIBASI SCHWARZKOPF KUAFOR URUNLERI PAZARLAMA A.S. ECZACIBASI YAPI GERECLERI SANAYI VE TICARET A.S. ECZACIBASI YATIRIM HOLDING ORTAKLIGI A.S. ECZACIBASI YATIRIM MENKUL DEGERLER A.S. ECZACIBASI YATIRIM ORTAKLIGI A.S. ECZACIBASI-BAXTER HASTANE URUNLERI SANAYI VE TICARET A.S. EHP ECZACIBASI HEALTH CARE PRODUCTS JOINT STOCK CO. EIP ECZACIBASI ILAC PAZARLAMA A.S. EIS ECZACIBASI ILAC SINAI VE FINANSAL YATIRIMLAR SANAYI VE TICARET
A.S. E-KART ELEKTRONIK KART SISTEMLERI SANAYI VE TICARET A.S. ENGERS KERAMIK GMBH&CO. KG ESAN ECZACIBASI ENDUSTRIYEL HAMMADDELER SANAYI VE TICARET A.S. ESAN ITALIA MINERALS S.R.L ESI ECZACIBASI SIGORTA ACENTALIGI A.S. INTEMA INSAAT VE TESISAT MALZEMELERI YATIRIM VE PAZARLAMA A.S. IPEK KAGIT KAZAKISTAN IPEK KAGIT SANAYI VE TICARET A.S. KANYON YONETIM ISLETIM VE PAZARLAMA LTD. STI. KARINCA TASARIM URUNLERI SANAYI VE TICARET A.S. KAYNAK TEKNIGI SANAYII VE TICARET A.S. MOLEKULER GORUNTULEME TICARET VE SANAYI A.S. SYS ROBOT TEKNOLOJILERI OTOMASYON MAKINE VE MUHENDISLIK SANAYI VE
TICARET A.S. V&B FLIESEN GMBH VITRA BAD GMBH VITRA BATH AND TILES RUSSIA VITRA KARO SANAYI VE TICARET A.S. VITRA SANITARYWARE MARKETING LIMITED (UK) VITRA TILES IRELAND LTD. VITRA UK VITRA USA INC. YAPI IS YATIRIM EMLAK VE INSAAT A.S. |
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BOARD OF DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
The subject performs the export activities mainly of Eczacibasi group. |
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NACE CODE |
: |
G .51.19 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
16 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Canada U.S.A. Turkmenistan Bulgaria Azerbaijan Kazakhstan France Russia Bosnia and Herzegovina Northern Cyprus Turkish Republic Egypt Lebanon Kuwait Taiwan Hong-Kong |
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MERCHANDISE EXPORTED |
: |
Ceramic ware and tiles Cosmetics Hygienic papers Medicine |
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HEAD OFFICE ADDRESS |
: |
Buyukdere Cad. Ali Kaya Sok. No:5 Sisli Istanbul / Turkey |
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TREND OF BUSINESS |
: |
There was a decline at business volume in nominal terms in 2013. |
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MAIN DEALING BANKS |
: |
Akbank Kurumsal Branch Garanti Bankasi Istanbul Kurumsal Branch T. Is Bankasi Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The "Profit Before Tax" figure of 2012 is TL 2.915.354. The "Profit Before Tax" figure of 2013 is TL 3.537.084. |
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General Financial Position |
The firm has profit but general financial position is undetermined. |
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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 |
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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 |
|
( 01.01-31.03.2015) |
2,60 % |
2,4709 |
2,8023 |
3,7626 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.83 |
|
|
1 |
Rs.103.39 |
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Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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 |
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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 |
-- |
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.