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Report No. : |
352066 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
KAVURLAR MAKINA SANAYI VE TICARET A.S. |
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Registered Office : |
29 Ekim Mah. Iskele Cad. No:14 Torbali
Izmir |
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Country : |
Turkey |
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Date of Incorporation : |
20.05.2010 |
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Com. Reg. No.: |
3842 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of fiber baling systems, scrap baling systems,
cardboard press and baling systems. |
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No. of Employee : |
35 |
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 |
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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 has brought 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 Foreign Direct Investment 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.
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 |
Address at your inquiry is the former address.
COMPANY
IDENTIFICATION
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NAME |
: |
KAVURLAR MAKINA SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
: |
29 Ekim Mah. Iskele Cad. No:14 Torbali
Izmir / Turkey |
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PHONE NUMBER |
: |
90-232-853 91 10 |
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FAX NUMBER |
: |
90-232-853 91 20 |
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WEB-ADDRESS |
: |
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E-MAIL |
: |
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LEGAL
STATUS AND HISTORY
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TAX OFFICE |
: |
Torbali |
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TAX NO |
: |
5290469507 |
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REGISTRATION NUMBER |
: |
3842 |
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REGISTERED OFFICE |
: |
Torbali Chamber of Commerce |
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DATE ESTABLISHED |
: |
20.05.2010 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
26.05.2010/7571 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 2.100.000 |
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HISTORY |
: |
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OWNERSHIP
/ MANAGEMENT
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SHAREHOLDERS |
: |
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BOARD OF DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of fiber baling systems, scrap baling systems, cardboard
press and baling systems. |
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NACE CODE |
: |
DK.29.24 |
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NUMBER OF EMPLOYEES |
: |
35 |
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NET SALES |
: |
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REMARKS ON NET SALES |
: |
The sales figures of 2014 and 01.01.-30.09.2015 are declared by the
company. There is no certification for these figures. |
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IMPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
European Countries |
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MERCHANDISE EXPORTED |
: |
Baling system |
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HEAD OFFICE ADDRESS |
: |
29 Ekim Mah. Iskele Cad. No:14 Torbali
Izmir / Turkey |
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BRANCHES |
: |
Head Office/Production Plant
: 29 Ekim Mah. Iskele Cad.
No:14 Torbali Izmir/Turkey |
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TREND OF BUSINESS |
: |
There appears a decline at business volume in nominal terms in 1.1 - 30.9.2015. |
FINANCE
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PAYMENT BEHAVIOUR |
: |
Unknown |
COMMENT
ON FINANCIAL POSITION
|
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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. |
|
|
Incr. in
producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
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( 2014 ) |
6,36 % |
2,1891 |
2,8989 |
3,6060 |
|
(
01.01-30.09.2015) |
7,81 % |
2,6640 |
2,9843 |
4,0944 |
|
(
01.01-31.10.2015) |
7,59 % |
2,6873 |
3,0050 |
4,1301 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.70.44 |
|
TRY |
1 |
Rs.23.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
ANK |
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 |
|
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 |
|
-- |
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.