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Report No. : |
305453 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATABAY ILAC FABRIKASI A.S. |
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Registered Office : |
Koftuncu Sok. No:1 Acibadem |
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Country : |
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Date of Incorporation : |
03.02.1966 |
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Com. Reg. No.: |
91336 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and Trade of Medicine. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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.
|
Source
: CIA |
In absence of financials, no credit limit could be recommended.
COMPANY IDENTIFICATION |
|
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||
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NAME |
: |
ATABAY ILAC FABRIKASI A.S. |
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HEAD OFFICE ADDRESS |
: |
Koftuncu Sok. No:1 Acibadem Istanbul / Turkey |
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PHONE NUMBER |
: |
90-216-326 69 65 |
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FAX NUMBER |
: |
90-216-340 13 77 |
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WEB-ADDRESS |
: |
www.atabay.com.tr (under construction) |
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E-MAIL |
: |
info@atabay.com |
LEGAL STATUS AND HISTORY |
|
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||
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TAX OFFICE |
: |
Anadolu Kurumlar |
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TAX NO |
: |
0930004182 |
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REGISTRATION NUMBER |
: |
91336 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
03.02.1966 |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 1.200.000 |
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PAID-IN CAPITAL |
: |
TL 1.200.000 |
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HISTORY |
: |
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OWNERSHIP / MANAGEMENT |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
Distribution of the shares is not available. |
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GROUP |
: |
ATABAY GROUP OF COMPANIES |
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SISTER COMPANIES |
: |
ATABAY DIS TICARET A.S. ATABAY KIMYA SANAYI VE TICARET A.S. ATABAY TARIM VETERINER ILACLARI SANAYI VE TICARET A.S. ATABAY TURIZM DENIZCILIK VE YATCILIK TICARET A.S. ATAFARM ILAC SANAYI VE TICARET LTD. STI. ATAMULK GAYRIMENKUL INSAAT YATIRIM SANAYI VE TICARET A.S. GENFAR ILAC VE GIDA SANAYI TICARET ITHALAT IHRACAT LTD. STI. |
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BOARD OF DIRECTORS |
: |
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OPERATIONS |
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BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine. |
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NACE CODE |
: |
DG.24.42 |
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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 |
: |
Koftuncu Sok. No:1 Acibadem Istanbul / Turkey |
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BRANCHES |
: |
Factory : Esentepe Mevkii Tavsanli Koyu Gebze
Kocaeli/Turkey Head Office/Factory : Koftuncu Sok. No:1 Acibadem Istanbul/Turkey
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FINANCE |
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||
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MAIN DEALING BANKS |
: |
T. Is Bankasi Rihtim Branch Yapi ve Kredi Bankasi Catalcesme Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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. |
|
|
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 |
|
( 2014 ) |
6,36 % |
2,1891 |
2,8989 |
3,6060 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
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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 |
|
|
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 |
|
|
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 |
-- |
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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.