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Report No. : |
307136.2 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
FM MOTORPARTS OTOMOTIV A.S. |
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Registered Office : |
Purtelas Mah. Meclisi Mebusan Cad. No:53 Findikli Beyoglu Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
25.11.2014 |
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Com. Reg. No.: |
947918 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesaler and trader of automotive spare parts such as pistons,
piston-rings. |
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No. of Employee : |
46 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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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 |
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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.
|
Source
: CIA |
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NAME |
: |
FM MOTORPARTS
OTOMOTIV A.S. |
|
HEAD OFFICE ADDRESS |
: |
Purtelas Mah.
Meclisi Mebusan Cad. No:53 Findikli Beyoglu Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-292 63 13 |
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FAX NUMBER |
: |
90-212-292 62 60 |
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TAX OFFICE |
: |
Beyoglu |
||||||
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TAX NO |
: |
3880737046 |
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REGISTRATION NUMBER |
: |
947918 |
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REGISTERED OFFICE |
: |
Istanbul Chamber
of Commerce |
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DATE ESTABLISHED |
: |
25.11.2014 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
01.12.2014/8705 |
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LEGAL FORM |
: |
Joint Stock
Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 9.882.390 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
We are informed
that the shareholder "Federal Mogul UK Investments Ltd." is a
company located in U.K. |
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BOARD OF DIRECTORS |
: |
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BUSINESS
ACTIVITIES |
: |
Wholesale trade
of automotive spare parts such as pistons, piston-rings etc. According to
General Assembly Meeting of "Federal-Mogul Piston Segman ve Gomlek Uretim
Tesisleri A.S." dated 22.09.2014, "Federal-Mogul Piston Segman ve
Gomlek Uretim Tesisleri A.S." was divided to "Fm Motorparts
Otomotiv A.S. (subject company)" and "Federal Mogul Powertrain
Otomotiv A.S. (which is registered at Istanbul Commercial Registry with
registration number: 947924)", and this division was registered on
31.12.2014. According to this
decision marketing activity of pistons, piston-rings and motor covers were
transferred to the subject company "Fm Motorparts Otomotiv A.S.". |
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NACE CODE |
: |
G .50.30 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
46 |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
Belgium |
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MERCHANDISE IMPORTED |
: |
Automotive spare
parts |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Purtelas Mah.
Meclisi Mebusan Cad. No:53 Findikli Beyoglu Istanbul / Turkey |
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INVESTMENTS |
: |
None |
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TREND OF BUSINESS |
: |
Undetermined;
recently established business. |
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MAIN DEALING BANKS |
: |
T. Is Bankasi Istanbul Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays
have come to our knowledge.However it has to be noted that, the subject is a
young establishment. |
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KEY FINANCIAL ELEMENTS |
: |
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REMARKS ON KEY FINANCIAL ELEMENTS |
: |
There was a company named as "Federal-Mogul Piston Segman ve Gomlek Uretim Tesisleri A.S." which was registered at Istanbul Commercial Registry with registration number "333968". The firm was dealing with manufacture and trade of pistons, piston-rings and motor covers. On 31.12.2014 it has been dissolved by complete division to 2 companies named as "Fm Motorparts Otomotiv A.S." and "Federal Mogul Powertrain Otomotiv A.S.". The key financial figures of 31.08.2014 are the figures which have been fallen to the share of "Fm Motorparts Otomotiv A.S." during the division of "Federal-Mogul Piston Segman Ve Gomlek Uretim Tesisleri A.S.". |
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General Financial Position |
Capitalization and liquidity were high as of 31.08.2014. |
|
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 01.01-31.08.2014) |
6,33 % |
2,1583 |
2,9382 |
3,6128 |
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( 2014 ) |
6,36 % |
2,1891 |
2,8989 |
3,6060 |
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( 01.01-31.01.2015) |
0,33 % |
2,3765 |
2,7885 |
3,6477 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
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Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
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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 |
|
-- |
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.