MIRA INFORM REPORT

 

 

Report No. :

325000

Report Date :

05.06.2015

 

IDENTIFICATION DETAILS

 

Name :

YUKSEL ARAS-DEKOLINE

 

 

Registered Office :

Organize Bolgesi 3. Kisim 5. Cad. No:48 Merkez Sivas

 

 

Country :

Turkey 

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

18.01.1996

 

 

Com. Reg. No.:

8519

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Retail Trade of Furniture and Medical Materials.

 

 

No. of Employees :

25

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

REMARKS

 

The registered full name of the firm having the address stated at your inquiry is "YUKSEL ARAS-DEKOLINE" which is a sole proprietorship.

 

However the tax number stated at your inquiry as "4030089430" belongs to another company named as "Gokler Mobilya Medikal Ve Saglik Hizmetleri Gida Maddeleri Insaat Nakliye Imalat Montaj Pazarlama Ithalat Ihracat Sanayi Ticaret A.S." and the report of "Gokler Mobilya Medikal Ve Saglik Hizmetleri Gida Maddeleri Insaat Nakliye Imalat Montaj Pazarlama Ithalat Ihracat Sanayi Ticaret A.S." is provided to you on 21.05.2015.

 

As your inquiry includes the full name and address of "YUKSEL ARAS-DEKOLINE", we provide the report on "YUKSEL ARAS-DEKOLINE".

 

 

COMPANY IDENTIFICATION

 

NAME

:

YUKSEL ARAS-DEKOLINE

HEAD OFFICE ADDRESS

:

Organize Bolgesi 3. Kisim 5. Cad. No:48 Merkez Sivas / Turkey

PHONE NUMBER

:

90-346-218 19 10

 

FAX NUMBER

:

90-346-218 19 14

 

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Change at tax no.

 

Liability of the subject is not limited to the capital.

 

 

TAX OFFICE

:

Kale

TAX NO

:

14504880808

REMARKS ON TAX NO

:

From the beginning of year 2007, the sole proprietorships perform fiscal manipulations with personal ID number instead of tax number. So the number of the subject changed from "0720055919" to "14504880808" for fiscal manipulations.

REGISTRATION NUMBER

:

8519

REGISTERED OFFICE

:

Sivas Chamber of Commerce and Industry

DATE ESTABLISHED

:

18.01.1996

ESTABLISHMENT GAZETTE DATE/NO

:

01.03.1996/3988

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

HISTORY

:

Previous Name

:

Yuksel Aras - Koza Mutfak

Changed On

:

12.04.2012 (Commercial Gazette Date /Number 18.04.2012/ 8051)

Previous Address

:

Inonu Bulvari Amcalar Apt. No:26/A Merkez Sivas

Changed On

:

04.03.2015 (Commercial Gazette Date /Number 13.03.2015/ 8778)

 

 

OWNERSHIP/ MANAGEMENT

 

SHAREHOLDERS

:

Yuksel Aras

100 %

 

 

REMARKS ON SHAREHOLDERS

:

We are informed that the owner "Yuksel Aras" was born in 1944.

 

 

DIRECTORS

:

Yuksel Aras

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Retail trade of furniture and medical materials.

 

NACE CODE

:

G .52.44

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

25

 

NET SALES

:

10.333 TL Thousand

(2013) 

23.543 TL Thousand

(2014) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT VALUE

:

0 TL

(2013)

0 TL

(2014)

0 TL

(01.01-31.05.2015)

 

 

EXPORT VALUE

:

3.850 TL Thousand

(2013)

14.322 TL Thousand

(2014)

 

 

EXPORT COUNTRIES

:

Egypt

Saudi Arabia

Iraq

Germany

Kuwait

South Africa

 

MERCHANDISE  EXPORTED

:

Furniture

 

HEAD OFFICE ADDRESS

:

Organize Bolgesi 3. Kisim 5. Cad. No:48 Merkez Sivas / Turkey

 

INVESTMENTS

:

None

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2014.

SIZE OF BUSINESS

:

Large

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Finansbank Sivas Branch

Garanti Bankasi Sivas Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

 

PAYMENT BEHAVIOUR

:

We are informed about a single payment delay in the former years which was resolved later on but no payment delays have come to our knowledge in the last years.

 

KEY FINANCIAL ELEMENTS

:

 

(2013) TL Thousand

(2014) TL Thousand

Net Sales

10.333

23.543

Profit (Loss) Before Tax

7

1.101

Stockholders' Equity

783

1.885

Total Assets

17.796

19.494

Current Assets

15.188

10.760

Non-Current Assets

2.608

8.734

Current Liabilities

16.426

17.609

Long-Term Liabilities

587

0

Gross Profit (loss)

1.406

4.468

Operating Profit (loss)

-89

1.843

Net Profit (loss)

7

1.101

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Low As of 31.12.2014

Remarks on Capitalization

The liability of the sole-proprietorships is not limited to the capital. The owners of the sole-proprietorships are responsible for the debts of the sole-proprietorships with all of their personal wealth.

 

Liquidity

Insufficient As of 31.12.2014

Remarks On Liquidity

The favorable gap between average collection and average payable period has a positive effect on liquidity.

 

Profitability

Operating Loss  in 2013

Low Net Profitability  in 2013

Good Operating Profitability  in 2014

Good Net Profitability  in 2014

 

Gap between average collection and payable periods

Favorable in 2014

General Financial Position

Passable

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2013 )

6,97 %

1,9179

2,5530

3,0178

 ( 2014 )

6,36 %

2,1891

2,8989

3,6060

 (01.01-30.04.2015)

4,06 %

2,5088

2,8371

3,8329

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.18

UK Pound

1

Rs.98.30

Euro

1

Rs.72.25

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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

 

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

 

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

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.