|
Report No. : |
328122 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENATEKS TEKSTIL URUNLERI LTD. STI. |
|
|
|
|
Registered Office : |
3. OSB Sosyal Tesisler D Blok Cad. K:2 Sok. D:11 27100 Sehitkamil Gaziantep |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.01.2013 |
|
|
|
|
Com. Reg. No.: |
39539 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Trade of yarn and machine parts. |
|
|
|
|
No. of Employee : |
3 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia has seen a slowdown in growth since 2012, mostly due
to the end of the commodities export boom. During the global financial crisis,
Indonesia outperformed its regional neighbors and joined China and India as the
only G20 members posting growth. The government has promoted fiscally
conservative policies, resulting in a debt-to-GDP ratio of less than 25% and
historically low rates of inflation. Fitch and Moody's upgraded Indonesia's
credit rating to investment grade in December 2011. Indonesia still struggles
with poverty and unemployment, inadequate infrastructure, corruption, a complex
regulatory environment, a current account deficit, and unequal resource
distribution among regions. President Joko WIDODO - elected in July 2014 - has
emphasized maritime and other infrastructure development, and especially increased
electric power capacity, since taking office. Fuel subsidies were almost
completely removed in early 2015, a move which could help the government
increase spending on its development priorities. Indonesia, with the nine other
ASEAN members, will continue to move towards participation in the ASEAN
Economic Community, though full implementation of economic integration will not
be completed by the previously-set deadline of year-end 2015.
|
Source
: CIA |
NOTES |
: |
Full name of the firm was missing at your inquiry. |
|
NAME |
: |
RENATEKS TEKSTIL URUNLERI LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
3. OSB Sosyal Tesisler D Blok Cad. K:2 Sok. D:11 27100 Sehitkamil
Gaziantep / Turkey |
|
PHONE NUMBER |
: |
90-342-337 23 75 |
|
FAX NUMBER |
: |
90-342-337 23 75 |
|
TAX OFFICE |
: |
Sehitkamil |
|
TAX NO |
: |
7340702903 |
|
REGISTRATION NUMBER |
: |
39539 |
|
REGISTERED OFFICE |
: |
Gaziantep Chamber of Commerce |
|
DATE ESTABLISHED |
: |
18.01.2013 |
|
ESTABLISHMENT GAZETTE DATE /NO |
: |
29.01.2013/8246 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 150.000 |
|
SHAREHOLDERS |
: |
|
||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Trade of yarn and machine parts. |
||||||||
|
NACE CODE |
: |
G .51.41 |
||||||||
|
SECTOR |
: |
Commerce |
||||||||
|
NUMBER OF EMPLOYEES |
: |
3 |
||||||||
|
NET SALES |
: |
|
||||||||
|
REMARKS ON CAPACITY |
: |
None |
||||||||
|
REMARKS ON PRODUCTION |
: |
None |
||||||||
|
IMPORT COUNTRIES |
: |
Germany Italy Brazil India |
||||||||
|
MERCHANDISE IMPORTED |
: |
Machine parts |
||||||||
|
EXPORT VALUE |
: |
|
||||||||
|
HEAD OFFICE ADDRESS |
: |
3. OSB Sosyal Tesisler D Blok Cad. K:2 Sok. D:11 27100 Sehitkamil
Gaziantep / Turkey |
||||||||
|
INVESTMENTS |
: |
None |
|
TREND OF BUSINESS |
: |
There was a decline at business volume in nominal terms in 2014. |
|
SIZE OF BUSINESS |
: |
Small |
|
MAIN DEALING BANKS |
: |
Albaraka Turk Katilim Bankasi Gaziantep Organize Sanayi Branch Yapi ve Kredi Bankasi Gaziantep Organize Sanayi Branch |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
CREDIT FACILITIES |
: |
The subject company is making use of credit facilities. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
KEY FINANCIAL ELEMENTS |
: |
|
|
Capitalization |
High As of 31.12.2014 |
|
Remarks on Capitalization |
A part of total liabilities and equity consist of loans from
shareholders rather than liabilities to third parties indicating not too high
indebtedness to third parties. |
|
Liquidity |
High As of 31.12.2014 |
|
Remarks On Liquidity |
A part of current liabilities consist of short-term loans from
shareholders rather than liabilities to third parties. The unfavorable gap between average collection and average payable
period has an adverse effect on liquidity. |
|
Profitability |
Fair Operating Profitability (18.01-31.12.2013) Net Loss (18.01-31.12.2013) In Order Operating Profitability
in 2014 Fair Net Profitability in 2014 Good Operating Profitability (01.01-31.03.2015) High Net Profitability (01.01-31.03.2015) |
|
Gap between average collection and payable periods |
Unfavorable in 2014 |
|
General Financial Position |
Good |
|
|
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 |
|
( 01.01-31.03.2015) |
2,60 % |
2,4709 |
2,8023 |
3,7626 |
|
( 01.01-31.05.2015) |
5,22 % |
2,5346 |
2,8509 |
3,8736 |
|
|
( 31.12.2013 ) TL |
|
( 31.12.2014 ) TL |
|
|
|
|
CURRENT ASSETS |
185.104 |
0,55 |
106.539 |
0,48 |
|
|
|
Not Detailed Current Assets |
0 |
0,00 |
0 |
0,00 |
|
|
|
Cash and Banks |
12.700 |
0,04 |
7.829 |
0,03 |
|
|
|
Marketable Securities |
0 |
0,00 |
0 |
0,00 |
|
|
|
Account Receivable |
149.268 |
0,44 |
98.710 |
0,44 |
|
|
|
Other Receivable |
0 |
0,00 |
0 |
0,00 |
|
|
|
Inventories |
10.848 |
0,03 |
0 |
0,00 |
|
|
|
Advances Given |
2.742 |
0,01 |
0 |
0,00 |
|
|
|
Accumulated Construction Expense |
0 |
0,00 |
0 |
0,00 |
|
|
|
Other Current Assets |
9.546 |
0,03 |
0 |
0,00 |
|
|
|
NON-CURRENT ASSETS |
151.650 |
0,45 |
117.487 |
0,52 |
|
|
|
Not Detailed Non-Current Assets |
0 |
0,00 |
0 |
0,00 |
|
|
|
Long-term Receivable |
0 |
0,00 |
0 |
0,00 |
|
|
|
Financial Assets |
0 |
0,00 |
0 |
0,00 |
|
|
|
Tangible Fixed Assets (net) |
133.119 |
0,40 |
113.304 |
0,51 |
|
|
|
Intangible Assets |
1.683 |
0,00 |
1.683 |
0,01 |
|
|
|
Deferred Tax Assets |
0 |
0,00 |
0 |
0,00 |
|
|
|
Other Non-Current Assets |
16.848 |
0,05 |
2.500 |
0,01 |
|
|
|
TOTAL ASSETS |
336.754 |
1,00 |
224.026 |
1,00 |
|
|
|
CURRENT LIABILITIES |
198.983 |
0,59 |
101.072 |
0,45 |
|
|
|
Not Detailed Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
|
|
Financial Loans |
62.000 |
0,18 |
0 |
0,00 |
|
|
|
Accounts Payable |
67.484 |
0,20 |
48.931 |
0,22 |
|
|
|
Loans from Shareholders |
55.252 |
0,16 |
48.067 |
0,21 |
|
|
|
Other Short-term Payable |
0 |
0,00 |
0 |
0,00 |
|
|
|
Advances from Customers |
13.424 |
0,04 |
0 |
0,00 |
|
|
|
Accumulated Construction Income |
0 |
0,00 |
0 |
0,00 |
|
|
|
Taxes Payable |
0 |
0,00 |
0 |
0,00 |
|
|
|
Provisions |
823 |
0,00 |
4.074 |
0,02 |
|
|
|
Other Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
|
|
LONG-TERM LIABILITIES |
27.823 |
0,08 |
0 |
0,00 |
|
|
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
|
|
|
Financial Loans |
27.823 |
0,08 |
0 |
0,00 |
|
|
|
Securities Issued |
0 |
0,00 |
0 |
0,00 |
|
|
|
Long-term Payable |
0 |
0,00 |
0 |
0,00 |
|
|
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
|
|
|
Other Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
|
|
|
Provisions |
0 |
0,00 |
0 |
0,00 |
|
|
|
STOCKHOLDERS' EQUITY |
109.948 |
0,33 |
122.954 |
0,55 |
|
|
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
0 |
0,00 |
|
|
|
Paid-in Capital |
110.000 |
0,33 |
110.000 |
0,49 |
|
|
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
|
|
|
Inflation Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
|
|
|
Equity of Consolidated Firms |
0 |
0,00 |
0 |
0,00 |
|
|
|
Reserves |
0 |
0,00 |
0 |
0,00 |
|
|
|
Revaluation Fund |
0 |
0,00 |
0 |
0,00 |
|
|
|
Accumulated Losses(-) |
0 |
0,00 |
-52 |
0,00 |
|
|
|
Net Profit (loss) |
-52 |
0,00 |
13.006 |
0,06 |
|
|
|
TOTAL LIABILITIES AND EQUITY |
336.754 |
1,00 |
224.026 |
1,00 |
|
|
|
REMARKS ON FINANCIAL STATEMENT |
: |
At the financial statements according to TAS, "Cheques
Received" and "Outstanding Cheques" figures are under
"Cash And Banks" figure.
Beginning from the financial statements of 31.12.2011, "Cheques
Received" and "Outstanding Cheques" figures are given under
"Account Receivable" figure and "Account Payable" figure
respectively. In the sub-items of "Account Receivable", TL 0 is
"Doubtful Trade Receivables"
at the last balance sheet. TL 0 of "Tax Payable" is due to "Overdue, Delayed or
Deferred Tax by Installments and Other Liabilities" at the last balance
sheet. |
|
|
(18.01-31.12.2013)
TL |
|
(2014) TL |
|
(01.01-31.03.2015)
TL |
|
|
Net Sales |
647.319 |
1,00 |
630.995 |
1,00 |
215.411 |
1,00 |
|
Cost of Goods Sold |
576.085 |
0,89 |
524.348 |
0,83 |
170.209 |
0,79 |
|
Gross Profit |
71.234 |
0,11 |
106.647 |
0,17 |
45.202 |
0,21 |
|
Operating Expenses |
53.783 |
0,08 |
73.319 |
0,12 |
26.535 |
0,12 |
|
Operating Profit |
17.451 |
0,03 |
33.328 |
0,05 |
18.667 |
0,09 |
|
Other Income |
13 |
0,00 |
1.018 |
0,00 |
0 |
0,00 |
|
Other Expenses |
14.586 |
0,02 |
7.741 |
0,01 |
0 |
0,00 |
|
Financial Expenses |
0 |
0,00 |
10.348 |
0,02 |
0 |
0,00 |
|
Minority Interests |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) Before Tax |
2.878 |
0,00 |
16.257 |
0,03 |
18.667 |
0,09 |
|
Tax Payable |
2.930 |
0,00 |
3.251 |
0,01 |
0 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
-52 |
0,00 |
13.006 |
0,02 |
18.667 |
0,09 |
|
|
(18.01-31.12.2013) |
(2014) |
|
|
LIQUIDITY RATIOS |
|
|
|
|
Current Ratio |
0,93 |
1,05 |
|
|
Acid-Test Ratio |
0,81 |
1,05 |
|
|
Cash Ratio |
0,06 |
0,08 |
|
|
ASSET STRUCTURE RATIOS |
|
|
|
|
Inventory/Total Assets |
0,03 |
0,00 |
|
|
Short-term Receivable/Total Assets |
0,44 |
0,44 |
|
|
Tangible Assets/Total Assets |
0,40 |
0,51 |
|
|
TURNOVER RATIOS |
|
|
|
|
Inventory Turnover |
53,11 |
|
|
|
Stockholders' Equity Turnover |
5,89 |
5,13 |
|
|
Asset Turnover |
1,92 |
2,82 |
|
|
FINANCIAL STRUCTURE |
|
|
|
|
Stockholders' Equity/Total Assets |
0,33 |
0,55 |
|
|
Current Liabilities/Total Assets |
0,59 |
0,45 |
|
|
Financial Leverage |
0,67 |
0,45 |
|
|
Gearing Percentage |
2,06 |
0,82 |
|
|
PROFITABILITY RATIOS |
|
|
|
|
Net Profit/Stockholders' Eq. |
0,00 |
0,11 |
|
|
Operating Profit Margin |
0,03 |
0,05 |
|
|
Net Profit Margin |
0,00 |
0,02 |
|
|
Interest Cover |
|
2,57 |
|
|
COLLECTION-PAYMENT |
|
|
|
|
Average Collection Period (days) |
83,01 |
56,32 |
|
|
Average Payable Period (days) |
42,17 |
33,59 |
|
|
WORKING CAPITAL |
-13879,00 |
5467,00 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.