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Report No. : |
341734 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
IMISK ITHALAT-IHRACAT TICARET VE NAKLIYAT A.S. |
|
|
|
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Registered Office : |
Ruzgarlibahce Mah. Ardic Sok. Acarlar Is Merk. F Blok Kat:7/17 Kavacik Istanbul |
|
|
|
|
Country : |
Turkey |
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|
|
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Date of Incorporation : |
11.03.1987 |
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|
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Com. Reg. No.: |
768395 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Trade
of food products such as biscuit and frozen fish. |
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|
|
|
No. of Employees : |
92 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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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 |
|
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 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 |
|
NAME |
: |
IMISK
ITHALAT-IHRACAT TICARET VE NAKLIYAT A.S. |
|
HEAD
OFFICE ADDRESS |
: |
Ruzgarlibahce
Mah. Ardic Sok. Acarlar Is Merk. F Blok Kat:7/17 Kavacik Istanbul / Turkey |
|
PHONE
NUMBER |
: |
90-324-238
30 60 90-324-238
57 00 |
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FAX
NUMBER |
: |
90-324-231
22 44 90-324-238
30 70 |
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WEB-ADDRESS |
: |
www.imisk.com.tr |
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TAX
OFFICE |
: |
Beykoz
|
||||||||||||
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TAX
NO |
: |
4740028743 |
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REGISTRATION
NUMBER |
: |
768395 |
||||||||||||
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REGISTERED
OFFICE |
: |
Istanbul
Chamber of Commerce |
||||||||||||
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DATE
ESTABLISHED |
: |
11.03.1987 |
||||||||||||
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ESTABLISHMENT
GAZETTE DATE/NO |
: |
07.04.1987/1740
|
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LEGAL
FORM |
: |
Joint
Stock Company |
||||||||||||
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TYPE
OF COMPANY |
: |
Private |
||||||||||||
|
REGISTERED
CAPITAL |
: |
TL 21.000.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
|
||||||||||||
|
BOARD
OF DIRECTORS |
: |
|
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BUSINESS
ACTIVITIES |
: |
Trade
of food products such as biscuit and frozen fish. |
||||
|
NACE
CODE |
: |
G
.51.30 |
||||
|
SECTOR |
: |
Commerce |
||||
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NUMBER
OF EMPLOYEES |
: |
92 |
||||
|
NET
SALES |
: |
|
||||
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REMARKS
ON NET SALES |
: |
The
sales figure of 2014 is declared by the company. There is no certification
for this figure. |
||||
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CAPACITY |
: |
None |
||||
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PRODUCTION |
: |
None |
||||
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IMPORT
COUNTRIES |
: |
China Vietnam |
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MERCHANDISE
IMPORTED |
: |
Frozen
fish |
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EXPORT
COUNTRIES |
: |
Egypt Israel Netherlands Denmark Norway Northern
Cyprus Turkish Republic U.S.A. |
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MERCHANDISE EXPORTED |
: |
Biscuit |
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HEAD
OFFICE ADDRESS |
: |
Ruzgarlibahce
Mah. Ardic Sok. Acarlar Is Merk. F Blok Kat:7/17 Kavacik Istanbul / Turkey |
||||
|
BRANCHES |
: |
Liaison
Office : Kahramanmaras/Turkey Branch
Office : Karaduvar Mah. Serbest Bolge Bulvari No:51 33020
Mersin Serbest Bolgesi (Free Zone) Akdeniz Mersin/Turkey Branch
Office : Camiserif Mah. Uray Cad. Sezer Ishani No:21
33060 Mersin/Turkey |
|
MAIN
DEALING BANKS |
: |
Finansbank
Adana Branch T.
Garanti Bankasi Mersin Branch Turk
Ekonomi Bankasi Adana Branch Yapi
ve Kredi Bankasi Mersin Branch |
||||||||||||||||||
|
PAYMENT
BEHAVIOUR |
: |
No
payment delays have come to our knowledge. |
||||||||||||||||||
|
KEY
FINANCIAL ELEMENTS |
: |
|
||||||||||||||||||
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REMARKS
ON KEY FINANCIAL ELEMENTS |
: |
The
key financial figures of 2014 are declared by the subject company. There is
no certification for these figures. |
|
Profitability |
Good
Net Profitability in 2014 |
|
General
Financial Position |
The
firm has profit but general financial position is undetermined. |
|
|
Incr.
in producers’ price index |
Average
USD/TL |
Average
EUR/TL |
Average
GBP/ TL |
|
( 2014 ) |
6,36
% |
2,1891 |
2,8989 |
3,6060 |
|
( 01.01-31.08.2015) |
6,19
% |
2,6233 |
2,9381 |
4,0377 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.50 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.75.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.