MIRA INFORM REPORT

 

 

Report No. :

505116

Report Date :

25.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

SPEKTRUM DIS TICARET LTD. STI.

 

 

Registered Office :

Kucukbakkalkoy Mah. Dudullu Cad. R2 Res. Blok:23-25B N:201 Atasehir 34750 Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2017 (Income Statements)

 

 

Date of Incorporation :

04.07.2017

 

 

Com. Reg. No.:

90115-5

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale trade of various kinds of products such as construction materials, textile and camera products

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

NB

 

Credit Rating

Explanation

Rating Comments

NB

New Business

No recommendation can be done due to business in infancy stage

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Turkey

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

TURKEY - ECONOMIC OVERVIEW

 

Turkey's largely free-market economy is driven by its industry and, increasingly, service sectors, although its traditional agriculture sector still accounts for about 25% of employment. The automotive, petrochemical, and electronics industries have risen in importance and surpassed the traditional textiles and clothing sectors within Turkey's export mix. However, the recent period of political stability and economic dynamism has given way to domestic uncertainty and security concerns, which are generating financial market volatility and weighing on Turkey’s economic outlook.

Current government policies emphasize populist spending measures and credit breaks, while implementation of structural economic reforms has slowed. The government is playing a more active role in some strategic sectors and has used economic institutions and regulators to target political opponents, undermining private sector confidence in the judicial system. Between July 2016 and March 2017, three credit ratings agencies downgraded Turkey’s sovereign credit ratings, citing concerns about the rule of law and the pace of economic reforms.

Turkey remains highly dependent on imported oil and gas but is pursuing energy relationships with a broader set of international partners and taking steps to increase use of domestic energy sources including renewables, nuclear, and coal. The joint Turkish-Azerbaijani Trans-Anatolian Natural Gas Pipeline is moving forward to increase transport of Caspian gas to Turkey and Europe, and when completed will help diversify Turkey's sources of imported gas.

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. An aggressive privatization program also reduced state involvement in basic industry, banking, transport, power generation, and communication. 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 growth rebounded to around 9% in 2010 and 2011, as exports and investment recovered following the crisis.

The growth of Turkish GDP since 2016 has revealed the persistent underlying imbalances in the Turkish economy. In particular, Turkey’s large current account deficit means it must rely on external investment inflows to finance growth, leaving the economy vulnerable to destabilizing shifts in investor confidence. Other troublesome trends include rising unemployment and inflation, which increased in 2017, given the Turkish lira’s continuing depreciation against the dollar. Although government debt remains low at about 30% of GDP, bank and corporate borrowing has almost tripled as a percent of GDP during the past decade, outpacing its emerging-market peers and prompting investor concerns about its long-term sustainability.

 

Source : CIA

 

 

COMPANY IDENTIFICATION

 

 

 

NAME

SPEKTRUM DIS TICARET LTD. STI.

HEAD OFFICE ADDRESS

Kucukbakkalkoy Mah. Dudullu Cad. R2 Res. Blok:23-25B N:201 Atasehir 34750 Istanbul / Turkey

PHONE NUMBER

90-216-510 21 91

 

FAX NUMBER

90-216-510 22 14

 

WEB-ADDRESS

www.spektrum.com.tr

E-MAIL

info@spektrum.com.tr

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

Kozyatagi

TAX NO

7810583733

REGISTRATION NUMBER

90115-5

REGISTERED OFFICE

Istanbul Chamber of Commerce

COMMERCIAL REGISTRY

Istanbul Commercial Registry

DATE ESTABLISHED

04.07.2017

ESTABLISHMENT GAZETTE DATE/NO

10.07.2017/9363

LEGAL FORM

Limited Company

TYPE OF COMPANY

Private

REGISTERED CAPITAL

TL   500.000

HISTORY

Previous Address   :  

Yukari Dudullu Mah. Tavukcuyolu Cad. No:285/1 Umraniye Istanbul    / Changed on : 31.07.2017/(Commercial Gazette Date /Number 04.08.2017 /9382)

Previous Shareholder   :  

Please vide Previous Shareholders section for the former shareholders' names.    / Changed on : 31.07.2017/(Commercial Gazette Date /Number 04.08.2017 /9382)

PREVIOUS SHAREHOLDERS

Fatima Tuzzehra Berk

100 %

 

 

 

 

OWNERSHIP / MANAGEMENT

 

 

 

SHAREHOLDERS

Ahmuhammet Akmurzayev

100 %

 

SISTER COMPANIES

 

 

 

- GRIMEX GRUP ELEKTRONIK BILISIM TEKNOLOJILERI ITHALAT IHRACAT PAZARLAMA VE TICARET LTD. STI. ( Origin: Turkey,  Tax Number: 4110418466,  Registration Number: 929403 )

 

 

DIRECTORS

 

Ahmuhammet Akmurzayev ( General Manager )

 

 

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

Wholesale trade of various kinds of products such as construction materials, textile and camera products.

 

NACE CODE

G .51.90

 

SECTOR

Commerce

 

NUMBER OF EMPLOYEES

1

 

NET SALES

368.238 TL

(04.07-31.12.2017) 

 

CAPACITY

None

 

PRODUCTION

None

 

IMPORT COUNTRIES

Turkmenistan

China

 

MERCHANDISE IMPORTED

Camera products

Construction materials

Textile products

 

EXPORT VALUE

368.038 TL

(04.07-31.12.2017)

 

EXPORT COUNTRIES

Pakistan

Turkmenistan

U.S.A.

 

MERCHANDISE  EXPORTED

Construction materials

Textile product

 

HEAD OFFICE ADDRESS

Kucukbakkalkoy Mah. Dudullu Cad. R2 Res. Blok:23-25B N:201 Atasehir  Istanbul / Turkey

 

NOTES ON INVESTMENTS

None                                                                                                                                                              

 

TREND OF BUSINESS

Undetermined; young business.

 

 

FINANCE

 

 

 

MAIN DEALING BANKS

Albaraka Turk Katilim Bankasi Umraniye Branch

T. Garanti Bankasi Dudullu Branch

 

PAYMENT BEHAVIOUR

 

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

 

(04.07-31.12.2017)                                                                                TL

Net Sales

368.238

Profit (Loss) Before Tax

-44.937

Gross Profit (loss)

2.256

Operating Profit (loss)

-56.260

Net Profit (loss)

-44.937

 

 

COMMENT ON FINANCIAL POSITION

 

Profitability

Operating Loss (04.07-31.12.2017)

Net Loss (04.07-31.12.2017)

 

General Financial Position

The firm has loss

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2017 )

15,47 %

3,6337

4,1120

4,7059

 ( 01.01-31.03.2018)

5,29 %

3,8255

4,6833

5,3266

 

 

 

 

INCOME STATEMENTS

 

 

(04.07-31.12.2017)  ( Interim Period )  TL

 

Net Sales

368.238

1,00

Cost of Goods Sold

365.982

0,99

Gross Profit

2.256

0,01

Operating Expenses

58.516

0,16

Operating Profit

-56.260

-0,15

Other Income

11.490

0,03

Other Expenses

138

0,00

Financial Expenses

29

0,00

Minority Interests

0

0,00

Profit (loss) of consolidated firms

0

0,00

Profit (loss) Before Tax

-44.937

-0,12

Tax Payable

0

0,00

Postponed Tax Gain

0

0,00

Net Profit (loss)

-44.937

-0,12

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.36

UK Pound

1

INR 92.51

Euro

1

INR 81.05

TRY

1

INR 16.42

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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