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MIRA
INFORM REPORT
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Report No. : |
509872 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
TATMETAL CELIK SANAYI VE TICARET A.S. |
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Registered Office : |
Eski
Uskudar Icerenkoy Yolu VIP Plaza No:10 K:11 D:12 Atasehir 34752 Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
10.05.1996 |
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Com. Reg. No.: |
509013 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Processing and wholesale trade of
metal. |
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No. of Employees : |
400 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Turkey |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
COMPANY IDENTIFICATION
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NAME |
TATMETAL CELIK SANAYI VE TICARET A.S. |
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HEAD OFFICE ADDRESS |
Eski Uskudar Icerenkoy Yolu VIP Plaza No:10
K:11 D:12 Atasehir 34752 Istanbul / Turkey |
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PHONE NUMBER |
90-216-574 08 28 |
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WEB-ADDRESS |
www.tatmetal.com.tr |
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E-MAIL |
info@tatmetal.com.tr |
LEGAL STATUS AND HISTORY
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NOTES ON LEGAL STATUS AND HISTORY |
Change at tax no.
Change
at registration no.
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TAX OFFICE |
Buyuk Mukellefler |
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TAX NO |
8310440672 |
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REGISTRATION NUMBER |
509013 |
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REGISTERED OFFICE |
Istanbul Chamber of Commerce |
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COMMERCIAL REGISTRY |
Istanbul Commercial Registry |
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DATE ESTABLISHED |
10.05.1996 |
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ESTABLISHMENT GAZETTE DATE/NO |
16.05.1996/4038 |
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LEGAL FORM |
Joint Stock Company |
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TYPE OF COMPANY |
Private |
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REGISTERED CAPITAL |
TL
250.000.000 |
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PAID-IN CAPITAL |
TL
250.000.000 |
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HISTORY |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
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SISTER COMPANIES |
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- TATCELIK CELIK SANAYII TICARET A.S. (
Origin: Turkey, Tax Number:
8310422308, Registration Number:
644424 ) - TATMETAL DEMIR CELIK IC VE DIS TICARET
LTD. STI. ( Origin: Turkey, Tax
Number: 8310421997, Registration
Number: 635012 ) |
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BOARD OF DIRECTORS |
Akin Tatoglu ( Chairman ) Hayrettin Yavuz ( Vice-Chairman ) Oktay Tatoglu ( Member ) Hayri Yavuz ( Member ) Fadil Demirel ( Member ) |
OPERATIONS
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BUSINESS ACTIVITIES |
Processing and wholesale trade of metal. |
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NACE CODE |
DJ.27.10 |
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SECTOR |
Metal |
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NUMBER OF EMPLOYEES |
400 |
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NET SALES |
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REMARKS ON NET SALES |
The sales figure 01.01.-31.03.2017 is
declared by the company. There is no certification for this figure. |
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IMPORT COUNTRIES |
Switzerland Germany Romania Russia China Ukraine U.K. |
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MERCHANDISE IMPORTED |
Hot-roll metal sheet |
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EXPORT VALUE |
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HEAD OFFICE ADDRESS |
Eski Uskudar Icerenkoy Yolu VIP Plaza No:10
K:11 D:12 Atasehir Istanbul / Turkey |
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BRANCHES |
Administrative Office/ Production
Plant : OSB. Yolu Uzeri 4. Km. Hamza Fakihli Koyu
Mevkii PK.34 Karadeniz Eregli Zonguldak/Turkey ( rented ) Processing Plant :
Bolucek Koyu Karadeniz Eregli Zonguldak/Turkey Processing Plant :
Organize Sanayi Bolgesi Karadeniz Eregli Zonguldak/Turkey Branch Office :
Melih Gokcek Bulvari 1112 Cad. Maxivedik Is Merkezi Kat:2 No:6 Ivedik
OSB Yenimahalle Ankara/Turkey Branch Office :
Ihsaniye Mah. Barbaros Cad. Kader Sok. No:1 Yerkaya Apt. K:3 D:5
Nilufer Bursa/Turkey |
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GENERAL INFORMATION ON OPERATIONS |
The firm has a high market potential. |
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TREND OF BUSINESS |
There was an upwards trend in 2015. Trend
of business was steady in 2016. |
FINANCE
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MAIN DEALING BANKS |
T. Is Bankasi Gebze Kurumsal Branch T. Is Bankasi Maltepe/Istanbul Branch Akbank
Asya Kurumsal Branch |
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PAYMENT BEHAVIOUR |
No payment delays have come to our
knowledge. |
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KEY FINANCIAL ELEMENTS |
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COMMENT ON FINANCIAL POSITION
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General Financial Position |
The firm is profitable.
The firm has a high amount of capital. The
liability of the shareholders is limited to the capital. |
CREDIT OPINION WITHOUT OBLIGATION
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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(
2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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(
2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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(
2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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(
2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
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(
2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
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(
2014 ) |
6,36 % |
2,1891 |
2,8989 |
3,6060 |
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(
2015 ) |
5,71 % |
2,7230 |
3,0254 |
4,1661 |
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(
2016 ) |
9,94 % |
3,0292 |
3,3349 |
4,1006 |
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(
01.01-31.03.2017) |
6,38 % |
3,6442 |
3,8753 |
4,5313 |
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(
2017 ) |
15,47 % |
3,6337 |
4,1120 |
4,7059 |
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(
01.01-30.04.2018) |
8,03 % |
3,8698 |
4,7268 |
5,3753 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.71 |
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1 |
INR 91.89 |
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Euro |
1 |
INR 79.89 |
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TRY |
1 |
INR 15.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
POJ |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.