Monday, July 18, 2022

Journalist Vahap Munyar explained. Tremendous growth through trustee-appointed companies

Dünya newspaper’s Vahap Munyar has compiled the latest status of companies for which trustees have been appointed after FETO’s insidious coup attempt, as a result of the information he received from SDIF President Fatin Rüştü Karakaş.

Here is the information transmitted by Vahap Munyar:

“On the occasion of July 15, the Day of Democracy and National Unity, I asked the President of the Savings Deposit Insurance Fund (TMSF), Fatin Rüştü Karakaş, to get an update on the companies appointed as trustees after the treacherous attempted coup became FETO.

Vice President İsmail Güler sent the information note prepared by Karakaş. The following general information has been included in the information note:

TMSF is acting as a trustee for 679 companies from 36 provinces as part of the investigation into the FETO coup attempt. The SDIF has also been appointed as a stock trustee for 98 companies and as a trustee for the estate of 100 individuals. The information note noted that 39 companies for which SDIF was appointed trustee as part of the Iron Fist Operation are not included in these figures: The trust decision for 518 of the companies for which SDIF was appointed trustee by a judge – and court decision has so far been overturned. It was reported that the liquidation and deletion procedures of 89 companies were initiated: the liquidation of 30 companies was completed, they were deleted from the commercial register. Data from 679 companies at the time of transfer and this year was shared:

At the time of the transfer to the SDIF (mainly in 2016), its assets were 40.9 billion lire. On March 31, 2022, it grew by 125 percent and reached 91.9 billion lire. Total equity grew 100 percent, from 17.5 billion liras to 35.12 billion liras. While the company’s revenue as of 12/31/2020 was 35.37 billion liras, it grew by 42 percent to reach 50.25 billion liras. During the same period, their profits rose 29 percent, rising from 3.11 billion liras to 4.02 billion liras. Currently 33,000 41 people are employed in 679 companies. The information note recalled that about 6 years have passed since the adoption of Legislative Decree n. 674 (Law n. 6758) that regulates the appointment of the SDIF as trustee: the procedures regarding these companies are still ongoing. Companies are run like ordinary merchants and attempts are made to bring them into the national economy.

“THE STAGE WAS SIGNED”

The capital needs of companies exist for reasons such as R&D, innovation, adaptation to developing technologies, competitiveness with the lowest costs, capacity increase and renewal of production tools. The following point was made: although these companies appear to be financially viable, it is observed that the current situation is jeopardizing the assets, ability to maintain/increase profitability and hence the viability of the companies. The door opened by the new law was highlighted: the amendment aims to protect the values ​​of companies and meet their capital needs in order to ensure the continuity of employment and production with regard to the country’s economy. It can be seen that 679 companies are run under the SDIF’s trusteeship with a certain pace of success. However, the SDIF particularly emphasizes that it is not healthy for companies to be managed with a trust model for many years. The new law has paved the way for companies to be sold through transparent tenders.

The change in the data of Erciyes Anadolu Holding (formerly Boydak Group), known with Istikbal, Bellona and Mondi brands, in the TMSF information note was disclosed as follows: While the asset size was 8.47 billion TL as of September 2016, the transfer date, it grew by 205 percent, by March 31, 2022. reached 25.85 billion lire. Total equity grew 129 percent, rising to 14.85 billion liras from 6.47 billion liras.

The group’s revenue as of Dec. 31, 2020 was 13.64 billion liras, up 53 percent from Dec. 31. In 2021, it reached 20.85 billion lira. Profit rose 62 percent from 1.63 billion liras to 2.65 billion liras. The holding company employs 13,192 people. It was emphasized that it was ensured that each brand within the company had a production line with its own name.

Istikbal: There is a production area of ​​420,000 square meters. It has 654 branches in Turkey and 158 branches abroad. It exports $60 million annually to 56 countries.

Bellona: There is a production area of ​​350,000 square meters. It has 596 branches in Turkey and 61 branches abroad. It exports $27 million to 50 countries.

Mondi: There is a production area of ​​102,000 400 square meters. It serves with 358 shops. Its annual export is 4.1 billion lire.

It was noted that separate companies were formed for some activities within the body.

Doğu Home was established for home textiles: some of Boyteks’ businesses were split into new companies called Weavers Tekstil, Elda Halı and Velteks Fabric. Elda produces under the Gümüşsuyu brand.

KOZA GROUP PRODUCES 7.7 TONNES OF GOLD

Koza Group data is summarized in the TMSF information note as follows:

While the assets size of Koza-İpek Group companies was 5.34 billion liras as of September 2016, it reached 17.83 billion liras as of March 31, 2022, up 234 percent.

Its shares grew 192 percent, rising from 5.1 billion liras to 14.89 billion liras.

While revenue was 3.35 billion lira as of Dec. 31, 2020, it grew by 26 percent to reach 4.21 billion lira as of Dec. 31, 2021.

Profit rose 62 percent from 2.05 billion liras to 3.31 billion liras. Koza Gold is stated to have 5 active gold mines in Turkey: Koza Gold, which holds 112 operating licenses and 122 mining exploration licenses, produced 245,597 ounces (7.7 tons) of gold and 85,600 ounces of silver in 2021. Aydınlı caught 5.9 billion lira

In the TMSF information note, Cacharel, Pierre Cardin and US Polo Assn. The following details about Aydınlı Group which has brands of The group has 660 branches including 291 abroad. 381 branches belong to the group, the rest are dealers.

In January 2017, the wealth size was 2.44 billion liras, as of March 31, 2022, it increased to 5.95 billion liras, growing 144 percent. Equity grew by 337 percent to 3.11 billion lire. Revenue, which was 2.15 billion lire as of Dec. 31, 2020, reached 3.64 billion lire as of Dec. 31, 2021, with an increase of 69 percent.

His profit, which was 1 million lira, reached 421 million lira. Exports in 2021 were $62.5 million.

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