ADVERTISEMENT

Business

How have the companies complied with the new terms of the TL loan?

ADVERTISEMENT

As the Banking Regulatory and Supervision Agency continued its measures to strengthen financial stability by banning lira lending to companies with high cash holdings in foreign currencies, valuations began to come from companies.

Here are the comments of the companies after the BRSA decision …

BİM

Such interventions are likely to cause short-term fluctuations rather than stability in most markets, particularly the foreign exchange market. This situation undermines the confidence of companies and investors and reduces predictability for all types of investment plans. Problems that require a macro perspective cannot be solved with micro methods. Micromethods can only complement the main strategy for the sake of consistency. The expectation of the markets is predictability and confidence.

In our company, FX cash assets are quite high at the level of “10 percent of last year’s net revenue” which is one of the settlement criteria. underis. Therefore, the limitations imposed by the regulation do not directly affect our company. Furthermore, we continued our business as a company that does not use credit in general; This situation is likely to continue.

Ayen Energy

You must have foreign currency on hand for your future foreign currency liabilities. Especially in energy companies, there are as many liabilities as there are assets. In such a period, our access to TL loans shouldn’t be limited. A wrong application puts the industry in trouble. The regulation needs to be amended.

Carsan

There are currently no obstacles to our operations. The three articles do not apply to us at the same time. Above all 10 percent of the asset size can rule out many companies.

If we were in this situation we would proceed as follows

1- Prepay from suppliers and get extra discounts from suppliers and reduce costs

2- Secure currency deposit – short term

3- Eurobonds – medium and long term

Ittifak Holding

Since all current bank deposits in our company’s most recent balance sheets are in TL, the BRSA’s decision, dated 24.06.2022, restricting the use of TL denominated loans for companies whose foreign currency cash assets exceed 15 million TL in TL, has no effect on our company’s assets and balance sheet should have no effect.

Usak Ceramics

The BRSA decision dated 24.06.2022 and numbered 10250 is expected to have no impact on our company’s TL loan utilization, cash flow and manufacturing operations.

Selva food

As the Turkish Lira equivalent of foreign currency cash assets in our company’s most recent financial statements is more than TL 15 million, our foreign currency cash assets do not exceed 10 percent of total assets or revenues net sales of last year 1 and in our company’s cash flow in 2023 and since the use of the loan and the injection of resources from TL are not included in their financial planning; The BRSA’s decision to restrict the use of TL loans, dated 24.06.2022, is expected to have no impact on our Company’s assets and balance sheet.

Imas machinery

As the Turkish Lira equivalent of foreign currency cash assets in our company’s most recent financial statements is more than TL 15 million, our foreign currency cash assets do not exceed 10 percent of total assets or revenues net sales of last year 1 and in our company’s cash flow in 2023 and since the use of the loan and the injection of resources from TL are not included in their financial planning; The BRSA’s decision to restrict the use of TL loans, dated 24.06.2022, is expected to have no impact on our Company’s assets and balance sheet.

Turkish pharmaceutical products

Since all current bank deposits in our company’s most recent balance sheets are in TL, the BRSA’s decision to limit the use of TL-denominated loans for companies whose foreign currency cash assets exceed TL 15 million, dated 24.06, should have no effect.

Commercial ATP computer

Although the TL equivalent of foreign currency cash assets (including gold, effective foreign currency and foreign currency deposits in banks) included in our company’s current balance sheet is greater than TL 15 million due to the consolidation effect of the our foreign subsidiary, the current company the cash position is strong and we have achieved the expected operating performance, as it can obtain the liquidity it needs from operating activities; The BRSA’s decision to restrict the use of TL loans, dated 24.06.2022, is expected to have no impact on our Company’s assets and balance sheet.

– Company explanations will be added to news as it arrives

ADVERTISEMENT

Leave a Comment