MARMARA OLIVE AGRICULTURAL SALES COOPERATIVES ASSOCIATION SUBSIDIARIES AND RECENT DEVELOPMENTS IN FINANCIAL LIABILITIES

Abstract

In this study, we aimed to reveal the financial liabilities of Marmara Olive Agricultural Sales Cooperative and its affiliates and the proportional effect level of the subsidiaries. As it is known, Marmara Olive Agricultural Sales Cooperatives Association (MOASCA) has formed a significant range of subsidiaries with other enterprises including insurance brokerage services within its own structure for the purpose of its own increasing capital and being higher its export potential. Together with the increases in the financial investment targets of the Association, this situation created a portfolio of financial liabilities where the increases in the financial debt limits increased further. In the study, the medium- and long-term financial impact level of these dynamics is questioned and the position of the financial investments within the scope of this liabilities of consolidation is emphasized. On the other hand, the recent restructuring of financial debts has also had a capital increase effect on the Marmara Olive Agricultural Sales Cooperatives. In this context, the structure of the protocol agreement with Ziraat Bank on loan-debt payments supporting capital increases has been also emphasized. In addition, it appears that the financial position in which trade receivables and payables are questioned in relation to the related parties in recent years have also been shown a meaningful structure especially in terms of Expense Accruals. However, the position of "Wage Debts" in particular is striking in terms of the liabilities provided to employees for this institution. Between 2016 and 2017, there is a decrease in wage arrears paid to employees. It can be said that the decrease in these financial liabilities item does not constitute a striking contribution scale in terms of the effects of the institution on capital increase.