MIRA INFORM REPORT

Report Date :

28.02.2011

IDENTIFICATION DETAILS

Name :	THE UNICORN GROUP

Registered Office :	Unicorn House, M.C.F. 1-5, Khayaban-e-Iran, Clifton, Karachi

Country :	Pakistan

Year of Establishment :	1990

Legal Form :	Group of Companies

Line of Business :	Diversified Business activities including Fertilizers, Commodities, Textiles, Chemicals etc

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

THE UNICORN GROUP

Full Address

Registered Address

Unicorn House, M.C.F. 1-5, Khayaban-e-Iran, Clifton, Karachi, Pakistan

Tel #	92 (21) 35870923, 35871168, 35871169
Fax #	92 (21) 35870674
Email	akbuni@super.net.pk

Short Description Of Business

a.	Nature of Business	Engaged in diversified business activities including Fertilizers, Commodities, Textiles, Chemicals etc
b.	Group Formed	1990

Branches

In Lahore at present

Legal Status

Subject Group of Companies was formed in 1990

Group’s Management

Names

Nationality

Address

Occupation

Designation

Mr. Sheikh Ali Baakza

Mr. Zain Sardar

Mr. Abdul Kalim Baakza

Pakistani

Unicorn House, M.C.F. 1-5, Khayaban-e-Iran, Clifton, Karachi

Trading Business

Group Chairman

Group Director

Group Companies

· Ace International (Pvt) Limited, Pakistan.

· North Star International (Pvt) Limited, Pakistan.

· Unicorn Commodities (Pvt) Limited, Pakistan.

· Unicorn Art Gallery, Pakistan.

Business Activities

Subject Group is engaged in diversified business activities including Fertilizers, Commodities, Textiles, Chemicals etc.

It purchases against L/C, D/A, D/P basis.

It sells against Cash / Credit terms.

Its’ major customers are Chemical Manufacturers, Fertilizer Manufacturers, Food Companies etc

Subject operates from caption leased office premises of area measuring 500 Sq. Yards which is situated at residential + commercial area.

Subject employs about 60 persons in its set up.

Group Trade Suppliers

(Foreign)

Mainly import from European Countries, China, U.K., U.A.E., India, Singapore, Malaysia & Indonesia

Annual Sales Volume

Year	In Pak Rupees
2009	100,000,000/- (Estimated)

Bankers

· Bank Alfalah Limited, Pakistan.

· MCB Bank Limited, Pakistan.

· Bank Al-Habib Limited, Pakistan.

· Standard Chartered Bank, Pakistan.

· Askari Bank Limited, Pakistan.

Group’s Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.40
UK Pound	1	Rs. 137.14
Euro	1	Rs. 116.80

Comments

Subject Group was established in 1990 and is engaged in diversified business activities including Fertilizers, Commodities, Textiles, Chemicals etc. Group Market reputation is good. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.73.25
Euro	1	Rs.62.68

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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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.