MIRA INFORM REPORT

Report Date :

13.08.2012

IDENTIFICATION DETAILS

Name :	UNGA FARM CARE E.A. LIMITED
Registered Office :	L.R. No.209/4393/21, Deloitte Place, Waiyaki way, Muthangari.
Country :	Kenya
Date of Incorporation :	21.12.1937
Com. Reg. No.:	C.746
Legal Form :	Private Limited Company
Line of Business :	Manufacturer of Poultry feeds, Cattle feeds, Pig feeds, Mineral supplements
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Kenya	B1	B1

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

BUSINESS PROFILE

Company Name (legal name)	UNGA FARM CARE E.A. LIMITED
Date of Incorporation	21^st December 1937
Registered No.	C.746
Registered Address	L.R. No.209/4393/21, Deloitte Place, Waiyaki way, Muthangari.
Legal Form (General)	Private limited company
Head Office Address	Dakar Rd, Industrial Area P.O. Box 41788-00100 Nairobi Kenya
Tel No	+254206536356
Fax No	+25420543676/+25420535625
E-mail	ungafeeds@unga.com
Website	None

SHAREHOLDING DETAILS

MAJOR SHAREHOLDERS

NAME	SHARES	NATIONALITY
Unga Holdings Ltd P.O. Box 30386 – 00100 Nairobi Kenya	2,114,999	Kenyan
Unga Group Ltd, P.O. Box 30386 – 00100 Nairobi Kenya	1	Kenyan
Total	100%	-

2.1 BOARD OF DIRECTORS:

NAME	NATIONALITY
Jeremiah Gitau Kiereini	Kenyan
Richard Kemoli	Kenyan
Alan Mc.Kittrick	Kenyan
Andrew Steward Ndegwa	Kenyan
Steven Bresky	American
David Dannov	American
Nicholas Hutchinson	British
James Gutsch	British

MANAGEMENT PROFILES

MANAGEMENT

#1

First name	Nicholas	Last Name	Hutchinson
Nationality	British	Job Description	Group Managing Director
Other details	The subject is the group managing director of the Unga Holdings ltd.

#2

First name	Andrew Steward	Last Name	Ndegwa
Nationality	Kenyan	Job Description	Director
Other details	The subject also serves as a director of Unga holdings Ltd.

FINANCIAL COMPARATIVES

The financial statement of the subject could not be obtained due to refusal by the subject’s principal to disclose information citing constraints by the company’s policy.

Financial Analysis

ROC Status	Undetermined
RecFin	Undetermined
Credit Amount	Undetermined

BANK DETAILS

Bank Name :	Kenya Commercial Bank
Address :	P.O. Box 48400-00100 Nairobi Kenya

COMPANY SECRETARY

Name :	John Lucks Gwaro Maonga
Address :	P.O. Box 30029 – 00100 Nairobi Kenya

BUSINESS OPERATIONS

Industry	Manufacturer
Main Products & Services	1. Poultry feeds, 2. Cattle feeds, 3. Pig feeds, 4. Mineral supplements

COMMENTS & OBSERVATION

Comments

Additional information (Public Information)

The subject is legally registered and domiciled in Kenya. The subject was formally registered as Unga Feeds ltd before it changed name to Unga Farm Care E.A. Ltd. The subject is a subsidiary of Unga holdings Limited.

Source

Source

-Registrar of Companies -National directories -Regulatory authorities -Subject’s principal

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.34
UK Pound	1	Rs.86.45
Euro	1	Rs.68.43

INFORMATION DETAILS

Report Prepared by :

MNL

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
----	NB	New Business	----

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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