MIRA INFORM REPORT

Report Date :

1^st March, 2007

IDENTIFICATION DETAILS

Name :	RADIANT PEN CO.
Registered Office :	# 70/ 3, M. Wincent Perera Mawatha, Colombo-14.
Country :	Sri Lanka
Legal Form :	Proprietorship Company
Line of Business :	Manufacturers of Pens.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

GENERAL

Basic information at a glance

a.	Name of Subject of Inquiry	:	RADIANT PEN CO.
b.	Legal Form & Status	:	Proprietorship Company (In Operation)
c.	Proprietor	:	Mr. A. Sivanananthan
d.	Primary Line of Business	:	Manufacturers of Pens.
e.	Head Office	:	# 70/ 3, M. Wincent Perera Mawatha, Colombo-14. Tel. No: (00 94 11) 239 2807 Fax No: (00 94 11) 247 0571 E-Mail : radiant@sltnet.lk
f.	Factory	:	# 50, Udaya Mawatha, Sapugaskande.
g.	No. of Employees	:	Approximately 35

COMPANY DETAILS

Registration and Shareholder Details

a.	Registration No	:	-Not Disclosed-
b.	Date of Registration	:	- Not Disclosed-
i.	Auditors	:	- Not Disclosed-
k.	Bankers	:	- Not Disclosed-

CURRENT INVESTIGATION

History.

The Subject Company RADIANT PEN CO. is Proprietorship Company.

The subject company is a subsidiary company of RADIANT MARKETING (PVT) LTD; their business is distributors’ of pens.

Location.

The subject company’s Head Office is located at # 70/ 3, M. Wincent Perera Mawatha, Colombo-14.

The Subject Company’s Factory is located at the client given address # 50, Udaya Mawatha, Sapugaskande.

Operational Details.

Ø General

The subject company primary line of activity is Manufacturers of Pens.

The subject company claims that they are handling only the manufacturing process and they distribute to their parent company called RADIANT MARKETING (PVT) LTD.

Ø Products

Pens.

Ø Country

Sri Lanka

Ø Employees

The employee strength of the subject company is approximately 35 employees.

Financial Data

The company has declined to provide information on its finances

General Comments

The subject company when contacted and requested to interview the Managing Director, we were told that he is not available and many other follow up occasions we were unable to make contact with the managing director. We were also told that he has not given the approval to provide any information to prepare this report and to date there is no response whatsoever from the subject company. All information provided to complete this report was obtained from non-formal sources but clearly originating from the company.

Trade references

The subject company did not provide any trade reference referrals

Credit Recommendations

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions