MARC has downgraded with a negative outlook the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM272 million class B and RM226 million class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) asset-backed securities (ABS) facility from AID to BBB+ID and from A-ID to BBBID respectively. The downgrades reflect the prolonged construction delays experienced at the Taman Puncak Jalil developm...

MARC has downgraded the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM272 million and RM226 million of class B and class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) asset-backed securities (ABS) facility. The downgrades are premised on the construction delays experienced at the Taman Puncak Jalil development brought about by the repatriation of illegal foreign workers in the la...

MARC has affirmed the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM372 million and RM226 million of class B and class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) asset-backed securities (ABS) facility. The affirmations are premised on the increase in percentage of class A and B assets post closing, effectively mitigating credit risk; satisfactory construction progress resultin...