MARC has downgraded the long- and short-term ratings of wood-based product manufacturer Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF) to BB-ID and MARC-4ID from BBB-ID and MARC-3ID respectively. At the same time, EGB’s ratings were removed from MARCWatch Negative ...

Evermaster Group Berhad’s (EGB) long term rating has been downgraded to A-ID, with its short term rating affirmed at MARC-2ID. This is premised on the Group’s continued deteriorating profitability over the last two financial years as a result of escalating cost of sales due to the rising costs of diesel and obtaining supply of timber logs. This was aggravated by the bad debts written...

Evermaster Group Berhad’s (EGB) rating has been affirmed at AID, in view of its expanding activities into government-related construction works and its high operational integration with regard to the wood-based activities supported by its long operating track record. Moderating factor to the rating is the Group’s exposure to cyclical developments in the timber/wood-based industry and...

The ratings assigned are based on Evermaster Group Berhad (EGB)’s expanding activities into government-related construction works, its high operational integration with regard to the wood-based activities and going forward, its focus on downstream higher value-added products.   Other positive factors include the company’s long operating track record and financial performance,...