MARC has revised its outlook on PECD Berhad’s (PECD) RM200 million serial fixed rate bonds to Negative from Developing following PECD’s announcement to Bursa Malaysia on 6 July 2007 that its wholly owned subsidiary, Peremba Construction Sdn Bhd (PCSB) had been served notices of termination of employment for contracts under its Oceana Development, Palm Jumeirah Project in Dubai, United ...

Ratinale The corporate debt rating of PECD Berhad’s (PECD) RM200 million Serial Fixed Rate Bonds Programme has been downgraded from A to A- with a stable outlook. The rating reflects MARC’s concerns over cost overruns and the unsettled variation order (VO) claims for the Melut Basin Marine Export Terminal Project in Sudan, which has weakened the Group’s financial profile. These r...

PECD Berhad’s (“PECD or the Group”) proposed Serial Fixed Rate Bonds Programme (“Serial Fixed Rate Bonds”) of RM200 million have been assigned a long-term rating of A. Proceeds from the issuance of the Serial Fixed Rate Bonds will be utilised towards the refinancing of the Group’s subsidiaries bank borrowings and for general working capital and investment requ...