MARC has affirmed the AA- long-term rating of Tirai Impresif Sdn Bhd’s (Tirai) RM100.0 million Medium Term Notes (MTN) Programme with a stable outlook. The affirmation is primarily based on the credit quality and performance of existing Government contract receivables assigned to the issue in respect of identified Government sponsored affordable housing schemes and the issue’s tight st...

The proposed 10-year Medium Term Notes (“MTN”) programme represents a structured transaction involving the assignment of contract proceeds due from Syarikat Perumahan Negara Berhad (“SPNB”), wholly owned by the Ministry of Finance Incorporated, to the Issuer, Tirai Impresif Sdn Bhd (“Tirai”); in respect of two contracts to supply and install roof tiles and gal...