MARC continues to maintain MK Land Holdings Bhd’s (MK Land) BBB+ rated RM60.0 million outstanding bonds on MARCWatch Negative. The company was first placed on MARCWatch Negative on May 7, 2008 due to liquidity concerns following the deferment of scheduled payments to build up its sinking fund account. MK Land has since met the timeline to place RM30.0 million into the sinking fund account be...

MK Land Holdings Berhad’s (MK Land) RM300 million Serial Bonds Tranche 1 and 2 rating has been downgraded from A- to BBB+. The rating outlook is developing. The rating downgrade reflects its weakening business and financial risk profile, in particular of its lower take up rate in its Damansara Perdana and Damansara Damai developments, MK Land’s weak profitability measures, as well as c...

The ratings of MK Land Holdings Berhad’s (MK Land) RM300 million Serial Bonds Tranche 1 and 2 have been downgraded to A- with a negative outlook. The downgrade is premised on weaker sales from the Group’s Damansara Perdana and Damansara Damai projects which have contributed to declining profits and margins and the soft property market outlook. The Negative Outlook reflects the challe...

The rating of MK Land Holdings Berhad’s (MK Land) tranche 1 and tranche 2 serial bond ratings have been downgraded to A reflecting the the vulnerability of the projects to developments in the local property market ; lower than expected take up rates of its recent launches in Damansara Damai (DDamai) and Damansara Perdana (DPerdana) projects, (from which the sales proceeds have been assign...

The rating of MK Land Holdings Berhad’s (MK Land) tranche 1 and tranche 2 serial bond ratings have been upgraded to A+ which reflects the company’s excellent business position, its strong financial position and the impressive performance of Damansara Damai (DDamai) and Damansara Perdana (DPerdana) projects, of which the sales proceeds have been assigned for the redemption of the bo...