MARC has received confirmation from Malaysian Trustees Berhad, the Trustee of Perak-Hanjoong Simen Sdn Bhd’s RM698.0 million Al-Bai’ Bithaman Ajil Secured Serial Bonds, that the bondholders of the bank-guaranteed tranches (TrancheS I – IV) have been paid in full by the bank guarantors. As such, MARC no longer has any rating obligation on the said tranches and the ratings are hereby withdrawn.

For the non-guaranteed tranche (Tranche V), MARC continues to place the rating on watch.