Friday, Apr 07, 2006
MARC has placed M-Trex Corporation Sdn Bhd’s (“M-Trex”)’s RM60.0 million Murabahah Commercial Paper on MARCWatch with a Negative Outlook. The initial rating at MARC-2 ID was assigned in September 2004. The action is based upon M-Trex’s failure, despite numerous requests, to provide the necessary information for MARC to carry out its first annual surveillance review.
M-Trex is an investment holding company with interests in the manufacturing and sale of anodised surface treated panels for the audio and video equipment and the trading of replacement and consumable parts for the automobile and semi conductor industries. The manufacturing and trading activities of M-Trex are undertaken by its wholly-owned subsidiaries Jooei Industry (Malaysia) Sdn Bhd (JISB), and M-Trex Malaysia Sdn Bhd (MMSB) respectively.
MARC has given M-Trex two weeks to fulfil the information requests. Developments affecting M-trex will be closely monitored and any rating implications will be disseminated in due course.
M-Trex is an investment holding company with interests in the manufacturing and sale of anodised surface treated panels for the audio and video equipment and the trading of replacement and consumable parts for the automobile and semi conductor industries. The manufacturing and trading activities of M-Trex are undertaken by its wholly-owned subsidiaries Jooei Industry (Malaysia) Sdn Bhd (JISB), and M-Trex Malaysia Sdn Bhd (MMSB) respectively.
MARC has given M-Trex two weeks to fulfil the information requests. Developments affecting M-trex will be closely monitored and any rating implications will be disseminated in due course.