On 23 November 2006, MARC received confirmation from Malaysian Trustees Berhad that Tian Siang Holdings Sdn Bhd (Tian Siang) has made a full early redemption of its RM93 million nominal value coupon bearing serial bonds (Serial Bonds) on 22 November 2006. As such, MARC no longer has any rating obligation on the Serial Bonds and the A (A Flat) rating is hereby withdrawn.