Pursuant to MARC’s announcement dated 12 February 2007, a bondholders’ meeting was held on 16 February 2007. MARC was made to understand from the issuer and the trustee that the bondholders have agreed to extend the repayment dates for the Primary BaIDS as follows:-

Series 1 BaIDS – 30 September 2009;
Series 2 BaIDS – 31 March 2010; and
Series 3 BaIDS – 31 December 2010;

whilst the redemption of the Secondary BaIDS (RM3.86 million), which is due on 28 February 2007 will be paid as scheduled.
MARC will closely monitor the developments and will assess their impact on the current rating. Any ratings implications arising therefrom will be advised in due course.