MARC has withdrawn its AA+ID rating on Ample Zone’s RM50.0 million Class A Sukuk Al-Ijarah (Sukuk) with immediate effect following its full redemption on 18th January 2008. Approximately RM9.52 million of Class B Sukuk was also redeemed on the same date. The early redemption for Class A and a portion of Class B Sukuk follows completion of the disposal of Wisma Talam, one of four securitized properties under the transaction, to Hospital Pantai Indah Sdn Bhd for RM63.5 million. MARC’s rating obligation in respect of Ample Zone’s RM150.0 million Sukuk Al-Ijarah is now limited to the outstanding RM14.5 million Class B and RM75.0 million Class C Sukuk, which carry AID and BB-ID ratings respectively.

As of 22 January 2008, balances in the Collection Account, Sub-Lease Collection Accounts and Sukuk Profit Reserve Account are RM1.2 million, RM3.6 million and RM12.2 million respectively. The aggregate cash balance in the abovementioned accounts totalling RM17.0 million is more than sufficient to cover the forthcoming Class B Sukuk redemption of RM1.2 million on 28 January 2008 and the next two profit payments (in January 2008 and June 2008) totalling RM8.0 million. MARC is currently reviewing the ratings on Ample Zone’s Class B and Class C Sukuk and expects to make the relevant rating announcements in the next two months.