MARC has withdrawn its A- ID rating on Prinsiptek Corporation Berhad’s (Prinsiptek) RM50.0 million Murabahah Medium-Term Notes Programme (MMTN) with immediate effect, following written confirmation from OSK Investment Bank Berhad that the facility was terminated on 25 January 2008. There were no previous issuances of notes under this facility.

MARC’s present rating obligation with respect to Prinsiptek is limited to its Murabahah Commercial Paper Programme (MCP) of RM30.0 million, which is currently rated MARC-2 ID. 

Prinsiptek is a public-listed company involved in building construction, property development and the trading of building materials.