MARC has placed the BBB+ID/MARC-3ID ratings of Evermaster Group Berhad’s (“EGB” or “the Group”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) on MARCWatch Negative following the Group’s failure to meet the RM7.5 million sinking fund payment due June 30, 2008. MARC has been unable to confirm whether the profit payment on the BaIDS had been made on its due date of June 30, 2008. The MARCWatch placement also incorporates the possibility of the ratings being downgraded to D in the event it is confirmed that EGB had missed its profit payment on June 30, 2008.

EGB’s first principal redemption of RM15.0 million on the BaIDS is due on December 30, 2008, of which RM7.5 million is required to be deposited into the sinking fund account six months, and the balance, three months prior to the redemption date. EGB has been granted an extension of two (2) months until August 31, 2008 by Prokhas Sdn Bhd, the sole BaIDS holder, to meet the sinking fund payment.