MARC has withdrawn its AA-ID rating assigned to SAJ Holdings Sdn Bhd’s (SAJH) RM1.28 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) with immediate effect and removed the rating from MARCWatch Positive. The rating withdrawal follows the successful completion of Pengurusan Aset Air Bhd’s (PAAB) acquisition of SAJH’s BaIDS in July 2009 and confirmation by Maybank Investment Bank Berhad, the facility agent, that the BaIDS have been returned and were cancelled on September 3, 2009.
 
Contacts:
Khairul Emran Mahmud / emran@marc.com.my;
Sandeep Bhattacharya / sandeep@marc.com.my