MARC has removed Kinsteel Berhad’s (Kinsteel) CID rating on the RM100 million Murabahah Medium Term Notes (MMTN) programme from MARCWatch Negative where it had been placed since July 15, 2013. The CID rating on the MMTN programme is maintained. The outstanding amount under the MMTN programme is RM50 million, with the next payment of RM10 million due on September 5, 2014. The CID rating denotes a substantial risk of default.

Contacts:
Ngiam Tee Wei, +603-2082 2268/ teewei@marc.com.my;
Taufiq Kamal, +603-2082 2251/ taufiq@marc.com.my.