MARC has withdrawn its AAAIS, AAIS and AAAIS(bg) ratings on ABS Logistics Berhad’s (ALB) Senior Sukuk Ijarah comprising RM100.0 million of Class A, RM20.0 million of Class B and RM40.0 million of Class C sukuk respectively. The withdrawal follows the early redemption of all outstanding amounts under the aforementioned sukuk ijarah on November 12, 2013. ALB is a special purpose vehicle of Tiong Nam Logistics Holding Berhad and was formed to acquire a portfolio of warehouse properties from its parent.

Upon the withdrawal of the ratings, MARC will cease all analytical coverage on ALB.

Contacts:
Ng Chun Kean, +603-2082 2230/ chunkean@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.