MARC Ratings highlights that Alpha Circle Sdn Bhd has not made the principal payment on the outstanding Senior Sukuk Musharakah of RM60 million and Junior Sukuk Musharakah of RM55 million due on May 31, 2023. This is due to insufficient funds in the designated account.

We understand that sukukholders are likely to provide further indulgence on the repayments, failing which the sukuk ratings will be downgraded to the default rating of D_IS from its current ratings of C_IS.

Cyndy Goh, +603-2717 2941/ cyndy@marc.com.my

Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my