Evermaster Group Berhad’s (“EGB” or “Group”) A- ID and MARC-2ID/A- ID ratings on its RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (MONIF) remain on MARCWatch Negative where they had been placed since July 13, 2007. The MARCWatch Negative reflects the Group’s working capital ...

MARC has lowered its rating on Ingress Sukuk Berhad’s (ISB) RM160 million Sukuk Al Ijarah Issuance to AIS from A+ IS, and removed it from MARCWatch Developing. The outlook for the rating is stable. The downgraded rating reflects Ingress Corporation Berhad’s (“Ingress” or “the Group”) deteriorating profitability and the breach of its debt-to-equity covenant, resu...

M-Trex Corporation Sdn Bhd’s (M-Trex) MARC-3ID rating on its RM60.0 million Islamic Commercial Paper Programme (ICPs) remains on MARCWatch Negative where it had been placed on September 14, 2007. MARC is unable to resolve the MARCWatch placement as the resolution of covenant breaches is contingent on the restructuring of its existing borrowings which is expected to be completed only in early...

MARC has placed its AID /MARC-2ID  ratings on Emas Kiara Industries Bhd’s (EKIB)  RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) on MARCWatch Developing. The action follows EKIB’s announcement on November 27, 2007 that the Company had entered into a conditional sale and purchase agreement to acq...

MARC has upgraded KNM Capital Sdn Bhd’s (KNMC) long-term rating from A+ID  to AA- ID, and reaffirmed its short-term rating at MARC-1ID with respect to KNMC’s RM300.0 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium-Term Notes (MUNIF/IMTN). The rating carries a stable outlook.  KNMC is a wholly-owned subsidiary of KNM Group Berhad (KNM) and serves as the...

MARC has revised the MARCWatch status on the MARC-2/A ratings of Axis Incorporation Berhad’s (Axis) RM100.0 million Commercial Papers / Medium-Term Notes Programme (CP/MTN) upon completion of its annual review, from Negative to Developing. The revision in MARCWatch status reflects an anticipated refinancing of the CP/MTN facility with bank borrowings by end 2007. The Company is at an advance...

MARC has reaffirmed the A+ID /MARC-1ID ratings of Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance / Islamic Medium Term Notes Facility. The rating outlook is stable. The reaffirmed ratings reflect the group’s consistent financial performance and its competitive position in the supply of high density polyethylene (HDPE) engineering products to the water and s...

The rating of Leader Universal Holdings Berhad’s (Leader) RM150.0 Million Murabahah Medium-Term Notes Issuance Programme has been reaffirmed at AID. The rating outlook has been revised to developing from stable. The affirmed rating reflects the Group’s moderate and steadily improving operating margins in the cable and wire industry which is presently challenged by rising raw material p...

MARC has affirmed its MARC-2ID/AID ratings of EP Manufacturing Berhad’s (“EPMB” or “the Group”) Murabahah Notes Issuance Facility/ Islamic Medium-Term Notes Facility of up to RM150 million and up to RM120 million. The ratings outlook is developing. The affirmed ratings reflects EPMB’s recent positive earnings trends and increased likelihood that it will be able ...

Ingress Sukuk Berhad’s (Ingress) A+IS rating on its RM160.0 million Sukuk Al Ijara Issuance Programme remains on MARCWatch Developing pending the completion of MARC’s annual rating review. The rating has been placed on MARCWatch Developing since July 30, 2007 as a result of a breach in the Debt to Equity Ratio according to the Ijarah Agreement dated 1 July 2004. MARC expects to complet...