MARC had on 7 April 2006 placed  the rating of the above issue on MARCWatch with a Negative Outlook. The action resulted from M-Trex’s failure to provide the necessary information for MARC to carry out its first annual surveillance review. Arising from MARC’s surveillance of the issue it has come to our attention that M-Trex is currently in breach of provisions under the Facility ...

MARC has affirmed EP Manufacturing Berhad’s (EPMB) short and long term ratings of MARC-2ID/AID respectively on its RM150.0 million MUNIF/IMTN; reflecting the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton Holdings Berhad (Proton) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), via its subsidiary; PEPS-JV (M) Sdn Bhd (PEPS-JV). Moderating factors include it...

The short and long-term ratings of Delloyd Ventures Berhad’s (“Delloyd” or the “Group”) RM100 million Islamic CP/MTN Programme at MARC-1ID/A+ID respectively reflect Delloyd’s strengthening financials against the backdrop of firm market leadership with regard to the Group’s automotive components and parts manufacturing business. Factors which may contribute...

MARC has placed Stenta Films (M) Sdn Bhd’s (“Stenta”) RM90 million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) on MARCWatch with a Negative Outlook. The action arises from Stenta’s intention to request for a further moratorium on principal repayment for another two years to September 2008 on the MUNIF facility thereby increasing refinancing risk, it...

MARC has affirmed Priceworth Wood Products Berhad’s (Priceworth) short and long term ratings of MARC-2/A respectively on its RM160.0 million Commercial Papers/Medium-Term Notes; reflecting the Group’s improving financials underpinned by growing timber extraction activity/contracting services coupled with expansion of its manufacturing facilities and better outlook of timber prices. The Group�...

MARC has placed Mithril Bhd’s (“Mithril”) RM59 million Redeemable Convertible Secured Loan Stocks (“RCSLS”) on MARCWatch with a Negative Outlook, with the likelihood of suspension if the relevant information is not provided within two weeks of this announcement. The initial rating of BBB was assigned in October 2003 and affirmed in December 2004. The action is due to Mithril’s failure...

MARC has placed Antara Steel Mills Sdn Bhd’s (“Antara”) RM500 million Bai’ Bithaman Ajil Islamic debt securities (BaIDS) on MARCWatch with Negative Outlook. Antara’s initial rating of A+ ID was assigned in August 2005. This action is based on Antara’s disclosure to MARC on 3 April 2006 on the shutdown of the groups HBI plant in Labuan since 31 October 2005 and the failure on the part o...

The long and short term ratings of AID/MARC-2ID assigned to Maxtral Industry Berhad’s (Maxtral) RM80 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) Facility and RM20 million Murabahah Underwritten Notes Issuance Facility/Murabahah Medium Term Notes Issuance Facility (MUNIF/MMTN) are underpinned by Maxtral Industry Berhad and its subsidiaries’ (Group) operating track record sup...

MARC has affirmed Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al- Bai’ Bithaman Ajil Islamic Debt Securities (“BaIDS”) at AID, underpinned by Tracoma Group’s proven track record as a Tier-1 local automotive component manufacturer coupled with its on-going expansion plans. Nonetheless, moderating factors to the rating include the Group’s exposure towards the automakers’ pe...

MARC has placed M-Trex Corporation Sdn Bhd’s (“M-Trex”)’s RM60.0 million Murabahah Commercial Paper on MARCWatch with a Negative Outlook. The initial rating at MARC-2 ID was assigned in September 2004. The action is based upon M-Trex’s failure, despite numerous requests, to provide the necessary information for MARC to carry out its first annual surveillance review. M-Trex is an investm...