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MARC has withdrawn its rating of A-ID on OSK Property Holdings Bhd’s RM50 million Class B Serial Bai-Bithaman Ajil Islamic Debt Securities (Class B BaIDS) with immediate effect. The rating withdrawal follows the final redemption of its outstanding RM17.5 million on the Class B BaIDS on April 6, 2010 and cancellation of the facility, as confirmed by its facility agent, OSK Investment Bank Ber...
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MARC has affirmed its A-ID rating on OSK Property Holdings Berhad’s (OSKP) outstanding RM17.5 million Class B BaIDS. The rating carries a stable outlook. The rating affirmation and outlook reflect the company’s stable revenue generation from its ongoing developments, its sizeable land bank and its strong liquidity position relative to its near-term debt repayments. OSKP has continued t...
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MARC has withdrawn its AID rating on OSK Property Holdings Berhad’s (OSKP) RM50 million Class A BaIDS following the full redemption of the bonds on its maturity date of April 6, 2009. Concurrently, OSKP’s A-ID rating on its outstanding RM25 million Class B BaIDS has been affirmed. MARC has also revised its rating outlook to stable from negative. The affirmation and outlook revision ref...
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MARC has reaffirmed the ratings of OSK Property Holdings Bhd (OSKP)’s Class A and Class B BaIDS at AID and A- ID respectively. The ratings outlook is negative. The ratings reflect OSKP’s satisfactory performance of its development projects, in particular, Bandar Puteri Jaya (BPJ), strong shareholders support, moderate level of cash flow diversification and financial flexibility. Howeve...
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The rating of OSK Property Holdings Bhd (OSKP)’s Class A and Class B BaIDS has been reaffirmed at A ID and A- ID respectively with a negative outlook. The reaffirmation reflects OSKP’s strong presence in Sungai Petani, Kedah through its flagship development – Bandar Puteri Jaya (BPJ) and its stable operating profit margins. Moderating factors however include the soft property mar...
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MARC has affirmed the ratings of OSK Property Holdings Bhd (OSKP)’s Class A and B BaIDS at AID and A-ID respectively. The reaffirmation reflects OSKP’s strong presence in Sungai Petani, Kedah through its flagship development – Bandar Puteri Jaya (BPJ); its improving operating profit margins and the potential rental income from its proposed acquisition of Ke-Zan Holdings Bhd (KZH). The rating...
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MARC has received confirmation from the trustee that the Tranche No. 4 of OSKP’s BaIDS amounting to RM25.0 million had been redeemed on 20 May 2005, prior to its maturity date of 6 April 2011. The trustee had also confirmed that the early redemption is in order and complies with the trust deed. After the aforementioned redemption, the current outstanding BaIDS stands at RM75.0 million....
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MARC has affirmed the ratings of OSK Property Holdings Bhd (OSKP)’s Class A and B BaIDS at AID and A-ID respectively; reflecting OSKP’s strong presence in Sungai Petani, Kedah with its favourable flagship development – Bandar Puteri Jaya (BPJ) and improving financial performance; tempered by its vulnerability to adverse development in the property markets. The enhanced AID rating reflects se...
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MARC has assigned a rating of AID (A flat, Islamic debt) and A-ID (A minus, Islamic debt) to OSK Property Holdings Berhad (OSKP)’s Class A and B Serial Bai-Bithaman Ajil Islamic bonds (BaIDS) respectively. The A-ID rating assigned to Class B BaIDS reflects OSKP’s favourable flagship development – Bandar Puteri Jaya (BPJ) located in Sungai Petani, Kedah and its strong presence in that area; t...
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