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MARC has withdrawn the MARC-3 rating assigned to Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM50 million Murabahah Multi-Option Notes Issuance (MONI) Facility with immediate effect, following confirmation by PMSB that the MONI Facility has been paid in full. ...
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MARC has downgraded the short term rating of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM50 million Murabahah Multi-Option Notes Issuance (MONI) Facility from MARC-2ID to MARC-3ID. The downgrade reflects rating concerns arising from developments with respect to ABRAR Discounts Berhad, the principal underwriter of the MONI facility. Rating concerns primarily include increased refinancing risk as a...
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MARC has reaffirmed Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM50 million Murabahah Multi-Option Notes Issuance (MONI) Facility at MARC-2ID/A-ID (A minus, Islamic Debt). The ratings reflect the support provided by the irrevocable and unconditional corporate guarantee granted by PMSB’s holding company, Mitrajaya Holdings Berhad (MHB) a company listed on the main Board of Bursa Malaysi...
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MARC has received confirmation from the facility agent that Pembinaan Mitrajaya Sdn Bhd’s RM55 million BaIDS has been fully redeemed. As such, MARC no longer has any rating obligation on the bonds and the A-ID rating is hereby withdrawn....
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MARC has affirmed Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC 2ID reflecting the strength of the issue structure, which includes the assignment of contract proceeds for the purpose of redeeming the MONI and BAIDS facilities; its relatively good business position and proven track record which enable the company to sustain its...
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MARC has received confirmation from the Facility Agent that PMSB’s MUNIF Notes have been fully redeemed by PMSB and cancelled accordingly. Hence, MARC no longer has any rating obligation on PMSB’s MUNIF Facility and the MARC 2-ID rating is hereby withdrawn....
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Pembinaan Mitrajaya Sdn Bhd’s (PMSB) ratings reflect the strength of the issue structure, which includes the assignment of contract proceeds for the purpose of the redemption of the Murabahah Multi-Option facility; its good track record and the group’s competitive position, improvement in economic outlook; and the company’s improving financial position. The ratings are, however, moderated b...
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The reaffirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC-2ID reflect the assignment of contract proceeds for the purpose of redemption of the ABBA and MUNIF facilities; the strength of the issue structure; its good track record; its competitive position; improvement in economic outlook; and the company’s improvin...
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The reaffirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC 2ID reflect the improvement in economic outlook and the company’s improving financial position and the assignment of contract proceeds and warrants proceeds of PMSB’s public listed holding company for the purpose of the redemption of the ABBA and MUNIF fa...
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The affirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) Islamic debt ratings reflect the assignment of specific contract proceeds for the purpose of the redemption of the ABBA and MUNIF facilities; manageable risks associated with its various projects; and the company’s improving financial position. These factors are, however, tempered by the slow-down in the general economy; continued excess...
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