MARC’s ratings of A-ID (A minus, Islamic debt) and MARC2ID assigned to Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM55 million Al-Bai’ Bithaman Ajil (ABBA) and RM35 million Murabahah Underwritten Notes Issuance Facility (MUNIF) respectively, reflect the assignment of contract and warrant proceeds to the sinking funds for the redemption of the debt securities; the high entry barriers into the civil...