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MARC Ratings has withdrawn its rating of CIS on Talam Transform Berhad’s (Talam) RM134.2 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS). The rating withdrawal follows the full redemption of the outstanding RM18 million under the Settlement BaIDS as announced on the BNM FAST website.Upon the redemption, MARC Ratings will no longer provide analytical coverage on Talam....
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MARC has maintained its CIS ratings on property developer Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS) as of June 9, 2021. The rating continues to reflect the substantial risk of default on the Settlement BaIDS, notwithstanding the extension of the maturity date of Talam’s Settlement BaIDS by 18 months to June 2...
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MARC has maintained its rating of CIS on Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 5, 2020. Under the restructuring exercise undertaken by Talam in March 2019, the maturity date of the Settlement BaIDs was extended by 18 months to December 28, 2020 from June 28, 2019.The rating considers Talam's weak...
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MARC has maintained its CIS rating on Talam Transform Berhad’s (Talam) outstanding RM45.6 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 27, 2019.
The rating action considered the extension of the maturity date of the Settlement BaIDs by 18 months to December 28, 2020 from June 28, 2019. The distressed restructuring exercise was undertaken as Talam w...
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MARC has downgraded Talam Transform Berhad’s (Talam) RM134.2 million Settlement Bithaman Ajil Islamic Debt Securities (BaIDs) rating to CIS from B-IS.
The downgrade reflects the increased uncertainty of Talam’s ability to meet its upcoming final BaIDs payment of RM52.1 million on June 28, 2019. Talam has been undertaking asset disposals, particularly land parcel sales in the Klang Valley...
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MARC has affirmed its rating of B-IS with a stable outlook on Talam Transform Berhad’s (Talam) outstanding RM52.1 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs). The affirmed rating continues to reflect Talam’s weak business and financial profile and its reliance on asset disposals to meet financial obligations.
During the period under review, Talam’s asset...
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MARC has affirmed its rating on Talam Transform Berhad’s (Talam) outstanding RM52.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-IS with a stable outlook. The rating reflects the group’s weak financial position, its limited business prospects as well as its continued reliance on timely asset disposals to meet its substantial financial obligations.
Talam’s ca...
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MARC has affirmed its rating on Talam Transform Berhad’s (Talam) outstanding RM53.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-ID with a stable outlook. The rating incorporates Talam’s weak financial position and limited business prospects, as well as its continued reliance on timely asset disposals to meet substantial financial obligations.
Talam’s borrow...
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MARC is issuing this rating update as part of its ongoing surveillance on Talam Transform Berhad's (Talam) Settlement Bithaman Ajil Debt Securities (Settlement BaIDs). MARC notes that Talam’s wholly-owned subsidiary, Ample Zone Sdn Bhd (Ample Zone), has now fully settled its Sukuk Al-Ijarah obligations on which the company missed principal payments in January 2012. With this full settlement ...
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