MARC has affirmed the long and short-term ratings of WCT Engineering Berhad’s (“WCT’s”) Islamic Fixed Rate Serial Bonds of RM100 million and 7-year Islamic Commercial Papers/Medium-Term Notes Programme of up to RM100 million (“Islamic CP/MTN”) (collectively known as Islamic Securities or IS) at A+ID and MARC-1ID/A+ID  respectively with a stable outlook. The...

WCT Engineering Berhad’s (WCT) proposed additional indebtedness, primarily for its construction projects in Qatar will result in a higher debt level, rising from 0.7 times in FY2004 to 0.9 times currently. Whilst this level is marginally high for the current ratings of A+ID for long term and MARC-1ID for short term, it is moderated by WCT’s excellent record on its overseas projects to-date, ex...

MARC received written confirmation on 14 December 2005 from PB Trustees Berhad, the Trustee of WCTE`s Unsecured Bonds that the Unsecured Bonds were fully redeemed on 6 October 2005.Accordingly, MARC has withdrawn the rating of the Unsecured Bonds....

MARC has assigned ratings of A+ID and MARC-1ID/A+ID to WCT Engineering Berhad’s (“WCT”) proposed Islamic Fixed Rate Serial Bonds of RM100 million and 7-year Islamic Commercial Papers/Medium Term Notes Programme of up to RM100 million (“Islamic CP/MTN”) (collectively known as Islamic Securities or IS). Concurrently, we have also reaffirmed WCT’s existing RM120 million 5% Redeemable Unse...

MARC has upgraded the rating of WCT Engineering Berhad’s (WCT) RM120.0 million 5% Redeemable Unsecured Bonds with detachable warrants (2000/2005) from A(s) to A+(s). The rating upgrade is supported by the high cash coverage afforded to the outstanding bonds brought about by the accumulation of funds in the sinking fund account. The rating also reflects WCT’s strengthening financial profile and...

MARC has upgraded the rating of WCT Engineering Berhad’s (WCT) RM120.0 million 5% Redeemable Unsecured Bonds with detachable warrants (2000/2005) from A-(s) to A(s), based upon the strengthening financial profile of WCT, underpinned by the strong performance of its civil engineering/construction and property development divisions. The rating continues to be supported by a RM15 million irrevocabl...

The affirmation of WCT Engineering Bhd’s (WCT) corporate debt rating at A– (s) reflects the improving economic outlook, the group’s competitive position in the construction sector as evident by its ability to secure overseas construction projects, strengthening financial profile, conservative financial management and an experienced management team. The bonds issue is supported by an irrevoc...

The affirmation of WCT Engineering Bhd’s (WCT) corporate debt rating of A– (s) reflects the group’s competitive position in the civil engineering and building segment of the construction industry; good track record; improving financial profile; conservative financial management and an experienced management team. The bonds issue is supported by an irrevocable banking facility of RM15 milli...

WCT Engineering Bhd’s corporate debt rating of A– (s) [single A minus with support] reflects the group’s favourable and competitive position in the civil engineering and building segment of the construction industry, good track record and experienced management team. The issue is enhanced with the assignment of a sinking fund account which captures 10% of gross proceeds from identified cont...