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MARC has withdrawn the AA- (cg) rating assigned to WCT Land Berhad’s (WCT Land) RM132.0 million Convertible Redeemable Debt Securities (CRDS) with immediate effect following the full redemption and cancellation of the facility....
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MARC has upgraded its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL). The following ratings are affected: (1) WCT’s rating on its RM100 million Islamic Fixed Rate Serial Bonds has been upgraded to AA- ID from A+ ID, and its ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme have been upgraded to AA- ID/MARC-1 ID from A+ ID/...
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MARC has revised its rating outlook on its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL) to positive from stable. The following ratings are affected: (1) WCT’s A+ID rating on its RM100 million Islamic Fixed Rate Serial Bonds and its A+ID/MARC-1ID ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme, and (2) WCTL’s A+(c...
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MARC does not expect the acquisition by WCT Engineering Berhad (WCT) of the 35.17% stake in WCT Land Berhad (WCTL) which it does not own to have a meaningful effect on the corporate debt ratings of WCT and WCTL. WCT and WCTL have ratings of A+ID/MARC-1ID and A+(cg) respectively.On November 30, WCT announced that it had made a voluntary take over offer to acquire all the remaining shares in WCTL. I...
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WCT Land Berhad’s (“WCTL”) RM132 million Convertible Redeemable Debt Securities (“CRDS”) is affirmed at A+ (cg) with stable outlook. The rating reflects the credit support extended by its holding company, WCT Engineering Bhd (“WCTE”), which has sizeable construction order book, and improving business and financial risk profile. WCTL’s stand-alone cre...
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WCT Land Berhad’s (“WCTL”) RM132 million Convertible Redeemable Debt Securities (CRDS) is upgraded from A to A+ (cg) with a stable outlook to reflect the strength of the corporate guarantee provided by its holding company, WCT Engineering Bhd (“WCTE”). WCTE’s RM100 million Islamic Fixed Rate Serial Bonds initial A+ rating assigned by MARC in June 2005 has been a...
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MARC has affirmed WCT Land Bhd’s (WCTL) long-term rating at AID in respect of the RM132 million Convertible Redeemable Debt Securities (CRDS) reflecting the Group’s reputable position as a property developer coupled with its strong financial performance and promising cashflow generating capabilites. The moderating factor continues to be the vulnerability of the projects to adverse developments...
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MARC has been duly informed by WCT Land Berhad (WCTL) and the trustees of WCTL’s CRDS-A (rated A-flat by MARC) of the postponement of interest payment payable to the CRDS holders from 2 February 2005 to 7 February 2005 due to procedural delays. At the time of this announcement, the interest and late interest charges payable to the CRDS holders have been remitted into the relevant designated acco...
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MARC has assigned a rating of A (A flat) to WCT Land Berhad’s (WCTL) Convertible Redeemable Debt Securities (CRDS) of a nominal value of RM132 miliion. The CRDS will be utilised to part refinance existing advances from its major shareholder, WCT. As part of a corporate exercise involving the acquisition of Bescorp Industries Berhad (BIB) (Special Administrators appointed) by WCTL, WCT will in tu...
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