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MARC has withdrawn its rating of MARC-2ID on Prinsiptek Corporation Berhad’s (Prinsiptek) RM30.0 million Nominal Value Murabahah Commercial Papers Programme (MCP) with immediate effect. The rating withdrawal follows the full redemption of the issuance amounting to RM21.0 million under the rated facility on August 8, 2011 and concurrently the termination of the programme as confirmed by the f...
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MARC has affirmed its rating of MARC-2ID for Prinsiptek Corporation Berhad’s (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million and revised the outlook to stable from negative. The rating action follows MARC’s review of Prinsiptek’s credit profile after the construction group’s announcement of its first half FY2010 profit of RM2.8 million compared...
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MARC has affirmed the rating of MARC-2ID for Prinsiptek Corporation Berhad’s (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million. The negative outlook for the rating is maintained. The affirmed rating reflects recent progress albeit slow, made in collecting its past due receivables, meaningful reduction in its debt burden and an order book position which provi...
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MARC has reaffirmed the rating of MARC-2ID for Prinsiptek Corporation Berhad's (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million. The reaffirmed rating reflects the company’s proven track record in project execution, satisfactory order book position, and moderate margins. The rating also reflects its susceptibility to increases in the cost of construction material...
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MARC has withdrawn its A- ID rating on Prinsiptek Corporation Berhad’s (Prinsiptek) RM50.0 million Murabahah Medium-Term Notes Programme (MMTN) with immediate effect, following written confirmation from OSK Investment Bank Berhad that the facility was terminated on 25 January 2008. There were no previous issuances of notes under this facility.MARC’s present rating obligation with respe...
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MARC has reaffirmed the ratings of MARC-2 ID /A- ID for Prinsiptek Corporation Berhad’s (“Prinsiptek”) Murabahah Commercial Papers (“MCPs”) Programme of up to RM30 million and Murabahah Medium-Term Notes (“MMTNs”) Programme of up to RM50 million. The ratings reflect the company's proven track record in its execution of projects, and reasonably strong order...
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MARC has affirmed the ratings of MARC-2ID/A-ID for Prinsiptek Corporation Berhad’s (“Prinsiptek”) Murabahah Commercial papers (“MCPs”) Programme of up to RM30 million and Murabahah Medium Term Notes (“MMTNs”) Programme of up to RM50 million, with a negative outlook. The rating reflects Prinsiptek’s average business risk profile as a midsize domestic ...
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MARC has assigned ratings of MARC-2ID/ A-ID to Prinsiptek Corporation Berhad’s (“Prinsiptek”) Murabahah Commercial Papers (“MCPs”) Programme and Murabahah Medium-Term Notes (“MMTNs”) Programme. The ratings reflect Prinsiptek’s improved financial and capitalised position; its track record in the construction arena and its foray into property development to diversify its income base....
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