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MARC has withdrawn its AA- rating on Tirai Impresif Sdn Bhd’s RM100 Million Medium-Term Notes Programme with immediate effect, following the cancellation of the facility, as confirmed by its facility agent, OSK Investment Bank Berhad. Contacts: Jason Kok, 03-2090 2258/ jason@marc.com.my; Francis Xaviour Joe, 03-2090 2279/ fxjoe@marc.com.my...
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MARC is issuing an update on Tirai Impresif Sdn Bhd’s (TISB) AA- rating on RM100 million Medium Term Notes (MTN) programme in connection with a legal action filed by TISB’s ultimate holding company, VTI Vintage Bhd (VTI) against former Managing Director Ken Ong Thuan Ming. Bursa Malaysia listed VTI is mainly involved in manufacturing and trading of roof trusses and tiles.MARC is of the...
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MARC has affirmed the AA- long-term rating of Tirai Impresif Sdn Bhd’s (Tirai) RM100.0 million Medium-Term Notes (MTN) Programme with a stable outlook. The affirmation is primarily based on the credit quality and performance of existing Government contract receivables assigned to the issue in respect of identified Government sponsored affordable housing schemes and the issue’s tight st...
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The proposed 10-year Medium-Term Notes (“MTN”) programme represents a structured transaction involving the assignment of contract proceeds due from Syarikat Perumahan Negara Berhad (“SPNB”), wholly owned by the Ministry of Finance Incorporated, to the Issuer, Tirai Impresif Sdn Bhd (“Tirai”); in respect of two contracts to supply and install roof tiles and galva...
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