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The rating of Leader Universal Holdings Berhad’s (Leader) RM150.0 Million Murabahah Medium-Term Notes Issuance Programme has been reaffirmed at AID. The rating outlook has been revised to developing from stable. The affirmed rating reflects the Group’s moderate and steadily improving operating margins in the cable and wire industry which is presently challenged by rising raw material p...
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MARC has affirmed its MARC-2ID/AID ratings of EP Manufacturing Berhad’s (“EPMB” or “the Group”) Murabahah Notes Issuance Facility/ Islamic Medium-Term Notes Facility of up to RM150 million and up to RM120 million. The ratings outlook is developing. The affirmed ratings reflects EPMB’s recent positive earnings trends and increased likelihood that it will be able ...
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Ingress Sukuk Berhad’s (Ingress) A+IS rating on its RM160.0 million Sukuk Al Ijara Issuance Programme remains on MARCWatch Developing pending the completion of MARC’s annual rating review. The rating has been placed on MARCWatch Developing since July 30, 2007 as a result of a breach in the Debt to Equity Ratio according to the Ijarah Agreement dated 1 July 2004. MARC expects to complet...
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MARC has removed EP Manufacturing Bhd’s (EPMB) ratings of MARC-2ID /AID in respect of its RM150 million Murabahah Notes Issuance Facility (MUNIF)/Islamic Medium Term Notes (IMTN) and RM120 million MUNIF/IMTN from MARCWatch Negative, where they had been placed since July 19, 2007. EPMB manufactures and supplies automotive products to both the original and replacement markets. It is a tier-one...
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Evermaster Group Berhad’s A-ID and MARC-2ID/ A- ID ratings on its RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (MONIF) remain on MARCWatch Negative pending the completion of MARC’s annual rating review. The ratings have been placed on MARCWatch Negative since July 13, 2007 as a result of weakened f...
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MARC has placed the MARC-2/A ratings of Axis Incorporation Berhad’s (Axis) RM100.0 million Commercial Papers / Medium Term Notes Programme (CP/MTN) on MARCWatch Negative. The MARCWatch placement reflects a breach of the gearing covenant on the part of Axis as at end-March 2007 which remains unresolved.Axis is involved in the garment and textile industry, with businesses in knitting and dyein...
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MARC has affirmed the ratings of Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium-Term Notes Issuance Facility (MUNIF/IMTN) at AID / MARC-2ID. The outlook is Stable. The ratings reflect a turnaround in the geosynthetic industry after weaker than expected operating performance in 2006. Additionally, the Group&rsquo...
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MARC has withdrawn the AAAID(s) rating assigned to Petronas Fertilizer (Kedah) Sdn Bhd’s (PFK) RM750 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) with immediate effect, following the full repayment of all outstanding notes....
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Following verbal confirmation from note holders that Stenta Films (Malaysia) Sdn Bhd (Stenta) has failed to redeem and cancel RM7.0 million of MUNIF notes due on September 19, 2007, MARC has lowered the rating on Stenta’s RM90.0 million Murabahah Notes Issuance Facility (MUNIF) from ‘MARC-4ID’ to ‘DID’ . MARC has had to rely on verbal confirmation, as the trustee for ...
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MARC has removed Englotechs’ rating on its RM50.0 million Murabahah Medium Term Notes (MMTN) Programme from MARCWatch Negative and downgraded its rating from AID to BBB+ID. The rating carries a negative outlook. The downgrade reflects further deterioration in the company’s financial profile caused by rising trade receivables, which has resulted in higher working capital requirements an...
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