MARC has lowered the short- and long-term ratings on Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF) to DID from MARC-4ID and BB-ID respectively. The downgrades are based on EGB’s failure to meet the scheduled BaIDS redemption of RM15 million on December 30, 2008, a...

MARC has downgraded the long and short-term ratings of wood-based product manufacturer Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF) to BB-ID and MARC-4ID from BBB-ID and MARC-3ID respectively. At the same time, EGB’s ratings were removed from MARCWatch Negative w...

MARC has received confirmation from Prokhas Sdn Bhd, the sole holder of Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS), of EGB’s proposed rescheduling of the BaIDS. The BaIDS and the RM40 million Murabahah Multi-Option Notes Issuance Facility’s (MONIF) long- and short-term ratings of BBB-ID and MARC-3ID remain on MARCWatch Negati...

MARC has downgraded its long-term rating on Evermaster Group Berhad’s (“EGB” or “the Group”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) to BBB-ID from BBB+ID. The lowered long-term rating and EGB’s MARC-3ID short-term rating remain on MA...

MARC has placed the BBB+ID/MARC-3ID ratings of Evermaster Group Berhad’s (“EGB” or “the Group”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) on MARCWatch Negative following the Group’s failure to meet the RM7.5 million sinking fund payment...

MARC has removed its MARCWatch Negative ratings on Evermaster Group Berhad’s (“EGB”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) where they had been placed on July 13, 2007 and downgraded its long-term and short-term ratings on the BaIDS and MONIF from A-I...

Evermaster Group Berhad’s (“EGB” or “Group”) 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 where they had been placed since July 13, 2007. The MARCWatch Negative reflects the Group’s working capital ...

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...

MARC has revised Evermaster Group Berhad’s (“EGB”) MARCWatch status on its MARC-2 ID rating in respect of its RM40 Million Murabahah Multi-Option Notes Issuance Facility (MONIF) to Negative from Developing. Concurrently, MARC has also placed the Group’s long-term rating of A- ID on MARCWatch Negative in respect of its RM50 Million Al-Bai Bithaman Ajil Islamic Debt Securitie...

In respect of Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance Facilities (MONIF), MARC has downgraded EGB’s long-term rating to A-ID whilst reaffirming the short term rating at MARC-2ID. The rating actions reflect on the Group’s continued deteriorating profitability over the last two fina...