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MARC has withdrawn the AID rating assigned to Merbok Hilir Berhad (Merbok)’s RM150 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). Merbok has confirmed that it has purchased and cancelled the BaIDS, and there is no amount outstanding against the rating. At the time of withdrawal, the rating was on Negative MARCWATCH....
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Merbok Hilir Berhad (“Merbok”) RM150 million BaIDS was placed on MARCWatch with a negative outlook on 30 August 2006 arising from Merbok’s failure to deposit the monthly built up for the upcoming scheduled principal payment in January 2007. However, the BaIDS holders have agreed with a restructuring scheme proposed by Merbok on 11 October 2006 which basically entails a deferment ...
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MARC, with immediate effect, is placing Merbok Hilir Berhad (“Merbok”) RM150 million Bai’ Bithaman Ajil Islamic Debt Securities (“BaIDS”) on MARCWatch with a Negative Outlook. This is premised on Merbok’s failure (in accordance with the Terms and Conditions of the BaIDS) to deposit the monthly built up for the upcoming principal payment due in January 2007. Merb...
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The rating reaffirmation of Merbok Hilir Berhad’s (Merbok) RM150.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BBA Bonds) at AID is reflective of Merbok Group’s proven track record in the MDF industry and its fairly robust financial position. Moderating factors, however, include the inherent risks of such commodity-based industry, high capital requirements driven by rapidly evolving technolo...
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The affirmation of the AID rating assigned to Merbok Hilir Berhad’s (Merbok) RM150.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BBA Bonds) is premised on the Group’s proven track record in the highly competitive MDF industry; the favourable outlook of the international Medium Density Board (MDF) industry, as well as its well-capitalised balance-sheet. However, the balancing factors taken i...
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MARC has assigned a long-term rating of A ID (Single A Flat Islamic Debt) on Merbok Hilir Berhad’s (Merbok) proposed RM150 million Al-Bai’ Bithaman Ajil Serial Bonds (BBA Bonds). Factors underpinning the rating include Merbok Group’s proven track record in the highly competitive MDF industry, the favourable outlook of the international Medium Density Board (MDF) industry, as well as its wel...
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