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MARC has withdrawn the BBB+ID(s) rating assigned to Malaysian Newsprints Sdn Bhd (MNI) RM923 Million Bai’ Bi Al-Taqsit (BBAT) Nominal Value Fixed Rate Serial Bonds with immediate effect, following confirmation by the trustee that the bonds have been fully redeemed....
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MARC has reaffirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (BBAT) at BBB+ID(s) with stable outlook, reflecting the company’s dominant position as the sole newsprint producer in Malaysia; improvement in its financial performance during the fiscal year under review; the protection ...
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MARC has affirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (BBAT) at BBB+ID(s). The affirmation reflects the company’s dominant position as the sole newsprint producer in Malaysia; improvement in newsprint price since mid-2003; and the protection derived from the anti-dumping duties imposed by...
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The rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bond programme (BBAT) has been reaffirmed at BBBID +(s) reflecting the company’s dominant position as the sole newsprint producer in the country; coupled with anti-dumping duties imposed by the government on imported newsprint which directly limit overseas competition;...
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MARC has lifted the MARC Watch (with a negative outlook) placed on MNI’s RM923 million Bai’ Bi Al-Taqsit Nominal Value Fixed Rate Serial Bonds Programme (Islamic Bonds) following the successful completion of MNI’s Bond Restructuring Exercise on 11 June 2004 and compliance on reinstatement of the Standby Credit facility as at 30 June 2004. The approved restructuring entails a 3-year repayment...
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MARC has placed MNI’s RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (Islamic Bonds) rated at BBB+ID(s) on MARC Watch with a Negative Outlook; reflecting the company’s weak financials stemming from depressed newsprint prices. MNI will be seeking bondholders’ approval for its proposed restructuring of the debt, which includes a 3-year repayment moratorium fr...
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Malaysian Rating Corporation Berhad (MARC) has affirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit Fixed Rate Serial Bonds at BBB+(s)ID. The affirmation of the rating reflects MNI’s continued competitive strength as the sole newsprint producer in Malaysia; secured offtake commitments through newsprint offtake agreements; its low operational ...
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MARC has lowered its rating on Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit Fixed Rate Serial Bonds Programme from A-(s)ID to BBB+(s)ID. The rating action reflects the impact of the decline in newsprint prices on the company’s financials. Global newsprint prices have fallen to a new historical low due to the economic slowdown and oversupply problem in North ...
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Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of A-ID(S) (A minus, Islamic Debt Security) to Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme. The rating reflects Malaysian Newsprint Industries Sdn Bhd’s (MNI) strong competitive position in the local newsprint industry, offtake ag...
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