MARC has withdrawn its rating of AAIS on Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes Programme. The rating withdrawal follows the early redemption and subsequent cancellation of the Sukuk Musyarakah Programme on July 18, 2014 as confirmed by the facility agent. Upon the withdrawal of the rating, MARC will no longer be providing analytical coverage on th...

MARC has affirmed the rating of Alloy Properties Sdn Bhd’s (APSB) outstanding RM216 million Sukuk Musyarakah Medium Term Notes Programme at AAIS. The rating outlook is stable. The outstanding notes are serviced by APSB’s rental income from its two office buildings and assigned cash flows from sister companies Alloy Toll Management Sdn Bhd (ATM) and Alloy Maintenance Engineering Sdn Bhd...

MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes Programme rating at AAIS. The rating outlook is stable. The affirmed rating reflects the adequacy of cash flows from the three identified payment sources for the sukuk: APSB’s rental income from its two office buildings and assigned cash flows from sister companies, Alloy Toll Managemen...

MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes (IMTN) Programme rating at AAIS. Concurrently, MARC has removed APSB’s rating from MARCWatch Negative where it had been placed on August 22, 2011. The rating outlook is stable. The rating action concludes MARC’s review of the issue rating initiated in August 2011 following the ear...

MARC has placed its rating of AAIS on Alloy Properties Sdn Bhd’s (formerly known as Haluan Gigih Sdn Bhd) (APSB) Sukuk Musyarakah Medium Term Note (IMTN) Programme of up to RM240.0 million on MARCWatch Negative. The rating action reflects MARC’s concerns over the announced freeze on toll rate increases for toll road concessions of related entities and the early termination of the East ...