MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...

MARC has placed the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of its RM546.875 million junior notes on a negative outlook pending the resolution of the substantial and long outstanding trade receivables which stood at RM1.14 billion as at December 2003. The maintenance of the pres...

MARC has reaffirmed the rating of Puncak Niaga Holdings Berhad’s (PNHB) Redeemable Unconvertible Junior Notes (RUN) at A, similar to Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). The rating reflects a perfected security interest in the A notes and the escrow account to which matching debt service payments under the A notes will flow. The three-notch differential between the senio...

Further to our meeting with PNSB’s management, the outcome of the privatization of the water distribution in Selangor is expected to be known in the third quarter of year 2003. Latest developments indicate that the resolution of the issue pertaining to the outstanding receivables due from Perbadanan Urus Air Selangor Bhd (PUAS) is one of the integral factors of the exercise.Consequently, MARC ma...

Puncak Niaga Holdings Bhd’s (PNHB) RUN are rated the same as Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). The affirmation reflects a perfected security interest in the A notes and the escrow account to which matching debt service payments under the A notes will flow. The three-notch differential between the senior debt and junior debt ratings currently assigned to PNSB in turn, ...

MARC has assigned a long term rating of A to Puncak Niaga Holding Bhd’s (PNHB) RM546.88 million Redeemable Unconvertible Junior Notes (RUN) with detachable warrants. Proceeds from the new debt offering will be used to fund PNHB’s subscription of subsidiary, Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). PNHB’s RUN are rated the same as PNSB’s A notes. The RUN’s rating r...

On January 8, 2001, Puncak Niaga Holdings Berhad (“Puncak Niaga” or “The Company”) made an announcement that its wholly owned subsidiary, Puncak Niaga (M) Sdn Bhd (PNSB), had on December 29, 2000 issued a letter to terminate the turnkey construction contract for the Sungai Selangor Phase 2 Stage 2 (SSP2 Stage 2) water treatment plant. The contractor, Seni Kembara-Hazama-Central Energy-OTV...