MARC has received confirmation from MIDF Amanah Investment Bank Berhad ("MIDF Investment"), the facility agent for Kuala Lumpur Sentral Sdn Bhd’s RM720.0 million Al-Bai Bithaman Ajil Debt Islamic Debt Securities (BaIDS), that the facility has been fully redeemed and cancelled effective 6 April 2007. As such, MARC no longer has any rating obligation on the facility, and has accordin...

The rating of Kuala Lumpur Sentral Sdn Bhd’s (KLSSB) RM720.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) comprising Tranches 2B, 3, 4A & 4B has been upgraded to A+ID(s)  with a stable outlook reflecting the support provided by Bank Pembangunan Malaysia Berhad (BPMB) (formerly known as Bank Pembangunan dan Infrastruktur Malaysia Berhad or “BPIMB”) by way ...

MARC has reaffirmed the rating of KLSSB’s tranches 2A, 2B, 3, 4A & 4B BaIDS totaling RM800 million at AID(s), reflecting the support provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) by way of a standby revolving credit facility. As at May 2005, the aggregate confirmed sales stood at RM854.5 million, of which RM91.9 million remained uncollected. For the first five month period...

MARC has reaffirmed the rating of KLSSB’s tranches 2A, 2B, 3, 4A & 4B BaIDS totaling RM800 million at AID(s), reflecting the support provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) by way of a standby revolving credit facility. The Tranche 1 BaIDS was fully settled in April 2004.Kuala Lumpur Sentral’s commercial development is divided into four phases. As at October 2004, ...

MARC has received confirmation from the Facility Agent that KLSSB’s Tranche 1 BaIDS of RM91 million has been fully redeemed. As such, the A-ID rating is hereby withdrawn. In the meantime, the ratings for Tranches 2A, 2B, 3, 4A & 4B BaIDS totalling RM800 million remain unchanged at AID(s), reflecting the support provided by Bank Pembangunan & Infrastruktur Malaysia Berhad by way of a standby rev...

In February 2004, MARC had placed the rating of KLSSB’s Tranche 1 BaIDS of RM91 million (original limit: RM120 million) of A-ID on MARCWatch with developing implications, reflecting MARC’s concerns over KLSSB’s ability to collect the remaining billings of RM125 million from Promising Quality Sdn Bhd (PQSB) for Lot G at KL Sentral, which would be the main source of repayment for the Tranche 1...

MARC has placed the rating of KLSSB’s Tranche 1 BaIDS of RM91 million (original limit: RM120 million) of A-ID on MARCWarch with developing implications, reflecting MARC’s concerns over KLSSB’s ability to collect the remaining billings of RM125 million from Promising Quality Sdn Bhd (PQSB) for Lot G at KL Sentral, which would be crucial for the repayment of the Tranche 1 BaIDS. On 21 October ...

MARC has received confirmation from the Trustee that the BaIDSholders for KLSSB’s Tranche 1 BaIDS of RM120 million has in an Extraordinary BaIDSholders Meeting (EBM) held on 3 April 2003, approved KLSSB’s proposal to defer the repayment of RM91 million of the face value of the said tranche, which is due on 4 April 2003 to a date falling six months thereafter with an option given to KLSSB to fu...

MARC has reaffirmed the rating of KLSSB’s Tranche 1 BaIDS of RM120 million at A-ID (Single A minus Islamic Debt). The rating is, however, placed on MARCWatch with negative implications, reflecting MARC’s heightened concerns of KLSSB’s ability to collect the remaining billings from Promising Quality Sdn Bhd (PQSB) prior to the maturity of Tranche 1 BaIDS in April 2003. KLSSB is taking steps...

Malaysian Rating Corporation Berhad (MARC) has affirmed long-term ratings of A-ID (A minus, Islamic debt) to tranche 1 of Kuala Lumpur Sentral Sdn Bhd’s (KLSSB) Al-Bai Bithaman Ajil Islamic debt securities (BaIDS) facility of RM120 million, and AID(s) (A, Islamic debt with liquidity support) to tranches 2A, 2B, 3, 4A and 4B of its BaIDS facility totalling RM800 million. The rating affirma...