MARC downgrades Serba Dinamik

PETALING JAYA: Engineering companies firm Serba Dinamik Holdings Bhd has been downgraded by Malaysian Ranking Corp Bhd (MARC) after failing to fulfill a coupon fee once more.

Serba Dinamik’s Islamic medium-term notes and Islamic Industrial Papers downgraded to a default score of DIS from CIS and MARC-4IS respectively.

“The scores had been lowered to CIS and MARC-4IS on Dec 10, 2021 when it failed to fulfill a coupon fee on an excellent US greenback sukuk issued by its wholly-owned subsidiary,” it mentioned in a press release. The excellent below the ICP program of RM100mil is due in Could.


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