Not sure if anyone read it, but in the Interim Report dated 24 May 2011 on FSM, RHB Islamic Bond had 7.5mil and 4.6mil in B+ and BB & below grade investments.

Out of that, the 4.6mil is solely related to Tracoma Holdings Bhd, rated D (along with accompanying notes). That by itself should be a flag already.

This post has been edited by Dias: Nov 7 2011, 10:49 AM

You should be asking why Ample Zone Bhd is rated B+ (non-investment grade). 7.5 mil is not a small amount to be sneezed at, considering the impact of the 4.6 mil Tracoma investment on the fund's NAV. The picture ain't pretty based on MARC's Oct'11 report.

http://www.marc.com.my/ratbase/pub.report....oid%3DAMPLEZONE

http://www.marc.com.my/home/userfiles/file...Definitions.pdf