MARC has assigned long and short-term ratings of A+ID and MARC-1ID/A+ID to WCT Engineering Berhad’s (“WCT”) proposed Islamic Fixed Rate Serial Bonds of RM100 million and 7-year Islamic Commercial Papers/Medium Term Notes Programme of up to RM100 million (“Islamic CP/MTN”) (collectively known as Islamic Securities or IS). Concurrently, we have also reaffirmed WCT&rsq...

MARC has assigned a rating of AAAIS to Assar Chemicals Sdn Bhd’s (“ACSB”) proposed issuance of RM150 million Serial Sukuk Musyarakah (“Facility”). Proceeds from the Facility will be applied towards repayment of the outstanding amount under the RM100.0 million bridging loan granted by RHB Sakura Merchant Bankers Berhad to ACSB pending issuance of the Facility and par...

MARC has assigned the ratings of AAAIS and AA+IS to IJN Capital Sdn Bhd’s (IJNC) RM100 million Sukuk Musyarakah with maturities of seven (7) years or less from the date of first issue and RM109 million with maturities of more than seven (7) years from the date of first issue, respectively. The ratings stem from IJN’s position as one of the leading cardiac centres in Malaysia, Asean ...

The affirmed rating of AA-ID (double A minus, Islamic Debt) assigned to Guthrie Property Development Holding Berhad’s (GPDH) RM750 million Islamic Medium Term Notes (MTN) programme reflects GPDH’s reputable position as a leading property developer in the country and its sound financial profile. In addition, other positive factors are GPDH’s vast land holding and its commendabl...

The ratings of MARC-1ID/A+ID for up to RM250 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) are predicated upon Nam Fatt Corporation Berhad’s (Nam Fatt) competitive position in the construction and engineering business with a sizeable outstanding order book; good operating track record; improving financial profile and a tight issue structure with pre-determined crite...

MARC has assigned a rating of AID on Englotechs Holding Bhd’s (Englotechs) Murabahah Medium Term Notes Programme of up to RM50.0 million. The rating assignment is a reflection of Englotechs’s position as a leading manufacturer and exporter of industrial cotton work gloves in Malaysia; the stable and foreseeable increase in demand for its products; stable operating margins over the la...

MARC has reaffirmed the long-term and short-term issuer ratings of Cagamas Bhd (Cagamas) at AAA and MARC-1 respectively. The reaffirmation reflects the strong ability and flexibility of the Company to meet its financial commitments, supported by a favourable portfolio of loans and debts with full recourse to the selling institutions, its strong capitalization and a proactive and innovative manag...

MARC has reaffirmed the ratings of Atlan Holdings Berhad’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities at MARC-2ID and AID (A flat, Islamic debt). The ratings affirmation reflects Atlan’s diversified business and good competitive pos...

The MARC-1ID/AA-ID corporate debt rating assigned to Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS), reflects its dominant position as the sole distributor of treated water for the states of Selangor, Wilayah Persekutuan Kuala Lumpur and Putrajaya; the Government’s support for the water privatization programme; the low risk nature of the business given the importance of treated water for d...

PECD Berhad’s (“PECD or the Group”) proposed Serial Fixed Rate Bonds Programme (“Serial Fixed Rate Bonds”) of RM200 million have been assigned a long-term rating of A. Proceeds from the issuance of the Serial Fixed Rate Bonds will be utilised towards the refinancing of the Group’s subsidiaries bank borrowings and for general working capital and investment requ...