The reaffirmation of Talam Corporation Berhad’s (Talam) rating at A reflects the strong underlying issue structure, in which assignment of sale proceeds from the Saujana Puchong development project forms the source of repayment of the bond issue; the group’s strengthened capital structure; the improving financial profile of the group and its competitive position as one of the larges...

MARC has affirmed the rating of MARC-3ID assigned to Perspektif Perkasa Sdn Bhd’s (PPSB) RM188 million nominal value Murabahah Underwritten Notes Issuance Facility (MUNIF). The rating is reflective of the positioning of Bandar Pinggiran Cyber as an affordable integrated township driven by the competitive pricing of its residential development vis-à-vis other property developments w...

The rating of TH Group Berhad (THG) is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction division. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domestic construction s...

The reaffirmation of Utusan Melayu (Malaysia) Berhad’s (Utusan/the group) rating of MARC-3 on the extended Revolving Underwritten Facility (RUF) reflects Utusan’s leading position in the Malay language newspaper and magazine segments coupled with improving financials following higher circulation figures and increasing advertising revenue. The rating is, however, moderated by Utusan&...

The rating reflects IJM Plantations Berhad’s (IJMP) business focus in palm oil plantation and milling and its strong plantation performance. The rating is, however, moderated by the Group’s vulnerability to cyclical developments in the palm oil industry.IJMP’s palm oil cultivation is undertaken in the Sandakan and Labuk-Sugut districts of Sabah. Out of a total land bank of 29,...

DeGem Berhad’s (DeGem) short/long-term ratings of MARC-2ID/A+ID on its proposed RM50.0 million MUNIF/IMTN programme reflect the Group’s proven track record as one the leading jewellers in Malaysia. The ratings also took into consideration DeGem’s better than average financial profile characterised by its low gearing and favourable liquidity profile. Moderating factors include ...

MARC has assigned ratings of AAA, AA and BB to Kerisma Bhd’s (Kerisma) RM870.0 million senior secured fixed-rate, RM30.0 million mezzanine 5-year secured fixed-rate and RM100.0 million subordinated secured variable-rate asset-backed bonds. The ratings are based on the total credit enhancement of 16.4% and 12.6% for the senior and mezzanine bonds respectively, the A- weighted average ratin...

The upgrade of Sunrise Berhad’s (Sunrise) long term rating of AID to A+ID reflects the company’s established position as a renowned and successful condominium developer, evident from its signature development in Mont’Kiara (MK); strong financial position coupled with promising cash flow generation capacity, going forward. The short term rating has been maintained at MARC-2ID. ...

The upgrade on Kelang Multi Terminal Sdn Bhd’s (KMT) rating reflects the company’s strong business fundamentals driven by the steady growth in the container volume, solid financial profile and business growth opportunities from the Government’s full support in developing Port Klang into a Transshipment Megahub/Free Trade Zone. Moderating the strengths are the high, but managea...

The affirmation of ABI Malaysia Sdn Bhd’s (ABI) rating reflects its leading position in the manufacture of automotive batteries in Malaysia; existing and new manufacturing contracts which ensure sustainable demand for its batteries; and the company’s improving financial profile. The rating, however, is moderated by the company’s tight cash flow position. ABI is involved in the...