MARC has affirmed its AAID ratings on Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) Programme with a stable outlook.Instacom SPV Sdn Bhd was established to facilitate the issuance of notes under the MMTN Programme on behalf of Instacom Engineering Sdn Bhd (IESB), a telecommunication tower (telco tower) contractor. Proceeds from the issuance of notes are used ...

MARC has affirmed WCT Berhad’s (WCT) issue ratings as follows:RM300 million Redeemable Sukuk with Warrants at AA-IS;RM300 million Islamic Commercial Papers/Medium Term Notes (CP/MTN) at MARC-1ID/AA-ID;RM100 million Islamic Fixed Rate Serial Bonds at AA-ID;RM100 million Islamic CP/MTN at MARC-1ID/AA-ID.The rating outlook is revised to stable from developing. The rating actions are premised on...

MARC has affirmed its rating of MARC-2ID for Prinsiptek Corporation Berhad’s (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million and revised the outlook to stable from negative. The rating action follows MARC’s review of Prinsiptek’s credit profile after the construction group’s announcement of its first half FY2010 profit of RM2.8 million compared...

MARC has downgraded its rating on Matang Highway Sdn Bhd’s (Matang) RM70.0 million Sukuk Musharakah issuance to AIS from AA-IS and concurrently removed the rating from MARCWatch Negative where it was first placed on August 6, 2009. The rating outlook is negative. The rating actions reflect the tight liquidity of Matang as a result of the knock-on consequences of construction delay in Matang&...

MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:Special Port Vehicle Berhad’s (SPVB) RM1,310 million Asset-Backed Serial Bonds at AAA; Transshipment Megahub Berhad’s ...

MARC has affirmed Makro Utama Sdn Bhd’s (Makro) RM100.0 million Al-Istisna’ Bonds (the Bonds) rating of A+ID. The outlook of the rating is stable. The affirmed rating reflects the strong credit quality of the sole obligor, the Department of Irrigation and Drainage Malaysia, and the moderately low execution risk entailed in the RM402.9 million Sungai Muda Package 2 Flood Mitigation Proj...

MARC has downgraded its ratings on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN) to  MARC-3ID /BBB+ID from MARC-1ID/A+ID and concurrently placed the ratings on MARCWatch Negative. The downgrade reflects significant and severe deterioration in the credit profile of Nam Fatt due to material delays in the prog...

MARC has affirmed WCT Berhad’s (WCT) issue ratings as follows:• RM300 million Redeemable Sukuk with Warrants at AA-IS• RM300 million Islamic Commercial Papers/Medium Term Notes (CP/MTN) at MARC-1ID/AA-ID• RM100 million Islamic Fixed Rate Serial Bonds at AA-ID• RM100 million Islamic CP/MTN at MARC-1ID/AA-IDThe outlook on the ratings is revised to develo...

MARC has affirmed the rating of Gerbang Perdana CIQ Sdn Bhd’s (GPCIQ) RM1.7 billion 7-year Medium Term Notes (MTN) Programme at AAA. The notes are fully collateralised by post-construction receivables of the Government of Malaysia (GOM) related to the construction of the integrated Customs, Immigration and Quarantine (CIQ) Complex project in Johor Bahru (JB). Accordingly, the affirmed rating...

MARC has affirmed the ratings of MARC-1(bg) / AAA(bg) on Tranche A and MARC-1(bg) / AA+(bg) on Tranche B of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper/ Medium Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN Programme respectively. The ratings on Tranche A reflect MARC’s AAA/MARC-1 public information financial institution ratings on Malayan Banking Ber...