Malaysian Rating Corporation Berhad (MARC) has reaffirmed Setia Putrajaya Sdn Bhd’s (Setia Putrajaya) rating of MARC-2ID for its RM170 million Murabahah Notes Issuance Facility.The rating reaffirmation reflects Setia Putrajaya Sdn Bhd’s (Setia Putrajaya) manageable construction risk given its ability to complete its construction works in a timely manner; the en-bloc sale of the bulk of residen...

Malaysian Rating Corporation Berhad (MARC) today announced that it has posted a 51% increase in pre-tax profit to RM3,047,140 for the financial year ended 31 December 2001, on the back of a 31% increase in turnover to RM6,815,425. The Chairman, Encik Mohammad Abdullah attributed the strong performance to increased activity in the bond market, which in turn was driven by improving economic fundame...

MARC has reaffirmed the insurance financial strength rating of Lonpac Insurance Berhad (Lonpac) at AA- (double A minus) based on the insurer’s well spread book, its strategic links with the Public Bank group, a conservative investment portfolio, strong liquidity and sound capitalization. These strengths are moderated by the unfavourable motor loss ratios in the past two years.Lonpac is a medium...

The short and long term Islamic debt rating of A+ID and MARC-2ID assigned to TSH Resources Bhd’s Murabahah Commercial Paper/Medium-Term Notes Issuance respectively reflect the business diversity of the TSH group namely oil palm plantation, palm oil milling, engineered hardwood floor manufacturing and bio-mass energy production; the limited competition within the palm oil milling industry; sustai...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM500 million 5-year Sanadat Mudharabah Cagamas (SMC), issued on 23 April 2002. The 5-year SMC carry an average yield of 4.280% p.a.. The SMC are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industrial property loans a...

Road Asset Vehicle Sdn Bhd’s (RAV) rating of MARC-2 reflects the bankruptcy remote status of this special purpose vehicle (SPV); credit support in the form of the assignment of a corporate guarantee issued by Kumpulan Guthrie Bhd in respect of the amount payable by Guthrie Corridor Expressway Sdn Bhd (GCE) under the progress certificates including interest and financing costs; liquidity support ...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed PETRONAS Gas Berhad’s (PGB) RM900.0 million Al-Murabahah Commercial Paper/Medium Term Notes Programme (1999/2004) ratings at MARC-1ID / AAAID and the RM500.0 million Al-Bai Bithaman Ajil Bonds Issuance Facility (1999/2004) at AAAID. PGB’s Issuer Ratings have also been reaffirmed at AAA / MARC-1. The reaffirmed ratings are supported by t...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM1,670 million 3-month (discount) Notes issued on 18 April, 2002. The 3-month Notes carry an average discount rate of 2.747% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industria...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the ratings of Midciti Resources Sdn Bhd’s (“Midciti Resources”) 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million at MARC-1ID /AAAID, 8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million at AAAID and the 13-year Bonds with a no...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM520 million 2-year Fixed Rate Bonds, RM615 million 3-year Fixed Rate Bonds and RM700 million 4-year Fixed Rate Bonds, issued on 12 April 2002. The 2-year, 3-year and 4-year Fixed Rate Bonds carry an average yield of 3.232% p.a., 3.513% p.a. and 3.862% p.a. respectively. The Bonds are issued to fund the pur...