Malaysian Rating Corporation Berhad (MARC) has affirmed Talam Corporation Berhad’s (Talam) RM150 million secured bonds rating at A (single A flat). The affirmation of the rating reflects the strength of the issue structure that is secured by a property development project, the Saujana Puchong Project, which forms the primary source of repayment of the bonds issue. In addition, the favourable p...

The affirmation of WCT Engineering Bhd’s (WCT) corporate debt rating of A– (s) reflects the group’s competitive position in the civil engineering and building segment of the construction industry; good track record; improving financial profile; conservative financial management and an experienced management team. The bonds issue is supported by an irrevocable banking facility of RM15 milli...

MARC has assigned a rating of A- (Single A minus) to MAA Holdings Berhad’s (MAAH) RM120.0 million nominal amount six-year structured serial bonds. The rating assigned to MAAH’s bond issue is drawn from the insurer strength ratings of the general and life insurance funds of its main subsidiary Malaysian Assurance Alliance Berhad (MAA) and the support provided by a Revolving Credit Facility to ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-3ID to Pembangunan Brisdale Sdn Bhd’s (PBSB) RM55 million Murabahah Underwritten Notes Issuance Facility (MUNIF). The rating reflects the strength of the issue structure under which secured sales from the West Port Tech Zone housing project have been earmarked for the redemption of the MUNIF. Positive features ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM395 million of 3-month (discount) Notes issued on 23 August, 2001. The 3-month Notes carry an average discount rate of 2.788% 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 industr...

Malaysian Rating Corporation Berhad (MARC) has affirmed Melombong dan Perumahan Sdn Bhd’s (MDP) RM60 million Murabahah Underwritten Notes Issuance Facility (MUNIF) rating at MARC-2ID. The rating affirmation reflects the strength of the issue structure which captures the sales proceeds of the Ultima I and II condominiums and low cost apartments to form the primary source of repayment of the debt...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM275 million of 1-month (discount) Notes and RM660 million of 3-month (discount) Notes issued on 17 August, 2001. The 1-month and 3-month Notes carry an average discount rate of 2.766% p.a. and 2.792% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from fina...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic debt rating of AID (A, Islamic Debt Security) to Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.01billion Al-Bai’ Bithaman Ajil Islamic Debt Securities Issuance Facility.The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffi...

Corporate Debt Ratings:(i) Proposed Issue of Up to RM150 Million Nominal Value of Redeemable Secured Bonds With up to 142.1 Million Warrants (2001/2008) – Tranche 1 A-(ii) Proposed Issue of Up to RM150 Million Nominal Value of Redeemable Secured Bonds With up to 142.1 Million Warrants (2001/2008) – Tranche 2 A-Malaysian Rating Corporation Berhad (MARC) has assigned long-term ratings of A-...

The affirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) Islamic debt ratings reflect the assignment of specific contract proceeds for the purpose of the redemption of the ABBA and MUNIF facilities; manageable risks associated with its various projects; and the company’s improving financial position. These factors are, however, tempered by the slow-down in the general economy; continued excess...