Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM525 million of 1-month and RM330 million of 3-month (discount) Notes issued on 23 May, 2001. The 1-month and 3-month Notes carry an average discount rate of 2.708% and 2.824% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corpo...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM830 million 3-month (discount) Notes issued on 17 May, 2001. The 3-month Notes carry an average discount rate of 2.820% 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 industrial pro...

MARC has assigned a rating of A (Single A) to Commerce Asset-Holding Berhad’s (CAHB) RM500.0 million 5-year and 7-year Redeemable Unsecured Bonds. The rating reflects the strong market positioning of CAHB’s major operating units, the employment of sound risk management practices, solid capital levels and the majority government shareholding. These positives are moderated by the erratic perfo...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic debt rating of A-ID (A minus, Islamic Debt) to Kenanga Wangsa Sdn Bhd’s (Kenanga) RM128 million Al-Bai Bithaman Ajil with Islamic Debt Securities (BaIDS) facility. The rating reflects the strength of the underlying issue structure, in which, secured sales from specific property development projects have been earmarked...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM105 million reopening of the existing 2-year Fixed Rate Bonds, RM150 million reopening of the existing 4-year Fixed Rate Bonds and RM322 million reopening of the existing 5-year Fixed Rate Bonds issued on 11 May 2001. The Bonds carry average yields of 3.293% p.a., 3.700%p.a. and 3.863% p.a. respectively. T...

Malaysian Rating Corporation Berhad (MARC) has affirmed 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 nomi...

Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of AAAID (Triple A, Islamic Debt) to PETRONAS Assets Sdn Bhd’s (PAssets) Bai Al-Dayn Notes Issuance Facility with a nominal value of RM282 million (the NIF). PAssets is a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS) and is in the business of owning and leasing of assets. The Company owns and has g...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the short term rating of MARC-1 (bg) and the long term rating of AA- (bg) in respect of Johor City Development Sdn Bhd’s (JCD) RM235 million nominal amount of Guaranteed Revolving Underwritten Notes Issuance Facility (GRUNIF) and the RM100 million Guaranteed Serial Fixed Rate Bonds respectively. The reaffirmation of the ratings reflect t...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM237 million 2-year Fixed Rate Bonds and RM500 million 3-year Fixed Rate Bonds, issued on 18 April, 2001 and 19 April 2001 respecively. The 2-year Bonds carry a coupon rate of 3.131% p.a whilst the 3-year Bonds carry a coupon rate of 3.268% p.a. The Bonds are issued to fund the purchase of housing loans fro...

Gas District Cooling (KLIA) Sdn Bhd’s (GDC KLIA) ratings are supported by the captive market for its products, namely chilled water and electricity; strong supportive shareholders; efficient operation and strengthened financial profile. The ratings are, however, moderated by the late collection of accounts receivable and high, though declining debt leverage. The ratings outlook is stable, refle...