On January 8, 2001, Puncak Niaga Holdings Berhad (“Puncak Niaga” or “The Company”) made an announcement that its wholly owned subsidiary, Puncak Niaga (M) Sdn Bhd (PNSB), had on December 29, 2000 issued a letter to terminate the turnkey construction contract for the Sungai Selangor Phase 2 Stage 2 (SSP2 Stage 2) water treatment plant. The contractor, Seni Kembara-Hazama-Central Energy-OTV...

MARC has assigned a rating of AA+ID (Double A plus, Islamic Debt) to Anjung Bahasa Sdn Bhd’s (ABSB) RM110.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities Issuance Facility. ABSB, a single purpose company, was granted the concession to design, construct and complete a new office complex for Dewan Bahasa dan Pustaka (DBP) on a deferred payment basis, and to undertake the maintenance and ...

The rating of MARC-1 has been affirmed, reflecting the better-than-projected financial position, stable and predictable cash flows generated by take-or-pay contracts for terminal usage, the facility’s advanced construction status, financially strong and experienced project sponsors and the highly qualified senior management team.Kertih Terminals Sdn Bhd (KTSB) was incorporated to undertake the c...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM435 million 3-month (discount) Notes. The Notes carry an average discount rate of 2.988% p.a. issued on 15 December 2000. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industrial prope...

Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of A-ID(S) (A minus, Islamic Debt Security) to Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme. The rating reflects Malaysian Newsprint Industries Sdn Bhd’s (MNI) strong competitive position in the local newsprint industry, offtake ag...

MARC announced today that it has withdrawn the rating on Puncak Niaga (M) Sdn Bhd’s RM800 million Revolving Underwritten Facility following the full redemption of all notes outstanding under the Facility on 27 November 2000.Puncak Niaga’s remaining private debt security facilities which are presently outstanding, namely its RM1.02 billion Al-Bai Bithaman Aijil (ABBA) serial bonds and its RM350...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM500 million of 3-month (discount) Notes issued on 24 November, 2000. The 3-month Notes carry an average discount rate of 2.943% 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 indus...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to the RM750 million of 3-month Cagamas (discount) Notes and a long-term rating of AAA to the RM144 million 4-year Sanadat Mudharabah Cagamas (SMC) and RM187 million reopening of the existing 4-year Fixed Rate Bonds issued on 9 and 10 November, 2000. (An earlier tranche of 4-year Bonds was issued on 3 August, 200...

MARC has assigned a rating of AAID to Puncak Niaga (M) Sdn Bhd’s (PNSB) ABBA serial bonds and MARC-1/AAID to its MuCP/MTN programme. Proceeds from the new debt offering will be substantially utilized to refinance PNSB’s existing debts including the RM800 million revolving underwritten facility (RUF) due in 2002. MARC had re-affirmed the RUF rating of MARC-2 in March 2000. Upon redemption of...

The Ringgit-denominated Infrastructure Notes issues by Bank Pembangunan dan Infrastruktur Malaysia Berhad (BPIMB) which are guaranteed by the Government of Malaysia are not rated by MARC. The Government enjoys the very highest credit standing with respect to local currency obligations due to its unique access to a wide range of resources. To service local currency-denominated debt, governments h...