MARC has re-affirmed its financial institution rating of AA- and short-term rating of MARC-1 for Public Finance Berhad with a positive outlook. The ratings reflect the finance company’s defensible business franchise, healthy capital base, good asset quality, capable management, strong earnings, ample liquidity and its 56.76% ownership by Public Bank Berhad. Public Finance is a well established ...

Malaysian Rating Corporation Berhad (MARC) has assigned long-term ratings of AAAID to Putrajaya Holdings Sdn Bhd’s (PJH) RM861.14 million Al-Bai Bithaman Ajil (ABBA) Bonds (Parcel C) and RM1,288.88 million Al-Bai Bithaman Ajil (ABBA) Bonds (Parcel D) issuance facilities. The ratings reflect the superior credit quality which essentially is that of the Government who will be responsible for the s...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term debt rating of MARC-2 to DRB-HICOM Berhad’s (DRB-H) RM380 million Fixed Rate Notes Issuance Facility. The assigned rating reflects the strength of the issue structure that has earmarked the proceeds of RM470 million from the sale of DRB-HICOM’s (DRB-H) interest in Credit Corporation (Malaysia) Bhd to Hong Leong Bank Berhad,...

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...