MARC has received confirmation from the facility agent, Abrar Discounts Berhad, that Ambang Sentosa Sdn. Bhd.’s (ASSB) RM388.0 million Class A Al-Bai Bithaman Ajil Islamic Debt / Asset Backed Securities (BaIDS/ABS) has been redeemed and cancelled on 28 July 2004. As such, MARC no longer has any rating obligation on the Class A BaIDS and the AA- ID rating is hereby withdrawn. We are currently u...

MARC has lifted the negative outlook placed on Europlus Corporation Sdn Bhd’s (ECSB) RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) following the normalization of ECSB’s construction work in the last four months. With the stabilization of raw material supplies and the continued efforts by ECSB to complete construction work on a timely basis, the cash flow emanating from t...

MARC has affirmed Perspektif Perkasa Sdn Bhd’s (PPSB) RM188 million nominal value Murabahah Underwritten Notes Issuance Facility rating of MARC-3ID. The rating is reflective of Bandar Pinggiran Cyber’s positioning as an affordable integrated township underlined by the competitive pricing of the residential development vis-à-vis other property developments within the vicinity. The township’s...

The reaffirmation of Talam Corporation Berhad’s (Talam) rating at A reflects its strong underlying issue structure, in which assignment of sale proceeds from the Saujana Puchong development project forms the source of repayment of the bond issue; the group’s strengthened capital structure; the improving financial profile of the group and its competitive position as one of the largest developer...

MARC has received confirmation from Kenanga Wangsa Sdn Bhd that its RM128 million Al-Bai Bithaman Ajil Islamic Debt Securities has been fully redeemed and it has arranged for the discharge of all securities related to the facility. As such, MARC no longer has any rating obligation on the facility and the A-ID rating is hereby withdrawn....

The upgrade of Sunrise Berhad’s (Sunrise) long-term rating of AID to A+ID reflects the company’s position as an established and successful condominium developer, evident from its signature development in Mont’Kiara (MK); strong financial position coupled with promising cash flow generation capacity, going forward. The short term rating has been maintained at MARC-2ID. Sunrise’s rating upgr...

MARC has upgraded the rating of MK Land Holdings Berhad’s (MK Land) RM150 Million Nominal Value of 3,5 and 7 year bonds with 142.1 million warrants (2001-2008) – Tranche 1 and RM150 Million Nominal Value of 3,5 and 7 year bonds with 142.1 million warrants (2002-2009) – Tranche 2; from A to A+. This is based upon the company’s excellent business position, its strong financial position and ...

MARC has received confirmation from the Lead Arranger and Trustee that a portion of Europlus Corporation Sdn Bhd’s RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) amounting to RM37.0 million has been fully redeemed on 22 March 2004. Hence, effective 22 March 2004, the facility limit has been reduced to RM233.0 million, taking into consideration the abovementioned redemption ...

MARC has assigned a rating of AID (A flat, Islamic debt) and A-ID (A minus, Islamic debt) to OSK Property Holdings Berhad (OSKP)’s Class A and B Serial Bai-Bithaman Ajil Islamic bonds (BaIDS) respectively. The A-ID rating assigned to Class B BaIDS reflects OSKP’s favourable flagship development – Bandar Puteri Jaya (BPJ) located in Sungai Petani, Kedah and its strong presence in that area; t...

MARC has received confirmation from the Facility Agent that KLSSB’s Tranche 1 BaIDS of RM91 million has been fully redeemed. As such, the A-ID rating is hereby withdrawn. In the meantime, the ratings for Tranches 2A, 2B, 3, 4A & 4B BaIDS totalling RM800 million remain unchanged at AID(s), reflecting the support provided by Bank Pembangunan & Infrastruktur Malaysia Berhad by way of a standby rev...