MARC has affirmed Glomac Berhad’s (“Glomac”) rating of RM50.0 million Senior Bai’ Bithaman Ajil Islamic Bonds at A+ID; RM60.0 million Junior Bai’ Bithaman Ajil Islamic Bonds (Junior BaIDS) at AID and RM25.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The ratings reflect the company’s established position as a reputable property deve...

MARC has reaffirmed the ratings of Petronas Assets Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows: Bai Al-Dayn Notes Issuance Facility with a nominal value of RM282 million (NIF): AAAID Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a nominal value of up to RM500 million: MARC-1ID/AAAID The reaffirmation of the ratings reflects the credit strength of Petr...

MARC has reaffirmed Putrajaya Holdings Sdn Bhd’s (PJH) long term and short term issuer rating of AAA and MARC-1, respectively and its Islamic corporate debt ratings of AAAID/MARC-1ID in respect of its Bai’ Bithaman Ajil Bonds Issuance Facilities for Parcels A, B, C, D, Public Facilities Precinct 10, Wisma Putra & Deputy Prime Minister’s Residence (DPMR) and Ministry of Finance Complex and it...

MARC has received notification from the Facility Agent - Abrar Discounts Berhad that PBSB had obtained the approval of the bondholder on 26 August 2004 to extend the MUNIF tenure by nineteen months from 30 August 2004 to 31 March 2006, plus some variation to the security and sinking fund structure of the MUNIF (the Extension Exercise). This Exercise is pending submission to the Securities Commissi...

MARC has assigned a rating of A (A flat) to WCT Land Berhad’s (WCTL) Convertible Redeemable Debt Securities (CRDS) of a nominal value of RM132 miliion. The CRDS will be utilised to part refinance existing advances from its major shareholder, WCT. As part of a corporate exercise involving the acquisition of Bescorp Industries Berhad (BIB) (Special Administrators appointed) by WCTL, WCT will in tu...

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 As such, MARC no longer has any rating obligation on the Class A BaIDS and the AA- ID rating is hereby withdrawn.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....