MARC has affirmed the Islamic corporate debt ratings of AAAID (Islamic Debt) to Putrajaya Holdings Sdn Bhd’s (‘PJH’) RM570 million nominal value Bai Bithaman Ajil (BBA) Bonds Issuance Facility (Parcel C) and RM850 million nominal value BBA Bonds Issuance Facility (Parcel D) respectively. The affirmation of PJH’s corporate debt ratings reflects its solid capitalization supported...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed 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 no...

MARC has affirmed the long-term Islamic corporate debt rating of A-ID (A minus, Islamic Debt Securities) and short-term Islamic corporate debt rating of MARC-3ID assigned to Europlus Corporation Sdn Bhd’s (ECSB) RM250 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) respectively. The affirmed ratings reflect t...

MARC has received the confirmation from the Lead Arranger and Trustee that SPN’S RM1 billion Fixed Rate Bonds (1998/2003) have been fully redeemed on 15 April 2003. Hence, MARC no longer has any rating obligation on the bonds and the AAA(s) rating is hereby withdrawn. ...

MARC has received confirmation from the Trustee that the BaIDSholders for KLSSB’s Tranche 1 BaIDS of RM120 million has in an Extraordinary BaIDSholders Meeting (EBM) held on 3 April 2003, approved KLSSB’s proposal to defer the repayment of RM91 million of the face value of the said tranche, which is due on 4 April 2003 to a date falling six months thereafter with an option given to KLSSB to fu...

MARC has assigned an Islamic corporate debt rating of AAAID (Islamic Debt) to Putrajaya Holdings Sdn Bhd’s (‘PJH’) proposed RM850 million nominal value of Bai Bithaman Ajil (BBA) Serial Bonds Issuance Facility. Putrajaya Holdings Sdn Bhd’s (‘PJH’) rating reflects its solid capitalization supported by a superior set of shareholders; exceptional financial flexibility; importan...

MARC has reaffirmed the rating of KLSSB’s Tranche 1 BaIDS of RM120 million at A-ID (Single A minus Islamic Debt). The rating is, however, placed on MARCWatch with negative implications, reflecting MARC’s heightened concerns of KLSSB’s ability to collect the remaining billings from Promising Quality Sdn Bhd (PQSB) prior to the maturity of Tranche 1 BaIDS in April 2003. KLSSB is taking steps...

MARC has downgraded the rating of Brisdale’s Murabahah Underwritten Notes Issuance Facility (MUNIF) with an outstanding amount of RM46 million to MARC-4ID from MARC-3ID. The downgrade reflects the unsatisfactory progress of its existing Bandar Armada Putra (formerly known as West Port Tech Zone) housing development, which forms the main source of repayment of the facility. This has negatively af...

Malaysian Rating Corporation Berhad (MARC) has affirmed the Islamic debt ratings of MARC-1ID/AAAID (Islamic Debt) to Putrajaya Holdings Sdn Bhd’s (‘PJH’) RM300 million Murabahah Commercial Papers (CP)/Medium-Term Notes (MTN) Programme (2001/2004). PJH’s ratings reflect its solid capitalization supported by a superior set of shareholders; exceptionally strong financial flexibility; impor...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the long-term corporate debt rating of A (A flat) of Talam Corporation Berhad (Talam) RM150 million principal amount of 7-year 5.0% secured bonds with 107.6 million detachable warrants (2000/2007). The reaffirmation of the rating reflects the strength of the issue structure that is secured by a property development project, the Saujana ...