The rating affirmation of Maxisegar Sdn Bhd‘s (Maxisegar) RM300 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) at A-ID is supported by the strength of the underlying issue structure, in which, secured sales from specific property development projects have been earmarked for the redemption of the BaIDS issue. Positive features of the issue structure include security coverage of 1.28...

Malaysian Rating Corporation Berhad (MARC) has assigned a rating of AID (single A flat, Islamic Debt) to Sunrise Berhad’s (Sunrise) RM100.0 million Bai’ Bithaman Ajil Notes Issuance Facility and AID / MARC-2ID ratings to the RM70.0 million Islamic Medium Term Notes and Murabahah Notes Issuance Facility respectively. The rating reflects the commendable position of Sunrise as a reputable and aw...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed Setia Putrajaya Sdn Bhd’s (Setia Putrajaya) rating of MARC-2ID for its RM170 million Murabahah Notes Issuance Facility.The rating reaffirmation reflects Setia Putrajaya Sdn Bhd’s (Setia Putrajaya) manageable construction risk given its ability to complete its construction works in a timely manner; the en-bloc sale of the bulk of residen...

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 received the confirmation from the Facility Agent that MPSB’s MuNIF Notes have been bought back in full by MPSB and cancelled accordingly. Hence, MARC no longer has any rating obligation on MPSB’s MuNIF Facility and the MARC 2-ID rating is hereby withdrawn. ...

Malaysian Rating Corporation Berhad (MARC) has assigned Islamic debt ratings of MARC-1ID/AAAID (Islamic Debt) to PETRONAS Assets Sdn Bhd’s (PAssets) Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with nominal value of up to RM500 million. The ratings reflect the credit strength of Petroliam Nasional Berhad (PETRONAS), the user of specific Assets belonging to Petronas Asse...

Setia Putrajaya Sdn Bhd (Setia Putrajaya) has redeemed and cancelled the remaining RM39.5 million of its RM375 million Murabahah Notes Issuance Facility (MuNIF) on 8 November 2001, ahead of its expiry date of 10 November 2001. Consequently, Malaysian Rating Corporation Berhad (MARC) has withdrawn its rating on Setia Putrajaya’s MuNIF....

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic corporate debt rating of A-ID (A minus, Islamic Debt Securities) to Puncak Alam Housing Sdn Bhd’s (PAH) RM75 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facility. The rating reflects the strength of the underlying issue structure, with the BaIDS issue backed by secured sales from specific property d...

Malaysian Rating Corporation Berhad (MARC) has affirmed Putrajaya Holdings Sdn Bhd’s (PJH) RM1,109 million Al-Bai Bithaman Ajil (ABBA) Bonds Issuance Facility (Parcels A, B & Public Facilities Precinct 10) (2000-2010) rating at AAAID. The rating affirmation reflects PJH’s solid capitalization supported by a superior set of shareholders; exceptionally strong financial flexibility; importance o...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed Syarikat Perumahan Negara Bhd’s (“SPN”) RM1 Billion Fixed Rate Bond rating at AAA(s). The rating reaffirmation is primarily based on the external enhancement or support in the form of a ‘put option’, provided irrevocably and unconditionally by Petroliam Nasional Bhd (PETRONAS) to the bondholders. The option requires PETRONAS to p...