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 Consequently, Malaysian Rating Corporation Berhad (MARC) has withdrawn its rating on Setia Putrajaya’s MuNIF....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...

Malaysian Rating Corporation Berhad (MARC) has assigned issuer ratings of AAA/MARC-1 to Putrajaya Holdings Sdn Bhd (PJH) and corporate debt ratings of AAAID/MARC-1ID to the latter’s proposed RM300 million Murabahah Commercial Papers (CP)/Medium-Term Notes (MTN). The ratings reflect PJH’s solid capitalization supported by a superior set of shareholders; exceptionally strong financial flexibili...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed Setia Putrajaya Sdn Bhd’s (Setia Putrajaya) ratings of MARC-2ID / A+ID and MARC-2ID for its RM375 million Murabahah Notes Issuance Facility/Medium Term Notes and RM170 million Murabahah Notes Issuance Facility respectively.The ratings reaffirmation reflect Setia Putrajaya’s manageable construction risk given its ability to complete its...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic corporate debt rating of A-ID (A minus, Islamic Debt Securities) to Maxisegar Sdn Bhd’s (Maxisegar) RM600 million Al-Bai Bithaman Ajil with Islamic Debt Securities (BaIDS) facility. The rating of Maxisegar’s BaIDS reflects a tight underlying issue structure, where the progress billings from secured sales of specif...

Malaysian Rating Corporation Berhad (MARC) has affirmed Talam Corporation Berhad’s (Talam) RM150 million secured bonds rating at A (single A flat). The affirmation of the rating reflects the strength of the issue structure that is secured by a property development project, the Saujana Puchong Project, which forms the primary source of repayment of the bonds issue. In addition, the favourable p...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-3ID to Pembangunan Brisdale Sdn Bhd’s (PBSB) RM55 million Murabahah Underwritten Notes Issuance Facility (MUNIF). The rating reflects the strength of the issue structure under which secured sales from the West Port Tech Zone housing project have been earmarked for the redemption of the MUNIF. Positive features ...