MARC has affirmed the ratings of MARC-1ID /A+ID for KNM Capital Sdn Bhd’s (KNM Capital) RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) programme. The outlook of the ratings is revised to negative from developing. The rating action affects outstanding notes of RM95 million under the MUNIF/IMTN programme, which will expire in October 2013.KN...

MARC has assigned a rating of AAAIS(fg) with a stable outlook on property developer Bolton Berhad’s (Bolton) proposed RM230 million 7-year Islamic Medium Term Notes (IMTN) Programme. The assigned rating and stable outlook are underpinned by an unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in relation to the IMTN programme. Danajamin is curr...

MARC has affirmed the rating of Olympia Industries Berhad’s (Olympia) outstanding RM12,061,406 nominal value Redeemable Unsecured Loan Stocks (RULS) at B+ with a stable outlook. The rating incorporates the slow progress of the group’s sole property project, the 73-acre Kenny Heights Development (KHD) in Sri Hartamas in Kuala Lumpur, its weak financial performance and strained liquidity...

MARC has affirmed its B rating on DutaLand Berhad’s (DutaLand) outstanding RM13,121,392 Redeemable Unsecured Loan Stocks (RULS) with a stable outlook. The rating action reflects DutaLand’s weak business profile that is characterised by inconsistent performance of its property and plantation divisions and the group’s continued reliance on asset disposals to generate liquidity to m...

MARC has affirmed the AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating is aligned to MARC’s public information rating on the Sarawak state government (SSG) on the basis of its statutory body status as well as a letter of support provided by the SSG for the BaIDS and demonstrat...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution ratings of AA+/MARC-1, following the rating agency’s affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. (KFH) at AAA /MARC-1. The outlook on the ratings of both institutions is stable. The long-term rating of KFHMB...

MARC has downgraded its ratings on Tanjung Langsat Port Sdn Bhd’s (TLP) RM250.0 million Sukuk Musyarakah Bonds and RM135.0 million Musyarakah Commercial Papers/Musyarakah Medium  Term  Notes  Programme  (MCP/MMTN)  to  BBB+IS  and MARC-3ID /BBB+ID  from  A-IS  and MARC-2ID /A-ID respectively. The outlook on the ratings remains negative. The r...

MARC has affirmed its long-and short-term financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1, reflecting the bank’s very strong domestic competitive position, resilient earnings generation, sound risk management and strong capital adequacy. The ratings also incorporate the rating agency’s expectation of support given the bank’s systemic importance to...

MARC has affirmed the issue rating of AAA on Oversea-Chinese Banking Corporation Limited's (OCBC) redeemable subordinated bond of up to RM2.5 billion with a stable outlook. The rating action takes into account OCBC’s sizable retail and corporate banking franchise in Singapore and Malaysia, its excellent asset quality, its good core earnings profitability, and strong regulatory capitalisation...

MARC affirms the rating of TRIplc Ventures Sdn Bhd’s (TVSB) issuance of up to RM240.0 million Senior Medium Term Notes (MTN) at AAA(fg) with a stable outlook. The enhanced rating is premised on an unconditional and irrevocable financial guarantee by Danajamin Nasional Berhad (Danajamin) which has a rating of AAA/stable from MARC. Danajamin’s rating is premised on its role as Malaysia&r...