MARC has downgraded the rating of Olympia Industries Berhad’s (Olympia) outstanding RM49,733,635 nominal value Redeemable Unsecured Loan Stocks (RULS) to B+ from BB- and concurrently revised the rating outlook to stable from negative. The rating action reflects Olympia’s continued weak financial performance, in particular its limited cash flow generation ability arising from its weak b...

MARC has affirmed its AAAID /MARC-1ID and AAAIS ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances as follows:- RM570 million Bai Bithaman Ajil (BBA) Bonds Issuance Facility (due 2013) RM850 million BBA Bonds Issuance Facility (due 2013) RM850 million BBA Serial Bonds Issuance Facility (due 2015) RM1.5 billion Murabahah Notes Issuance (MUNIF) Facility (due 2015)RM2.2 billio...

MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM)     RM1.0 billion Commercial Paper/Medium Term Notes Programme (CP/MTN) with a stable outlook. The ratings action incorporates the satisfactory operating performance of its plantation, property and infrastructure segments, as well as the holding company’s broadly adequate liquidity and favour...

MARC has affirmed its financial institution rating of AAA on The Bank of East Asia, Limited (BEA). The rating is based on MARC's assessment of the bank's capacity to meet its financial obligations on the Malaysian national rating scale. The outlook on the rating is stable. BEA’s rating is underpinned by its long-established banking franchise in Hong Kong and mainland China, its strong asset ...

MARC has revised its outlook on its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) Programme to stable from negative. At the same time, MARC affirmed the AA+IS(bg) rating on the Sukuk Ijarah. The rating action on Aras Sejagat’s sukuk solely reflects the outlook change on MARC’s financial institution rating of th...

MARC has affirmed its ratings of A+, A and BBB+ on outstanding Class A, B and C notes issued by RCE Advance Sdn Bhd (RCEA) under its RM420 million Fixed Rate Medium Term Notes Programme. The ratings affect RM100 million of outstanding notes under Class A, RM98.5 million under Class B and RM60 million under Class C. The ratings outlook has been revised to stable from negative.RCEA is a special purp...

MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility at MARC-1(cg) /AAA(cg) and MARC-1ID(cg) /AAAID(cg) respectively. The ratings carry a stable outlook. The affirmed ratings and outlook are premised on the corporate guarantee pr...

MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating reflects GDC Putrajaya’s position as the sole producer and supplier of chilled water for the air-conditioning needs of all government premises and comm...

MARC has assigned its AAA rating on The Export-Import Bank of Korea’s (KEXIM) proposed RM1.0 billion Medium Term Notes (MTN) Programme.  At the same time, the agency has affirmed its AAA and AAAID ratings on KEXIM’s conventional and Islamic MTN Programmes with a combined nominal value of RM3.0 billion. The outlook on the ratings is stable. The ratings reflect KEXIM’s key rol...

MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes (IMTN) Programme rating at AAIS. Concurrently, MARC has removed APSB’s rating from MARCWatch Negative where it had been placed on August 22, 2011. The rating outlook is stable. The rating action concludes MARC’s review of the issue rating initiated in August 2011 following the ear...