MARC has affirmed its ratings of MARC-1ID /AAID and A+ID on Cellular Structures Sdn Bhd’s (CSSB) RM60.0 million Senior MUNIF/IMTN (Senior Notes) and RM8.0 million Junior IMTN (Junior Notes) respectively with stable outlook. The ratings reflect the credit strength of the telecommunication operators (telcos) which are contractually obligated to make fixed monthly rental payments for the towers...

MARC has affirmed its ratings of MARC-1ID/AAID and A+ID on Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90.0 million MUNIF/IMTN Facility (Senior Notes) and RM10.0 million Junior IMTN Facility (Junior Notes) respectively with stable outlook. The ratings reflect the credit strength of the telecommunication operators (telcos) as the source of repayment for the notes backed by a 10-year lic...

MARC has affirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM45.0 million Murabahah Commercial Paper (MCP) Programme and maintained a negative outlook on the rating. The negative outlook reflects continued concerns over insufficient operating cash flows to support the build-up of MMV’s sinking fund from August 2011 onwards to meet its first CP redemption of RM20.25 million du...

MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relation ...

MARC has affirmed its ratings on KNM Capital Sdn Bhd’s (KNMCap) RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID/AA-ID. The outlook on the ratings is stable. KNMCap is a wholly-owned subsidiary and the funding conduit for KNM Group Berhad (KNM). The ratings reflect the group’s strong market position, well-diversified p...

MARC has upgraded the rating on Hong Leong Financial Group Berhad’s (HLFG) RM800 million Commercial Paper and Medium Term Notes Programme (CP/MTN) to AA/MARC-1 from AA-/MARC-1. The rating upgrade incorporates the demonstrated ability of its main banking subsidiary, Hong Leong Bank Berhad (HLB) to generate solid earnings through the recent challenging period, the sound financial and oper...

MARC has affirmed its AAA rating on Oversea-Chinese Banking Corporation Limited’s (OCBC) redeemable subordinated bonds of up to RM2.5 billion. The rating affirmation takes into account OCBC’s established financial services franchise in Singapore and Malaysia, its strong capitalisation, diversified sources of income and improved risk management procedures. While MARC factors in the subo...

MARC has affirmed its AAA insurer financial strength rating on Danajamin Nasional Berhad (Danajamin). The rating outlook is stable. The rating and outlook on the rating reflect Danajamin’s important role and status as Malaysia’s first and sole financial guarantee insurer (FGI) and its status as a government-sponsored entity. Licensed under the Insurance Act 1996 and regulated under the...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFHMB) long- and short-term financial institution ratings at AA+/MARC-1. The affirmation of KFHMB’s ratings follows the affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. at AAA/MARC-1. KFHMB is rated one notch below KFH to reflect the strategic importance of th...

MARC has affirmed its ratings on special purpose company DHTI Capital Sdn Bhd’s (DHTI Capital) RM110 million Islamic Commercial Papers/Islamic Medium Term Notes (Senior Notes) and RM10 million Junior Islamic Medium Term Notes (Junior Notes) at MARC-1ID/AAID and A+ID respectively. The rating outlook is stable. The affirmed ratings reflect the credit quality of the rental payment stream from c...