MARC has lowered Dawama Sdn Bhd’s (Dawama) RM120.0 million Senior and RM20.0 million Junior Sukuk Musyarakah Medium Term Notes Programme (Sukuk) to AIS and A-IS respectively from A+IS and AIS. The outlook for the rating has been revised to negative from stable. The rating actions are premised on Dawama’s weakened credit profile stemming from significant losses for the 17-month accounti...

MARC has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd’s (Tradewinds Capital) asset-backed RM180 million Class A and RM30  million  Class  B Sukuk  Ijarah respectively, with a stable outlook. The affirmed ratings of the Class A and Class B Sukuk Ijarah reflect the satisfactory performance of the securitised plantation assets and higher-than...

MARC has affirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme (BBA CP/MTN) ratings of MARC-1ID /AA-ID. The developing outlook on the rating has been maintained to reflect the unresolved situation around the restructuring of the Selangor water sector and SYABAS’ deferred water tariff hike (please refer to...

MARC continues to maintain KMCOB Capital Berhad's (KMCOB Capital) AA-ID(CG) rating for its RM630 million Murabahah Medium Term Notes (MTN) facility on MARCWatch Developing where it has been placed since December 30, 2009. MARC expects to resolve the Developing Watch within the next three months upon completion of Scomi Group Bhd's (Scomi) recently announced debt rationalisation exercise for Scomi ...

MARC has affirmed its ratings of Prima Uno Berhad’s (Prima Uno) RM290 million Super Senior A and RM335 million Super Senior B bonds at AAA respectively with a stable outlook. Concurrently, the ratings for the RM190 million Senior, RM40 million Mezzanine and RM95 million Subordinated bonds have been downgraded to A-, B and C from AAA, AA and BB- respectively, with a negative outlook. The affi...

MARC has removed its ratings on Petra Perdana Berhad’s (Petra) RM400 million Secured Serial Bonds and RM400 million Medium Term Notes from MARCWatch Developing, where they had been placed on December 16, 2009 following the company’s divestment of a 25.03% stake in Petra Energy Berhad (Petra Energy). At the same time, MARC has affirmed its A+ debt ratings on Petra with a Stable Outlook....

MARC has assigned a rating of AAIS on Haluan Gigih Sdn Bhd’s (HGSB) proposed Sukuk Musyarakah Medium Term Note (IMTN) Programme of up to RM240.0 million. Proceeds will be used to fund the RM157.5 million acquisitions of two office buildings, with the balance to fund inter-company advances to its parent, Alloy Consolidated Sdn Bhd (ACSB). The assigned rating reflects MARC's assessment of HGSB...

MARC has downgraded its rating on Matang Highway Sdn Bhd’s (Matang) RM70.0 million Sukuk Musharakah issuance to AIS from AA-IS and concurrently removed the rating from MARCWatch Negative where it was first placed on August 6, 2009. The rating outlook is negative. The rating actions reflect the tight liquidity of Matang as a result of the knock-on consequences of construction delay in Matang&...

MARC has affirmed its AA- rating on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and has revised the outlook on the rating to stable from negative. The rating affirmation takes into account Scomi’s reduced dependence on its oilfield services division with higher earnings contributions from its engineering and marine business divisions and the additional cap...

MARC has affirmed the AA-(bg) and AA-ID rating on Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM365 million Bank Guaranteed Serial Fixed Rate bonds (BG Bonds) and RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) respectively. The ratings outlook is stable for both facilities. The rating on the BG Bonds reflects the strength of the lowest financial institution ratin...