MARC has assigned a financial institution rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). The rating factors in BPMB’s established track record in financing infrastructure and maritime projects, its strong capitalisation, and most importantly, the strong regulatory and government support that it will very likely receive if needed. While MARC considers BPMB’s standalone credit...

MARC has affirmed the rating of MARC-2ID for Prinsiptek Corporation Berhad’s (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million. The negative outlook for the rating is maintained.  The affirmed rating reflects recent progress albeit slow, made in collecting its past due receivables, meaningful reduction in its debt burden and an order book position which provi...

MARC has downgraded its ratings on Hytex Integrated Berhad’s (Hytex) RM100 Million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) to MARC-3ID / BBB-ID from MARC-2ID /A-ID. The rating carries a developing outlook. The downgrade reflects the current strain on the apparel maker’s liquidity stemming from weaker industry fundamentals, recent ope...

MARC has downgraded its rating on Malaysian International Tuna Port Sdn Bhd’s (MITP) RM240.0 million Bai’ Bithaman Ajil Islamic Securities (BAIS) to BB+ID from A+ID while maintaining the rating on MARCWatch Negative, where it was first placed on February 19, 2009. MARC’s last rating update on August 4, 2009 had highlighted a potential capital injection of some RM32 million by a g...

MARC has reaffirmed the ratings of AAA and AAAID assigned to The Export-Import Bank of Korea’s (KEXIM) conventional and Islamic Medium Term Notes Programmes with a combined nominal value of RM3.0 billion. The ratings reflect KEXIM’s key role in supporting Korea’s export and import industries, strong standalone financial profile and its full government ownership. The ratings also ...

MARC has assigned a CID rating to Tracoma Holdings Bhd's (Tracoma) proposed RM100 million Restructured Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS).  The Restructured BaIDS will be issued in connection with Tracoma's debt restructuring plan which involves its existing BaIDS holders. Accordingly, MARC has withdrawn its D rating on Tracoma’s existing RM100 million BaIDS which ...

MARC has affirmed the AID rating on Antara Steel Mills Sdn Bhd’s (Antara) RM500.0 Million Bai’ Bithaman Ajil Islamic Debt Securities and concurrently removed the rating from MARCWatch Negative where it had been since February 3, 2009 over concerns on the financial impact of a three-month shutdown of its Labuan-based hot briquetted iron (HBI) plant in late last year. The rating outlook ...

MARC has affirmed Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) ratings of MARC-1ID /AAID on its RM435 million Islamic Notes Issuance Master Programme comprising RM50 million Murabahah Commercial Papers (MCPs) and RM385 million Murabahah Medium Term Notes (MMTNs). The developing outlook on the rating has been maintained pending finalisation of the acquisition of the water assets ...

MARC has affirmed its AAA, AA and A+ ratings on Vast Winners Sdn Bhd’s (Vast Winners) RM650.0 million Medium Term Notes Programme’s (MTN Programme) senior classes of RM190.0 million Class A, RM40.0 million Class B and RM20.0 million Class C, respectively. The outlook on the ratings is stable. The ratings mainly reflect the satisfactory performance of the securitised property, which has...

MARC has affirmed its AAA(bg) and MARC-1(bg) ratings on property developer Mega Palm Sdn Bhd’s Bank Guaranteed Medium Term Notes (BG MTN) of up to RM70.0 million and Bank Guaranteed Commercial Papers (BG CP) of up to RM80.0 million, respectively. The outlook for the ratings is stable. The rating action is underpinned by MARC’s affirmation of its AAA/MARC-1 public information ratings on...