MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) RM300 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings are premised on the group’s below-average business risk profile which is underpinned by strong market positions in construction and property development and its fairly diversified operations across industry segments and key markets...

MARC has affirmed its long-term rating on independent oil terminal (IOT) owner, Assar Chemicals Sdn Bhd’s (ACSB) RM150 million Serial Sukuk Musyarakah (Sukuk) at AAAIS. The outlook on the rating is stable. The affirmed rating reflects the fundamentals of the underlying oil terminal project, underpinned by a 30-year agreement through 2037 with terminal users of superior credit standing. Contr...

MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Bonds) and RM100 million Murabahah Commercial Papers/ Medium Term Notes (MCP/MMTN) at A+ID and MARC-1ID/A+ID respectively. The outlook on the ratings is stable. A wholly-owned funding vehicle of SapuraCrest Petroleum Berhad (SapuraCrest), Bayu Padu’s debt is ultima...

MARC has revised its outlook on its ratings of Premium Nutrients Berhad’s (Premium Nutrient) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) to developing from stable. Concurrently, MARC has affirmed its MARC-2ID /AID ratings on the MUNIF/IMTN programme. The revised rating outlook reflects MARC’s concern about Premium Nutrient’s ...

MARC has affirmed its ratings of A+ID / MARC-2ID on Capable Aspect Sdn Bhd’s (CASB) RM40 million Islamic Medium Term Notes Issuance Facility/ Murabahah Underwritten Notes Issuance Facility (IMTN/MUNIF) respectively and maintained the ratings outlook at stable. The ratings of CASB reflect the competitive position of its wholly-owned subsidiary, Sinagama II Technologies Sdn Bhd (Sinagama), as ...

MARC has assigned MARC-1ID /AAAID ratings to UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Papers (ICP)/Medium Term Notes and RM500 million Islamic Medium Term Notes (IMTN).  Concurrently, MARC has affirmed its AAA corporate credit rating on UMW. The ratings reflect UMW’s leadership position in the domestic automotive industry, strong businesses of automotive, equip...

MARC has affirmed its AA-IS, MARC-1ID / AA-ID, AA-ID and MARC-1ID / AA-ID ratings on WCT’s RM300 million Redeemable Sukuk with Warrants, RM300 million Islamic Commercial Papers / Medium Term Notes, RM100 million Islamic Fixed Rate Serial Bonds and RM100 million Islamic Commercial Papers / Medium Term Notes Programmes respectively. At the same time, all ratings were removed from MARCWatch, wh...

MARC has affirmed its MARC-1(bg) and AAA(bg) ratings of Bluwater Developments Berhad’s (Bluwater) (formerly known as Mines Resort Berhad) short- and long-term ratings of its RM47 million Bank Guaranteed Commercial Papers (CPs) and RM130 million Bank Guaranteed Serial Bonds (Bonds) respectively. The ratings carry a stable outlook. The affirmed ratings and outlook are underpinned by the uncond...

MARC has placed its AID and MARC-2ID /AID ratings of Medi Innovation Sdn Bhd’s (MISB) RM100 million Islamic Medium Term Notes Issuance Facility (IMTN facility) and RM50 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) on MARCWatch Negative. MISB operates a chain of medical aesthetic clinics in Singapore and Hong Kong through Asti...

MARC has issued this rating update in connection with Sime Darby Property Berhad’s (SDPB) (formerly known as Guthrie Property Development Holding Berhad) proposed early redemption of the outstanding Islamic Medium Term Notes Programme (IMTN) totalling RM100 million which matures in March 2011. SDPB is currently seeking bondholders’ approval for the proposed early redemption and subsequ...