MARC has affirmed its short-term MARC-2ID and long-term AID ratings on wood-based product manufacturer Maxtral Industry Berhad’s (Maxtral) RM80 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes/Murabahah Medium Term Notes (MUNIF/MMTN) facilities. The outlook on the rating has been revised to negative from stable to reflect increased pr...

MARC has affirmed the MARC-1ID(cg)/AA-ID(cg) ratings on Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP)/Medium Term Notes (MMTN) with a nominal value of up to RM300 million. The ratings carry a stable outlook. The ratings and ratings outlook reflect the credit quality of guarantees extended by HISB’s holding company, Gamuda Berhad (Gamuda), a leading construction c...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The rating carries a stable outlook. SPVB is a special purpose entity established with the sole purpose of issuing the asset-backed serial bonds, the proceeds of which were used to acquire future receivables amounting to RM1,699.63 million (includin...

MARC has affirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA, respectively. The ratings carry a stable outlook. TMB, a financing vehicle wholly-owned by the turnkey developer of Port Klang Free Zone (PKFZ), Kuala Dimensi Sdn Bhd (KDSB), was...

MARC has affirmed its AAAID /MARC-1ID ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances, as follows:-    • RM765 million Bai Bithaman Ajil (BBA) Bonds Issuance Facility (due 2010)    • RM570 million BBA Bonds Issuance Facility (due 2013)    • RM850 million BBA Bonds Issuance Facility (due 2013)    • ...

MARC has affirmed its stand alone ratings on Mulpha International Berhad’s (MIB) RM25.0 million Murabahah Commercial Paper / Medium Term Notes (CP/MTN) facility at MARC-1ID/AID and its supported MARC-1ID(bg)/AA-ID(bg) ratings on MIB’s RM75.0 million Bank Guaranteed (BG) Murabahah Notes Issuance Facility (MUNIF). The affirmed BG ratings reflect the lower of the financial institution rat...

MARC has affirmed the ratings of ARL Power Sdn Bhd’s (ARLP) RM177.0 million Al Bai’ Bithaman Ajil Secured Serial (ABBA) Bonds and RM50.0 million Islamic Medium Term Notes (IMTN) at A+ID. The ratings carry a stable outlook. The ratings principally reflect the strength of cash flows generated under a 21-year power purchase agreement (PPA) with Sabah Electricity Sdn Bhd (SESB), an 80%-own...

MARC has upgraded Atlan Holdings Bhd’s (Atlan) RM90.0 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF / IMTN) ratings to MARC-1ID /A+ID from MARC-2ID /AID. The rating outlook is stable. The ratings upgrade is premised on the overall improvement in the credit profile of the enlarged Atlan group following the acquisition of Naluri Corporation Berhad (N...

MARC has affirmed the rating of Land & General Berhad’s (L&G) Redeemable Convertible Secured Loan Stocks (RCSLS) of up to RM320,962,637 at B. The rating carries a stable outlook. The affirmed rating reflects the satisfactory progress made in its ongoing Asset Disposal Programme (ADP), a critical component of a debt restructuring scheme agreed upon in 2003. The ADP is principally prov...

MARC has affirmed the ratings of MARC-1 /A+ and A+ to Radicare (M) Sdn Bhd’s (Radicare) RM100.0 million Commercial Papers/Medium Term Notes (CP/MTN) and RM50.0 million Medium Term Notes (MTN) facilities respectively. The ratings outlook is stable. The affirmed ratings reflect steadily rising revenues underpinned by increasing demand for hospital support services for contracted hospitals that...