MARC has affirmed the ratings of Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) at AID / MARC-2ID. The outlook is stable. The ratings reflect EKIB’s leadership in the domestic geosynthetic market, improved financial performance as well as enhanced operational efficiency ...

MARC has revised its outlook on Sunrise Berhad’s (Sunrise) ratings of MARC-1ID /A+ID on RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) and A+ID on its RM400.0 million IMTN facility to stable from positive. Concurrently, MARC has affirmed the ratings. The outlook revision reflects expectations of moderation in sales momentum mainly due to weak property...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) RM100 million nominal value of Class A, RM20 million nominal value of Class B and RM40 million nominal value of Class C Senior Sukuk Ijarah at AAAIS , AAIS and AAAIS(bg), respectively. The ratings of Class A and B Senior Sukuk Ijarah reflect the quality and diversity of the collateral properties, liquidity support provided by a no...

MARC has reaffirmed the AAAIS  rating of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A. The rating reflects the transaction structure of the receivables-backed sukuk issuance as well as the underlying credit quality of the sole obligor, the Government of Malaysia (GOM). The receivables backing the sukuk constitute irrevocable and unconditi...

MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...

MARC has affirmed its BB- rating of Olympia Industries Berhad’s (OIB) outstanding RM85,860,360 nominal value Redeemable Unsecured Loan Stocks (RULS). The rating outlook is stable. The affirmed rating incorporates OIB’s improved credit profile following the completion of its debt restructuring exercise. Since MARC’s previous rating action, OIB has regularised its financial positio...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed Sukuk Musyarakah issuance of RM2,110.0 million (CMBS 2007-1-i) at AAAIS. The rating reflects the satisfactory performance of the collateral pool, in particular its low cumulative default rate and slightly lower than projected prepayment rate which has resulted in a modest increase in credit enhanceme...

MARC has affirmed the rating of DutaLand Berhad’s (formerly known as Mycom Berhad) (Dutaland) RM60,315,280 nominal value Redeemable Unsecured Loan Stocks (RULS) at BB-. The rating outlook is stable. The affirmed rating reflects DutaLand’s improved credit profile following the completion of its debt restructuring exercise, which includes its enhanced operating performance, attributed to...

MARC has affirmed ratings of A+ID / MARC-2ID to Capable Aspect Sdn Bhd’s (CASB)  RM40 million Islamic Medium Term Notes Issuance Facility/ Murabahah Underwritten Notes Issuance Facility (‘IMTN/MUNIF’) respectively. The ratings carry a stable outlook. The ratings for CASB principally reflect the low risk business profile, strong financial performance and improved credit prote...

MARC has reaffirmed the ratings of CapOne Bhd’s (CapOne) RM600.0 million Super Senior Class A-1 bonds and RM250.0 million Senior Class A-2 bonds at AAA and downgraded RM50.0 million Mezzanine Class B bonds and RM100.0 million subordinated secured bonds from AA to A- and B to C respectively. At the same time, the ratings were removed from MARC Watch, where they had been placed on March 28, 20...