MARC has reaffirmed its MARC-2/AID rating for Maxtral Industry Berhad’s (Maxtral or the Group) RM80-million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20-million Murabahah Underwritten Notes/Murabahah Medium Term Notes (MUNIF/MMTN) facilities. The rating carries a stable outlook. The affirmation reflects Maxtral’s satisfactory operating performance, moderate debt levera...

MARC has reaffirmed the ratings of Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS. The negative outlook on the ratings has been maintained. The affirmed ratings reflect SACOFA’s exclusive rights in developing, owning and managing telecommunicat...

MARC has reaffirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million fixed rate serial bonds (CMBS 2004-1).  The reaffirmed rating reflects the performance of the securitised mortgage portfolio in particular, its low cumulative default rate and significant principal prepayments which have allowed credit enhancement for the transaction to increase to 42.0% from 26.0...

MARC has reaffirmed the ratings of Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS. The negative outlook on the ratings has been maintained. The affirmed ratings reflect SACOFA’s exclusive rights in developing, owning and managing telecommunicat...

MARC has affirmed its ratings of Glomac Berhad’s (Glomac) RM60 million Junior Bai’Bithaman Ajil Islamic Bonds (Junior BaIDS) and RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at A-ID /MARC-2ID respectively. The ratings outlook is stable. The affirmed ratings reflect the Group’s good market position, backed by the strategic location of Glo...

MARC has reaffirmed the AAAID long-term rating of Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating carries a stable outlook. GDC Putrajaya operates and maintains district cooling plants in Putrajaya, the Federal Administrative Capital of Malaysia. The affirmed rating reflects GDC Putrajaya’s...

MARC has reaffirmed the ratings of MARC-2/A- to Equine Capital Berhad’s (ECB) Commercial Papers/Medium Term Notes Programme (CP/MTN Programme) of up to RM95 million with a developing outlook. The rating affirmation reflects MARC’s expectations of improvements in ECB’s operating and financial performance, supported by generally positive broad housing market trends and ECB’s ...

The rating of Instacom SPV Sdn Bhd’s (Instacom SPV) RM200 million Murabahah Medium Term Notes (MMTN) has been reaffirmed at AA-ID. The rating outlook is stable. The re-affirmed rating reflects the credit quality of the rental payment stream from creditworthy telecommunications companies (telcos) for the use of telecommunications towers constructed by Instacom Engineering Sdn Bhd (Instacom En...

MARC has reaffirmed the long term ratings of ABS Plantation Assets Berhad’s (ABSP) RM50.0 million Class A and RM45.0 million Class B Bai Bithaman Ajil Islamic debt securities (Notes) at AAAID and AAID respectively. The affirmed ratings reflect the satisfactory performance of underlying plantation assets with the net operating income (NOI) of RM17.1 million for the period under review, well a...

MARC has reaffirmed its AAAID(s) ratings on Optimal Glycols (Malaysia) Sdn Bhd’s (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) RM453 million and RM567 million Bai Bithaman Ajil Islamic Debt Securities (‘BaIDS’) respectively. The ratings carry stable outlook. The ratings assigned to both Glycols’ and Chemicals’ issue...