MARC has affirmed its ratings on Gandalf Capital Sdn. Bhd.’s (Gandalf Capital) RM118.0 million CPs/MTNs (the Notes) comprising RM87.0 million Class A Notes, RM16.0 million Class B Notes  and RM15.0 million  Class C Notes. The Class A Notes are rated MARC-1/AAA; the Class B Notes are rated MARC-1/AA; and the Class C Notes are rated MARC-1/A. The affirmed ratings reflect the stable l...

MARC has reaffirmed the AAA(s)ID rating of Kuching Port Authority’s (KPA) RM180 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is stable. KPA is the first organised port in the state of Sarawak. The AAA(s)ID  is rooted in the evident implicit support by the Sarawak State Government for KPA’s BaIDS through a letter of support which undertake...

MARC has revised its outlook to positive on Atlan Holdings Bhd’s (Atlan) MARC-2ID /AID ratings of its RM90.0 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/ IMTN). The outlook revision follows the announcement of Atlan’s forthcoming acquisition of the entire business undertakings of Naluri Corporation Berhad (Naluri) including all its assets and...

MARC has upgraded Land & General Berhad’s (L&G) Redeemable Convertible Secured Loan Stocks (RCSLS) of up to RM320,962,637 to B from B-. The outlook for the rating is Developing. The upgrade reflects the Group’s improved credit profile and liquidity position which is mainly attributed to significant debt reduction during the past year. Using proceeds from asset sales under its o...

MARC has assigned AAAID /MARC -1ID and MARC-1ID ratings to the novated RM1.5 billion Murabahah commercial paper/medium term notes programme (CP/MTN) and RM150 million Murabahah CP programme of Sime Darby Berhad (formerly known as Synergy Drive Berhad) (SDB). Arising from the merger of Golden Hope Plantation Berhad (Golden Hope), Kumpulan Guthrie Berhad (Guthrie), the former Sime Darby Berhad (now ...

MARC has reaffirmed its MARC-2/A ratings of TH Group Berhad’s (THG) RM200 million Commercial Papers/ Medium Term Notes (CP/MTN). The ratings carry a developing outlook. The ratings reflect the profitability of THG’s plantation operations and expected improvement in its earnings and cashflow as a result of declining losses on its unprofitable venture capital and money lending businesses...

The long term rating of IJM Corporation Berhad’s (IJM) RM300.0 million Commercial Papers/Medium Term Notes Programme (CP/MTN) has been upgraded to AA- from A+ while its short term rating has been reaffirmed at MARC-1. The rating upgrade reflects the group’s strong operating financial performance, its enhanced financial profile following its merger with Road Builder (M) Holdings Bhd (RB...

MARC has affirmed the ratings of MARC-2ID /A-ID on Oilcorp Berhad’s (“Oilcorp” or “the Group”) RM70.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (“MUNIF/IMTN”). The outlook on the ratings is stable. The affirmed ratings reflect the Group’s average business profile underscored by its continuous dependence...

MARC has upgraded Gas Malaysia Sdn Bhd’s (“Gas Malaysia”) long term rating to AAAID from AA+ID and reaffirmed its short term rating at MARC-1ID with respect to its RM200.0 million Al-Murabahah Commercial Papers/Medium Term Notes Programme (“CP/MTN”) and RM500.0 million Al-Murabahah Medium Term Notes Programme (“MTN”). The ratings outlook is stable. The upg...

MARC has upgraded TSH Resources Berhad’s (TSH or the Group) RM60 million Murabahah Medium Term Notes (MMTN) rating to AA- ID from A+ ID, and reaffirmed its RM40 million Al-Murabahah Commercial Papers (MCP) rating at Marc-1ID. The ratings carry a stable outlook. The long-term rating upgrade reflects a strengthening of TSH’s financial profile due to the continuation of favourable palm oi...