MARC has reaffirmed its MARC-2ID/AID ratings on Premium Nutrients Berhad’s (“PNB”) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The ratings reflect PNB’s good business position as a specialty and non-specialty fats manufacturer with a broad product range and geographically diversified...

MARC has reaffirmed the MARC-2ID /AID short-term and long-term ratings respectively of second-tier automation and material handling solution provider, Malaysian AE Models Holdings Berhad’s (MAE) RM200 Million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) programme. The ratings carry a developing outlook. The reaffirmed ratings reflect MAE’s strong operating performance,...

MARC has affirmed IJM Plantations Berhad’s (IJMP) RM150 Million Al-Bai Bithaman Ajil Islamic Debt Securities (ABBA) rating at A+ID with stable outlook underpinned by the company’s consistent operating performance and well managed plantations on the back of positive industry fundamentals and the company’s favourable capital structure. These strengths are moderated by IJMP’s ...

MARC has reaffirmed its A- rating of Bintang Bulk Mover Sdn Bhd (BBM or the Group) with respect to its RM50 million 5-year secured serial bonds. The rating outlook is stable. The reaffirmed rating reflects BBM’s growing revenue base supported by cement transportation and container haulage businesses and its venture into complementary businesses such as warehousing. Moderating factors include...

MARC has affirmed Mulpha International Bhd’s (“MIB”) RM75.0 million Bank Guaranteed Murabahah Notes Issuance Facility (“MUNIF”) ratings of AA- ID (bg)/MARC-1 ID (bg). The enhanced ratings reflect the lower of the two financial institution ratings assigned to Aminvestment Bank Berhad and CIMB Berhad which are rated AA- and AA respectively, which have provided unconditi...

MARC has reaffirmed the ratings of OSK Property Holdings Bhd (OSKP)’s Class A and Class B BaIDS at AID and A- ID respectively. The ratings outlook is negative. The ratings reflect OSKP’s strong presence in Sungai Petani, Kedah through its development in Bandar Puteri Jaya (BPJ), strong shareholders support, moderate level of cash flow diversification and financial flexibility. However,...

MARC has reaffirmed the rating of Petronas Assets Sdn Bhd’s (PAssets) RM282 million Bai Al-Dayn Notes Issuance Facility (NIF) at AAAID. The rating outlook is stable. PAssets is the owner and lessor of certain systems, equipment, machinery and other fixed assets and chattels located at PETROSAINS Discovery Centre (Petrosains Assets) and Tower 1 of the PETRONAS Twin Towers. The reaffirmed rati...

MARC has affirmed the ratings of MARC-2ID /AID to Symphony House Berhad’s (Symphony) RM100.0 million Islamic Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a developing outlook. The affirmed ratings are based on the average business risk profile of Symphony, in particular that of its main earnings contributor, Business Process Outsourcing (BPO) operations, and the ...

MARC has reaffirmed its A rating on Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS). The rating carries a developing outlook.The rating is reaffirmed based on strong water demand in the state of Johor, and the predictable income streams of its wholly-owned subsidiary, Southern Water Corporation Sdn Bhd (SWC) and 49% owned associated ...

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...