MARC has reaffirmed its AAAID ratings on Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) RM250 million Al Bai Bithaman Ajil Islamic Debt Securities (‘BaIDS’). The rating outlook is stable. The rating reflects Olefins’ strong ownership structure, its secured feedstock source and favourable feedstock price structure from Petroliam Nasional Berhad (‘Petronas...

MARC has affirmed the rating of Free Zone Capital Berhad’s (FZCB) RM410.0 million fixed rate serial bonds and up to RM70.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and AAA/MARC-1 respectively. The ratings carry a stable outlook.FZCB is a wholly owned subsidiary of Kuala Dimensi Sdn Bhd (KDSB), incorporated solely for the purpose of issuing the fixed rate serial b...

Class Auto Receivables Berhad (Class Auto), a special purpose vehicle whose shares are held by the share trustee for the benefit of certain charities, was incorporated for the purpose of purchasing hire purchase receivables from the originator, CIMB Bank Berhad (CIMB Bank) from time to time.  Under the proposed transaction, Class Auto will purchase a selected pool of hire purchase receivables...

MARC has removed the MARC-2ID /A-ID ratings of Hytex Integrated Berhad’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. ...

MARC has reaffirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The reaffirmed ratings reflect the low defaults and delinquencies of the receivables backing the notes; and ample cash balances in the designated accounts ...

MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms or the Issuer) RM100.0 million Series A; RM90.0 million Series B and RM10.0 million Series C Sukuk Ijarah at AAAIS, AAIS and AIS respectively. The ratings affirmation of Series A and B Sukuk Ijarah reflects the quality of the collateral and the adequate performance of the securitized estates under the sale and leaseback transa...

MARC has reaffirmed the A+ID /MARC-1ID ratings of Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance / Islamic Medium Term Notes Facility. The rating outlook is stable. The reaffirmed ratings reflect the group’s consistent financial performance and its competitive position in the supply of high density polyethylene (HDPE) engineering products to the water and s...

MARC has reaffirmed the A+ long term rating of Puncak Niaga Holdings Bhd’s (“PNHB”) RM546.875 million Redeemable Unconvertible Junior Notes (“RUN”) with detachable warrants. The rating outlook is stable. The RUN are rated the same as its subsidiary, Puncak Niaga (M) Sdn Bhd’s (“PNSB”) Junior Notes A (“A Notes”) which are secured on a back...

The ratings of Puncak Niaga (M) Sdn Bhd’s (“PNSB”) RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM546.875 million Junior Notes A (“A Notes”) have been reaffirmed at AAID and A+ respectively. MARC has also affirmed PNSB’s RM435 million Nominal Value Redeemable Unsecured Bonds (“RUBs”) ratings at A+. The ratings ca...

MARC has assigned a rating of AAIS  to MNRB Holdings Berhad’s (MNRB) Islamic Medium Term Notes (IMTN) Issuance Programme of RM200.0 million. The rating outlook is stable. This rating is reflective of the financial strength of its operating subsidiary, Malaysian Reinsurance Berhad (Malaysian Re) as well as MNRB’s strong consolidated capitalisation and financial flexibility. Partial...