MARC has affirmed the long term rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 Million Murabahah Medium Term Notes (MMTN) Programme at AID with stable outlook, reflecting its strong position as a domestic direct reduced iron (DRI) producer, expectations for continued improvement in credit quality as the company benefits from higher steel prices and production volumes in addition to effi...

MARC has reaffirmed the ratings of A+ID and MARC-2ID /A+ID on Konsortium Lapangan Terjaya Sdn Bhd’s (“KLT”) RM380.0 million Bai Bithaman Ajil Medium Term Notes (“BBA MTN”) and up to RM80.0 million Murabahah Commercial Papers/Medium Term Notes Programme respectively (“MCP/MTN”) (collectively known as “Finance Facilities”). The ratings carry a st...

MARC has downgraded the ratings of Intelbest Corporation Sdn Bhd’s (ICSB) RM110.0 million Bai Bithaman Ajil Bonds (BaIDS) and RM50.0 million Murabahah Notes Issuance Facility (MUNIF). The ratings on ICSB’s Series 1 BaiDS of RM20.0 million, Series 2 BaIDS of RM35.0 million and Series 3 BaIDS of RM55.0 million have been downgraded to B+ID from BBB+ID and BBBID respectively; whilst the ra...

The rating of Negeri Sembilan Cement Industries Sdn Bhd’s (“NSCI”) RM200 million Bai’ Bithaman Ajil Islamic Debts (“BaIDS”) has been affirmed at AA- ID (bg) whilst the ratings of its RM130 million Murabahah Notes Issuance Facility (“MUNIF”) have been reaffirmed at A- ID /MARC-2 ID.The affirmation of the bank guaranteed BaIDS reflects use of the &ldqu...

MARC has assigned ratings of AAA/AAAID and MARC-1/MARC-1ID, respectively, to the Conventional and Islamic Medium Term Note Programme of up to RM40.0 billion (“MTN Programme”) and the Conventional and Islamic Commercial Paper Programme of up to RM20.0 billion (“CP Programme”) (collectively known as the “Programmes”) to be issued by Cagamas Berhad (Cagamas). The r...

MARC has assigned ratings of AA-IS and MARC-1ID to Alam Maritim Resources Berhad’s (AMRB or the Company) RM500 million Sukuk Ijarah MTN Facility and RM100 million Murabahah Commercial Papers/ Medium Term Notes Facility (MCP/MMTN). The ratings carry a stable outlook.The ratings reflect AMRB’s strong business position, favourable growth prospects, healthy financial condition as well as s...

MARC has assigned ratings of A+ID / MARC-2ID to Capable Aspect Sdn Bhd’s (CASB) proposed issuance of up to 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, a holding company, principally reflect the projected financial and credit profile of Sinag...

MARC has assigned a rating of AAAIS to Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed Sukuk Musyarakah Issuance of RM2,110.0 million. The rating reflects the quality of the securitized government staff Islamic home financing (GSIHF); overcollateralisation of 120.3% which allows the transaction to withstand AAA default and prepayment stresses; and, procedures in place to monitor the secur...

MARC has lowered its ratings on Paradym Resources Industries Sdn Bhd’s (“PRI”) RM40 million Islamic Commercial Papers / Medium Term Notes Issuance Programme (“ICP/MTN”) to CID /MARC-4ID from AID /MARC-2ID. The ratings remain on MARCWatch Negative. The downgrades reflect MARC’s concerns as to the company’s ability to fund near-term commitments arising from ...

MARC has assigned the ratings of AAAID(bg) and MARC-1ID(s) to the proposed issuance of Arapesona Development Sdn Bhd’s (Arapesona) Islamic Bank Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200.0 million and Islamic Commercial Papers (ICP) Programme of up to RM70.0 million respectively. The outlook of the ratings is stable. Arapesona is a 50:50 joint venture formed by UEM Land Sdn...