MARC has reaffirmed the rating of AA- IS on Vastalux Capital Sdn Bhd’s (VCSB) RM100.0 million Sukuk Musyarakah. The rating outlook is stable. The rating reflects the credit strength of payment stream arising from the performance of contracts secured from PCSB. The contracts have tenures and cash flows that match VCSB’s obligations under the Sukuk Musyarakah. Payments from PCSB are capt...

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 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 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...

Under this Ijarah transaction, DRIR Management Sdn. Bhd. (DRIRM), will issue RM180.0 million Class A and RM160.0 million Class B Sukuk Ijarah Medium Term Notes (MTN) under a Sukuk Ijarah MTN Programme of up to RM850.0 million, the proceeds of which will be used to acquire 12 helicopters from its related company, MHS Aviation Berhad (MHSA) and refinance borrowings previously taken to acquire four h...

MARC has assigned MARC-1/A+ and A+ ratings to Radicare (M) Sdn Bhd’s (Radicare) RM100.0 million Commercial Papers/Medium Term Notes (CP/MTN) and RM50.0 million Medium Term Notes (MTN) facilities respectively. The ratings carry a stable outlook. The ratings reflect the credit quality of the receivables securing the notes, a 1.20 times security cover of the amount issued under the CP/MTN facil...

MARC has reaffirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Bonds) and RM100 million Murabahah Commercial Papers/ Medium Term Notes (MCP/MMTN) (cumulatively, Islamic debt facilities) at A+ID and MARC-1ID/A+ID respectively. The outlook on the ratings is stable. Bayu Padu is a wholly-owned subsidiary of SapuraCrest Petroleum Berh...

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 long-term rating of AA- on Scomi Group Bhd’s (“Scomi”) RM500.0 million Medium Term Notes Programme (“MTN”). The rating outlook is stable. The rating reflects the consolidated credit profile of Scomi, which is primarily driven by its oilfield services operations. The latter is core to Scomi’s debt servicing capacity, representing about 73....