The ratings of MARC-2ID /AID with negative outlook assigned to EP Manufacturing Berhad’s (EPMB) proposed issuance of Murabahah Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) with nominal value of up to RM120.0 million, reflect the Group’s position as a Tier-1 parts vendor for the national carmaker, PROTON Holdings Berhad (PROTON) and Perusahaan Otomobil Kedua...

MARC has affirmed, with Stable Outlook, the AA- rating to Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes (Notes). The rating reflects the group’s good competitive position as the group has one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; its business presence in 35 countries following the acquisitio...

Under this transaction, a special purpose vehicle, Gandalf Capital Sdn. Bhd. (formerly known as Icon Lagoon Sdn. Bhd.) (Gandalf Capital) is incorporated to raise up to RM118.0 million of CPs/MTNs comprising of RM87.0 million Class A, RM16.0 million Class B and RM15.0 million Class C CPs/MTNs (Notes), which will be on-lent to its parent, Quill Capita Trust (QCT), a real estate investment trust (R...

MARC has reaffirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million bonds and up to RM360.0 million of CP/MTN facility at AAA and MARC-1/AAA respectively. The bonds and CP/MTN are secured by the assignment of rights, titles and benefits to the payment obligations of the Port Kelang Authority (PKA) pursuant to the development agreement and supplemental agreements betwe...

MARC has reaffirmed Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) Istisna’ Serial Bonds (Bonds) rating at AAA(s)ID (AAA Support, Islamic Debt). The rating reflects the AAA rating of the Sarawak State Government; since the source of funds to service the principal and profit for the Bonds will come directly from Sarawak State Government. The payments by SSHMC to th...

MARC has downgraded the long term ratings of Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million from AID to A-ID and affirmed the short term rating at Marc-2 with stable outlook. The revision of the long term rating to A-ID reflects the declining financial profile arising...

MARC has affirmed a rating of AA-IS to Vastalux Capital Sdn Bhd’s (VCSB) Islamic Securities under the principle of Musyarakah Mutanaqisah (Sukuk Musyarakah) of RM100.0 million with stable outlook. The rating assignment reflects the strong credit risk of the offtaker, PETRONAS Carigali Sdn Bhd (PCSB); protective issue structure which mitigates the risk of commingling of funds ( from two ma...

Rational Instacom SPV Sdn Bhd’s (Instacom SPV) RM200 million Murabahah Medium Term Notes’ (MMTN) rating has been affirmed at AA-ID with a stable outlook. The rating reflects the strength of the issue structure governing the programme which eliminates the risks from construction and its associated costs, ensures robust cash flows from strong off takers such as Maxis Telecommunications...

MARC has downgraded the ratings of DRB-HICOM Berhad’s (DRB-HICOM or the Group) RM50.0 million Underwritten Murabahah CP/MTN and RM120.0 million Murabahah CP/MTN facilities from AA-ID/MARC-1ID to A+ID /MARC-1ID ; and RM680.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from AA-ID to A+ID respectively with a stable outlook. The downgrades reflect the Group’s declini...

The ratings of Nam Fatt Corporation Bhd’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme have been affirmed at MARC-1ID /A+ID with a stable outlook, premised on the tight issue structure governing the facility, with strict guidelines for drawdown and restrictions on the type of contracts that the facility can be availed upon, including clearance from ...