MARC has affirmed the ratings of TH Group Berhad’s (THG) RM200 million Commercial Papers /Medium Term Notes (CP/MTN) Programme ratings at MARC-2/A. The affirmation reflects the steady operating performances of THG’s plantation and construction divisions as well as its fairly robust balance sheet. Moderating factors to THG’s rating include seasonal factors and/or cyclical developm...

MARC has reaffirmed the rating of TH Group Berhad’s (THG) RM150 million Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) at AID. The outstanding balance of the BAIDS is RM75 million which will mature in January 2007. The affirmation reflects the steady operating performances of THG’s plantation and construction divisions as well as its fairly robust balance sheet. Moderating factor...

MARC has reaffirmed the long-term and short-term issuer ratings of Cagamas Bhd (Cagamas) at AAA and MARC-1 respectively. The reaffirmation reflects the strong ability and flexibility of Cagamas to meet its financial commitments, supported by a favourable portfolio of loans and debts with full recourse to the selling institutions, its strong capitalization and capable management team. As the countr...

MARC has affirmed EP Manufacturing Berhad’s (EPMB) short and long term ratings of MARC-2ID /AID respectively on its RM150.0 million MUNIF/IMTN; reflecting the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton Holdings Berhad (Proton) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), via its subsidiary; PEPS-JV (M) Sdn Bhd (PEPS-JV). Moderating factors includ...

The ratings of AID/MARC-2ID and AID assigned to Kinsteel Berhad’s (Kinsteel) RM100 million Murabahah Commercial Papers/Medium Term Notes (Murabahah CP/MTN) and RM100 million Murabahah Medium Term Notes (MMTN) Programme respectively reflect the company’s proven track record in the local steel industry in terms of its profit record, distribution network, access to scrap supply and the...

MARC has affirmed the short term rating of Kumpulan Guthrie Berhad’s (Guthrie) RM150 million Underwrtitten Murabahah Commercial Papers at MARC-1ID, reflecting the Group’s position as the country’s leading plantation player cum property developer with vast land banks in Malaysia and Indonesia, its strong financial flexibility and the anticipation of improved cash flow from its p...

MARC has reaffirmed the rating for Mithril Berhad’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) at BBB and has lifted its MARCWatch with a Negative Outlook. The reaffirmation reflects the better results from its manufacturing division led by the company’s architectural mouldings manufacturing arm coupled with stable rental income from its investment prop...

Pembangunan Leasing Corporation Sdn Bhd’s (PLC) Guaranteed Notes Issuance Programme (GNIP) rating is upgraded from MARC-1(bg)/A(bg) to MARC-1(bg)/A+(bg) to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad or BPMB (formerly known as Bank Pembangunan & Infrastruktur Malaysia Berhad). BPMB’s A+ rating from MARC reflects...

Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium Term Notes (“MTN”) issuance programme rating has been affirmed at AAA by MARC. The rating signifies the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to repay the acknowledged sum on the stipulated date stated on Facility Payment Certif...

The ratings of Atlan Holdings Bhd’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities have been reaffirmed at MARC-2ID/AID and AID respectively. The reaffirmation of the ratings reflects Atlan’s focus and strength in its respective core bus...