IJM Corporation Berhad’s (IJM) RM300 million of Commercial Papers/ Medium Term Notes Programme (CP/MTN) has been affirmed at MARC-1/ A+. This reflects IJM’s consistently strong financial results; the ability to sustain its competitive position domestically and internationally and the diversity of its business. The ratings are, nevertheless, moderated by the challenging operating envi...

AmMerchant Bank Berhad’s (AmMerchant) financial institution ratings has been affirmed at A+/MARC-1 premised on the Bank’s consistent strong market position in fee-based activities; improvement in the Bank’s asset quality, funding profile and capitalization. Furthermore, the successful listing of the investment banking arm on Bursa Malaysia is expected to increase the profile of...

MARC has reaffirmed the long term rating of PETRONAS Fertilizer (Kedah) Sdn Bhd’s (PFK) RM750.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) at AAAID(s). The reaffirmation of the long term rating is premised on the strength of the support provided by the holding company, Petroliam Nasional Berhad (PETRONAS) in ensuring timely and full redemption of the BaIDS, either through...

The reaffirmation of Negeri Sembilan Industries Sdn Bhd’s (NSCI) BaIDS rating at A+ID(bg) reflects the bank guarantees provided by AmMerchant Bank and Bumiputra-Commerce Bank; whilst the reaffirmation of the ratings MARC-2 ID /A-ID accorded for NSCI’s MUNIF reflects the improvement in the company’s financial profile and its position as one of the larger integrated cement produc...

MARC has assigned ratings of MARC-2ID/ A-ID to Prinsiptek Corporation Berhad’s (“Prinsiptek”) Murabahah Commercial Papers (“MCPs”) Programme and Murabahah Medium Term Notes (“MMTNs”) Programme. The ratings reflect Prinsiptek’s improved financial and capitalised position; its track record in the construction arena and its foray into property develop...

The reaffirmation of the ratings reflects the credit strength of Petroliam Nasional Berhad (PETRONAS); the user of specific assets belonging to Petronas Assets Sdn Bhd (PAssets) and the obligor of the Promissory Notes (PNs) and Asset Utilisation Fee (AUF). Payments arising from the PNs and AUF form the primary source of repayment of the Bai Al-Dayn Notes Issuance Facility (NIF) and Al-Murabahah ...

The rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) has been upgraded to AAID. The enhancement in the rating is a reflection of the continuous traffic growth at the KL–Karak Highway (KLK) and the strength of the company’s financial profile underpinned by the strong revenue and pre-tax profit growth which are expected to be further ...

Evermaster Group Berhad’s (EGB) long term rating has been downgraded to A-ID, with its short term rating affirmed at MARC-2ID. This is premised on the Group’s continued deteriorating profitability over the last two financial years as a result of escalating cost of sales due to the rising costs of diesel and obtaining supply of timber logs. This was aggravated by the bad debts written...

The reaffirmation of the ratings reflects the credit strength of PETRONAS, the principal tenant of the PETRONAS Twin Towers (Tower 1 and Tower 2), which bears the rental payments for both towers. The rental stream forms the primary source of repayment of the debt securities. PETRONAS’ superior credit strength is drawn from its strong financial position, favourable production profile, sign...

The ratings assigned to RCE Advance Sdn Bhd’s (RCEA) (formerly known as Perfect Aspirations Sdn Bhd) proposed RM420.0 million Fixed Rate Medium Term Notes programme (referred to as the Facility) is a reflection of the three month collateral ratio to be maintained at all times whereby the uncollected value of the receivables purchased by RCEA shall be at1.66 times ofthe principal outstandi...