MARC has upgraded the rating of Reliance Pacific Berhad’s (RPB or group) RM100 million Redeemable Secured Bonds (2001/2006) to A- (A minus). The upgrade is underpinned by the improvement in the travel and tourism industry and the group’s overall improved financial profile. The group returned to profitability after three consecutive years of losses whilst operating cash flow level ret...

The affirmation of WCT Land Berhad’s (WCTL) RM132 million Convertible Redeemable Debt Securities (CRDS) rating of A (A flat) reflects the Group’s reputable position as a property developer coupled with its strong financial performance and promising cashflow generating capabilites. The moderating factor continues to be the vulnerability of the projects to the adverse development in th...

The corporate credit rating of A+ assigned to Kemaman Bitumen Company Sdn Bhd (KBC) is underpinned by its position as the only dedicated bitumen manufacturer in Malaysia once operational; a ten-year off-take agreement with Tipco Asphalt Public Company Limited (TASCO); capable Engineering, Procurement and Construction (EPC) contractors to minimize construction risks; and the existence of a long-t...

The rating of TH Group Berhad (THG) is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction division. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domestic construction se...

MARC has upgraded the rating of Kelang Multi Terminal Sdn Bhd’s (KMT) RM350 million Floating Rate Notes to AA, reflecting the company’s consistently strong operational performance underlined by the steady growth in container throughput; commendable financial profile as well as the Government’s participation in developing Port Klang into a Transshipment and Megahub/Free Trade Zo...

The affirmation of EP Manufacturing Bhd’s (EPMB) long and short-term ratings of MARC-2ID/AID on its RM150.0 million Islamic MUNIF/IMTN reflect the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton, via its subsidiary; PEPS-JV (M) Sdn Bhd. Moderating factors include its dependence on the sales performance of national cars (i.e. Proton and Perodua) which contr...

The MARC-1 BG rating assigned to YPJ Oil Palm Estate Sdn Bhd’s (YPJOPE) proposed RM180 million Guaranteed Commercial Papers reflects the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Merchant Bank Berhad, Affin Bank Berhad and Bumiputra-Commerce Bank Berhad.Despite the inherent volatility in commodity price of crude palm oil (CP...

MARC has assigned ratings of A+ID and MARC-2ID/A+ ID to Konsortium Lapangan Terjaya Sdn Bhd’s (“KLT”) proposed issuance of RM380 million Bai Bithaman Ajil Medium Term Notes (“BBA MTN”) and up to RM80 million Murabahah commercial papers/medium term notes programme respectively (“MCP/MTN”) (“collectively known as Finance Facilities”). Proceeds ...

MARC has assigned a rating of A+ID/ Marc-2ID to Goodway Integrated Industries Berhad’s (Goodway) RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Programme, reflecting the Group’s position as a leader in the formulation and development of various rubber and technical compound products in Malaysia; wide network of clients in both the lo...

The ratings of A+ID and MARC-1ID/A+ID assigned to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Berhad) Istisna’ MTNs and Murabahah CP/MTN facilities reflect SapuraCrest Petroleum Berhad’s (SapuraCrest) competitive position as one of the largest Malaysian-owned integrated services provider for the oil and gas multinationals; expected improvement to its financial pr...