MARC has affirmed the ratings of A+ ID and MARC-1 ID /A+ ID (with Stable Outlook) assigned to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Bhd) RM500 million Istisna’ Serial Bonds (“Istisna’ Bonds”) and RM100 million Murabahah Commercial Papers/ Medium Term Notes (“MCP/MMTNs”) facilities, reflecting: the bright outlook of the oil and gas (...

The rating of Reliance Pacific Berhad’s (“RPB” or “the Group”) RM100 million Redeemable Secured Bonds (2001/2006) has been reaffirmed at A- (A minus). Underpinning the rating is the expected sustained growth in the travel and tourism industry and the group’s overall improved financial profile. The rating, however, is moderated by RPB’s somewhat high debt l...

MARC has reaffirmed the ratings of Sime Darby’s RM1,500 million Al-Murabahah Commercial Papers/ Medium Term Notes (MCP/MMTN) Programme at MARC-1ID/AAAID respectively. The ratings reflect the diversity of the Group’s operations in more than 20 countries; its sound financial profile characterised by solid capitalization and resilient profitability levels; exceptional financial flexibil...

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...

The rating of A+ assigned to Petra Perdana Berhad’s (Petra) proposed issuance of up to RM800 million Dual Currency Revolving Financing Facility reflects the Group’s competitive position as an integrated service provider for the oil and gas multinationals; and expected improvement to its financial profile following its venture into the provision of offshore marine support services for...

The proposed issuance of RM100 million Islamic Medium Term Notes facility and up to RM50 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes Facility (“Finance Facilities”) has been assigned a long term rating of AID and a short and long term rating of MARC-2ID and AID respectively. The ratings of Medi Innovation Sdn Bhd’s (“MISB”) prop...

The short and long term ratings of MARC-1ID and AAAID (Islamic Debt) assigned to MISC Berhad’s (“MISC”) Murabahah Commercial Paper/Medium Term Notes (“MCP/MTN”) are underpinned by the Group’s solid operating fundamentals; its dominant position in the Malaysian shipping industry particularly the liquefied natural gas (“LNG”) segment; extensive globa...

The affirmed ratings of A+(bg)ID/ MARC-1(bg)ID for Mulpha International Bhd’s (MIB) RM75.0 million Bank Guaranteed Murabahah Notes Issuance Facility (MUNIF) reflect the unconditional and irrevocable bank guarantees provided by AmMerchant Bank Berhad and Southern Bank Berhad; whilst the affirmed ratings of AID/MARC-2ID for MIB’s RM25.0 million Murabahah Commercial Paper/ Medium Term N...

Oilcorp Berhad’s (Oilcorp) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) has been affirmed at MARC-2ID/AID, reflecting Oilcorp’s position as an integrated, multidiscipline engineering, procurement and construction (EPC) services provider in various oil and gas, petrochemical, power generation, semiconductor and other relat...

MARC has downgraded Malaysian Merchant Marine Bhd’s (MMM) RM120.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BaIDS) rating from AAID to AA–ID; reflecting its weakened operating cash flow protection measures due to the combined effects of significantly lower operating cash flows and higher operating cost. Future operating cash flow required to meet its operating expenses may fu...