Reliance Pacific Berhad’s (RPB) rating downgrade is based upon the continued weakness of the group’s financial profitability and cash flow position, reflecting the adverse effects of SARS and terrorism on the tourist industry; the general softening in international tourist arrivals; and stiff price competition amongst industry participants. Generating sales and maintaining hotel rev...

Cagamas’ ratings reflect the strong ability and flexibility of the Company to meet its financial commitments, the favorable portfolio of loans and debts with full recourse to the selling institutions, strong capitalization and a proactive and innovative management team. As the country’s National Mortgage Corporation, the Company’s strategic role in the development of the second...

The ratings assigned are based on Evermaster Group Berhad (EGB)’s expanding activities into government-related construction works, its high operational integration with regard to the wood-based activities and going forward, its focus on downstream higher value-added products.   Other positive factors include the company’s long operating track record and financial performance,...

The affirmation of PETRONAS Fertilizer (Kedah) Sdn Bhd’s (PFK) BaIDS rating reflects the strength of the support provided by its holding company, Petroliam Nasional Berhad (PETRONAS) in ensuring timely and full redemption of the BaIDS, either through equity, loan facilities, grants or other means. PFK, a wholly-owned subsidiary of PETRONAS, benefits from PETRONAS’ expertise and exp...

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The rating for Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) Al Bai Bithaman Ajil Facility (ABBA) has been downgraded to A –ID. The issuer’s stand alone debt rating is, in the meantime, equivalent to the lowest rating of the banks in the consortium of guarantors (weak-link approach). As the bank guaranteed (bg) rating does not enhance or give a favourable effect to the iss...

Cagamas’ ratings reflect the strong ability and flexibility of the Company to meet its financial commitments, the favorable portfolio of loans and debts with full recourse to the financial institutions, strong capitalization and a proactive and innovative management team. As the country’s national mortgage corporation, the Company’s strategic role in the development of the seco...

The rating affirmation of Maxisegar Sdn Bhd‘s (Maxisegar) RM300 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) is supported by the strength of the underlying issue structure, in which, secured sales from specific property development projects have been earmarked for the redemption of the BaIDS issue. Positive features of the issue structure include security coverage of 1.28 tim...

Cagamas’ ratings reflect its exceptionally strong ability to meet existing financial commitments and distinctly superior quality of its portfolio of loans and debts purchased on full recourse to the primary lenders. The Company’s strategic role in the development of the secondary bond market and provision of liquidity in the financial system coupled with its good earnings capacity, ...

The rating of Maxisegar’s BaIDS reflects a tight underlying issue structure, where the progress billings from secured sales of specific property development projects have been earmarked for the redemption of the BaIDS issue.  Positive features of the issue structure include a security coverage of 1.43 times of the amount of BaIDS outstanding, the maintenance of minimum balances in a Sin...