MARC has revised its outlook on MM Vitaoils Sdn Bhd’s (MMV) rating of its RM45.0 million Murabahah Commercial Paper Programme (MCP) to negative from stable.  Concurrently, MARC affirmed its MARC-2ID rating on the MCP.  The outlook revision reflects the slow build-up of liquidity ahead of significant sinking fund payments in 2011 as a result of its modest positive cashflow from oper...

MARC has affirmed its MARC-1ID /AID ratings of Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/ Medium Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect Tomei’s significant jewellery-chain operations in the local jewellery market, its integrated operations that have allowed the company to offer a wide product ...

MARC has affirmed the ratings of apparel manufacturer Hytex Integrated Berhad’s (Hytex) RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) at MARC-2ID /A-ID. Concurrently, MARC has revised the rating outlook to negative from developing.Hytex’s revised rating outlook reflects MARC’s view that while contract manufacturing orders ...

MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...

MARC has affirmed its MARC-1ID /AID ratings on jeweller Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/ Medium Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The ratings reflect the strength of Tomei’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by a contraction in consumer de...

MARC has reaffirmed the short term rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP) at MARC-2ID. The rating outlook is developing. The rating affirmation reflects the company’s average business risk profile as an edible palm oil products manufacturer, its good geographical diversification, improving cost structure and the anticipation of ...

MARC has removed the MARC-2ID /A-ID ratings of Hytex Integrated Berhad’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. ...

MARC has upgraded Degem Berhad’s (DeGem) short-term rating and affirmed the long-term rating for its RM50.0 million Murabahah Partially Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID /AID. The ratings carry a stable outlook. The upgrade of the short-term rating reflects increased consideration given to industry and company-specific liquidity charact...

MARC has reaffirmed the corporate debt rating of KFC Holdings (Malaysia) Bhd’s (KFCH) RM300 million Islamic Notes Issuance Facility (INIF) at A+ID with a positive outlook. The reaffirmation reflects the Group’s strong brand presence in the Quick Service Restaurant (QSR) industry; strong franchise and market dominance; improving financial performance recorded over the years; and stro...

MARC has assigned respective short- and long-term ratings of MARC-1ID and AID with stable outlook to Tomei Consolidated Berhad’s (TCB) RM 100.0 million Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Programme. The ratings reflect the Group’s well-established jewellery franchises, its competitive edge over non-integrated players as an integrated manufacturer and retailer of je...