The ratings of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN have been affirmed at A(bg) / MARC-1(bg) with stable outlook. The reaffirmation reflects the weakest link rating of the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. The bank guarantors consist of Aseambankers, Malayan Banking Berhad, CIMB Bank Berhad and E...

MARC has downgraded the long-term rating of DeGem Berhad’s (DeGem) RM50.0 million MUNIF/IMTN from A+ID to AID with a stable outlook and re-affirmed its short-term rating at MARC-2ID. The downgrade reflects the group’s potential decline in competitive position and loss of future earnings subsequent to the disposal of its gold business to PYT Gem Trade Sdn Bhd which leads to an eventua...

MARC has downgraded the long term ratings of Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million from AID to A-ID and affirmed the short term rating at Marc-2 with stable outlook. The revision of the long term rating to A-ID reflects the declining financial profile arising...

MARC has affirmed the rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 Million Murabahah Commercial Papers (MCP) Programme at MARC-2ID with developing outlook. The affirmation reflects MMV’s anticipated improving financials arising from a more focused business strategy supported by Malaysian Palm Oil Board’s (MPOB) expertise in downstream palm oil research and development (R&D) a...

The MARC-2ID rating on the RM70.0 Million Murabahah Commercial Papers (MCP) Programme is underpinned by MM Vitaoils Sdn Bhd’s (MMV) proven business model which is primarily supported by the research and development (R&D) activities carried out by the Malaysian Palm Oil Board (MPOB). Moderating factors to the rating include MMV’s limited track record; working capital constraints t...

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

DeGem Berhad’s (DeGem) RM50.0 million MUNIF/IMTN programme has been reaffirmed at MARC-2ID/A+ID reflecting the Group’s proven track record as one of the leading jewellers in Malaysia. The ratings are also supported by DeGem’s better than average financial profile characterised by its low debt leverage and favourable liquidity profile. Moderating rating factors include the inher...

MARC has assigned short and long term ratings of MARC-2ID and AID respectively to Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million. The ratings reflect the group’s profile as an integrated garment manufacturer; long established relationship with Nike; and superior...

MARC has reaffirmed the corporate debt rating of KFC Holdings (Malaysia) Berhad’s (KFCH) RM300 million Islamic Notes Issuance Facility (INIF) at A+ID and at the same time, has placed the rating on positive outlook, in anticipation of an additional RM90 million cash proceeds from the proposed sale and lease back of Wisma KFC. The rating reaffirmation reflects the Group’s strong brand ...

The rating of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN has been upgraded to A(bg)/ MARC-1(bg). This reflects the weakest link rating within the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. The bank guarantors consist of Aseambankers, Malayan Banking Berhad, Bumiputra Commerce Bank Berhad and EON Bank Berhad. C...