MARC has affirmed Boon Koon Group Berhad’s (BKGB) RM100 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) ratings at MARC-3ID/BBB-ID and concurrently revised the outlook to stable from negative. The affirmed ratings reflect BKGB’s improving business risk profile stemming from recent regulatory developments in the rebuilt commercial vehicle industry, as well as busi...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg), respectively. The outlook on the ratings is stable. ALB is a bankruptcy remote special purpose vehicle incorporated to facilitate the issuance of the Sukuk and the sale and leaseback of industri...

MARC has affirmed its ratings on Goodway Integrated Industries Bhd’s (Goodway) RM80.0 million Murabahah Notes Issuance Facility/Islamic Medium Term  Notes (MUNIF/IMTN) at MARC-2ID/AID. The rating outlook has been revised to stable from negative. The outlook revision takes into consideration the group’s demonstrated efforts to reduce its gearing levels to below the covenanted level...

MARC has assigned ratings of MARC-1ID and AA-ID on KNM Group Berhad’s (KNM) up to RM400 million Islamic Commercial Paper Programme (ICP Programme) and up to RM1.1 billion Islamic Medium Term Note Programme (IMTN Programme) respectively. The outlook on the long-term rating is stable. KNM’s ratings reflect the group’s strong market position, well-diversified product offerings and g...

MARC has affirmed the ratings of geosynthetic manufacturer Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) at MARC-2ID / AID. The rating outlook is revised to stable from developing. Since MARC’s review at end-August 2009, the rating agency’s concerns over the executi...

MARC has downgraded its rating on Mithril Bhd’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stock (RCSLS) to B from B+. Its rating outlook is maintained at negative. The rating action reflects Mithril’s continuing losses as a result of worsening prospects of its mainstay polyurethane (PU) architectural mouldings business and its impaired balance sheet following certain i...

MARC has affirmed its ratings on KNM Capital Sdn Bhd’s (KNMCap) RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID/AA-ID. The outlook on the ratings is stable. KNMCap is a wholly-owned subsidiary and the funding conduit for KNM Group Berhad (KNM). The ratings reflect the group’s strong market position, well-diversified p...

MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating outlook is revised to positive from stable. The affirmed rating and outlook revision incorporates Antara’s overall operating profile and recent financial performance which have supported improvements in its liquidity and debt se...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising  RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS , AAIS and AAAIS(bg), respectively. The outlook on the ratings is stable. The affirmed ratings of Class A and Class B Sukuk reflect the maintenance of adequate credit enhancements that are consistent with the ...

MARC has revised its ratings on OPTIMAL Glycols (Malaysia) Sdn Bhd’s (Glycols) and OPTIMAL Chemicals (Malaysia) Sdn Bhd’s (Chemicals) (jointly known as Glycols & Chemicals) RM453.0 million and RM567.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) respectively to AAAID from AA+ID(s) and at the same time removed the ratings from MARCWatch Positive where they were first...