MARC has affirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA, respectively. The ratings carry a stable outlook. TMB, a financing vehicle wholly-owned by the turnkey developer of Port Klang Free Zone (PKFZ), Kuala Dimensi Sdn Bhd (KDSB), was...

MARC has affirmed the rating of MARC-2ID for Prinsiptek Corporation Berhad’s (Prinsiptek) Murabahah Commercial Paper ( MCP) Programme of up to RM30 million. The rating carries a negative outlook. The rating reflects the company's proven track record for the completion of construction contracts, its focus on government related projects which moderates and customer concentration risks. The rat...

MARC has affirmed its rating of MARC-1ID /A+ID on Nam Fatt Corporation Berhad’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium Term Notes Programme (ICP/IMTN). The affirmed ratings reflect the structural protections afforded to noteholders under the rated facility. Working capital availability is governed by prescribed advance rates for eligible contracts and cashflows from...

MARC has affirmed the ratings of MARC-1(bg)/AAA(bg) on Tranche A and MARC-1(bg)/AA+(bg) on Tranche B of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper / Medium Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN respectively. The ratings reflect the irrevocable guarantees provided by Maybank for Tranche A and UOBM for Tranche B respectively. Maybank’s financi...

MARC has assigned the rating of AA-IS to Matang Highway Sdn Bhd’s (Matang) RM70.0 million Sukuk Musharakah (the Sukuk). The outlook for the rating is stable.Matang is a wholly-owned subsidiary of Zecon Berhad (Zecon), established with a single purpose to undertake the issuance of the Sukuk. The proceeds from the Sukuk will be utilized to refinance Zecon’s existing debts and to finance ...

MARC has reaffirmed the AAA and MARC-1/AAA ratings of Valid Ventures Berhad’s (VVB) RM510.0 million fixed rate serial bonds (bonds) and up to RM85.0 million Commercial Paper/Medium Term Notes (CP/MTN) Programme, respectively. The rating reflects the Government of Malaysia’s (GOM) demonstrated willingness and capacity to support the deferred payment obligations of Port Klang Authority (...

MARC has assigned initial ratings of AA-IS for WCT Engineering Berhad’s (WCT) RM300 million Redeemable Sukuk with Warrants (Sukuk) and MARC-1ID/AA-ID for its RM300 million Islamic Commercial Paper / Medium Term Notes Programme (ICP/IMTN). The outlook for the ratings is stable. Proceeds from the proposed issuances will be used for capital expenditure requirements and working capital as well a...

MARC has reaffirmed the AAA rating of Gerbang Perdana CIQ Sdn Bhd’s (Gerbang Perdana CIQ) RM1.7 billion Seven Year Medium Term Notes (MTN) Programme. The rating carries a stable outlook. The rating reflects the credit quality of receivables from the Government of Malaysia (GOM) in respect of Facility Payment Certificates (FPCs) issued in connection with the construction of an Integrated Cust...

The long term rating of IJM Corporation Berhad’s (IJM) RM300.0 million Commercial Papers/Medium Term Notes Programme (CP/MTN) has been upgraded to AA- from A+ while its short term rating has been reaffirmed at MARC-1. The rating upgrade reflects the group’s strong operating financial performance, its enhanced financial profile following its merger with Road Builder (M) Holdings Bhd (RB...

MARC has reaffirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and AAA/MARC-1, respectively.  The ratings carry a stable outlook.TMB is a financing vehicle wholly owned by Kuala Dimensi Sdn Bhd (KDSB), incorporated solely for the purpose of issuing t...