The rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) has been upgraded to AAID. The enhancement in the rating is a reflection of the continuous traffic growth at the KL–Karak Highway (KLK) and the strength of the company’s financial profile underpinned by the strong revenue and pre-tax profit growth which are expected to be further ...

Evermaster Group Berhad’s (EGB) long term rating has been downgraded to A-ID, with its short term rating affirmed at MARC-2ID. This is premised on the Group’s continued deteriorating profitability over the last two financial years as a result of escalating cost of sales due to the rising costs of diesel and obtaining supply of timber logs. This was aggravated by the bad debts written...

The reaffirmation of the ratings reflects the credit strength of PETRONAS, the principal tenant of the PETRONAS Twin Towers (Tower 1 and Tower 2), which bears the rental payments for both towers. The rental stream forms the primary source of repayment of the debt securities. PETRONAS’ superior credit strength is drawn from its strong financial position, favourable production profile, sign...

The ratings assigned to RCE Advance Sdn Bhd’s (RCEA) (formerly known as Perfect Aspirations Sdn Bhd) proposed RM420.0 million Fixed Rate Medium Term Notes programme (referred to as the Facility) is a reflection of the three month collateral ratio to be maintained at all times whereby the uncollected value of the receivables purchased by RCEA shall be at1.66 times ofthe principal outstandi...

The rating affirmation of Ingress Sukuk Berhad’s (ISB) RM160 million Sukuk Al Ijarah Issuance at A+ID is underpinned by Ingress Corporation Berhad’s (Ingress) track record as one of the leading local automotive component manufacturers with a diversified customer base and geographical distribution; and its fairly strong financial profile. Moderating factors, however, include the vuln...

MARC has affirmed Boustead Plantations Berhad’s (formerly known as Kuala Sidim Berhad) long term ratings under Tranche 1 and 2 at A+(BG) and A- respectively. Meanwhile the short term ratings of Tranche 1 and 2 are reaffirmed at MARC-1(BG) and MARC-2 respectively. The reaffirmation of the Tranche 1 rating reflects the unconditional and irrevocable guarantee by Southern Bank Berhad (SBB), wh...

MARC has assigned a rating of AA-IS to Vastalux Capital Sdn Bhd’s (VCSB) Islamic Securities under the principle of Musyarakah Mutanaqisah (Sukuk Musyarakah) of RM100.0 million. The rating assignment reflects the strong credit risk of the offtaker, PETRONAS Carigali Sdn Bhd (PCSB); protective issue structure which mitigates the risk of commingling of funds from two main contracts with PCSB...

MARC has affirmed Bumiputra-Commerce Bank Berhad’s (BCB or the bank) Financial Institution ratings at AA-/MARC-1 and its detachable coupons of RM667.0 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A+. The ratings reflect the bank’s efforts at improving asset quality, its stable liquidity position and wide funding base.Deemed the second largest...

MARC has assigned ratings of AAA to CapOne Berhad’s (CapOne) RM600.0 million Super Senior Class A-1 and RM250.0 million Senior Class A-2 secured fixed-rate asset-backed bonds; AA to RM50.0 million Mezzanine Class B secured fixed-rate asset-backed bonds; and BB to RM100.0 million subordinated secured variable-rate asset-backed bonds respectively. The ratings are based on the total credit en...

MARC has assigned short and long term ratings of MARC-2ID/AID to Malaysian AE Models Holdings Berhad’s (“MAE”) proposed issuance of RM200 Million Islamic Commercial Paper/Islamic Medium Term Notes Programme. The ratings reflect MAE’s competitive position as a one-stop logistic solutions provider; its technical competency in the industry; stable order book and fairly stron...