Under this Ijarah sale and lease back transaction, Ample Zone Berhad (AZB), a special purpose vehicle with certain bankruptcy remoteness features, incorporated solely to undertake this securitisation exercise, will acquire four buildings (Assets) from three subsidiaries of Talam Corporation Berhad (TCB) and one private company (Sellers). AZB will lease the Assets back to the Sellers under Ijarah...

The ratings of MARC-2/A- assigned to Equine Capital Berhad’s (ECB or Issuer) Commercial Papers /Medium Term Notes Programme of up to RM95 million (CP/MTN Programme) reflect the ECB group’s strong competitive position through its flagship developments in Seri Kembangan and its credible track record of timely completion of quality projects. Mitigating the ratings is the inherent cycli...

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MARC has withdrawn the ratings of the bank-guaranteed tranches (Tranche I, II, III and IV) as the bondholders were fully repaid by the bank guarantors on 9 December 2004 following a call for default by the bondholders on 30 November 2004. The bondholders called for a default as Perak-Hanjoong Simen Sdn Bhd (PHS) missed the payment of the profit and repayment of the principal on 17 November 2004....

The short and long term ratings of Ranhill Berhad’s (Ranhill) Murabahah Commercial Papers (MCP)/Murabahah Medium Term Notes (MMTN) Programme have been upgraded to MARC-1ID and A+ID respectively. The upgrade is underpinned by the Group’s diversification into the power and water sectors which provide a stable income stream to mitigate the cyclical nature of the construction industry an...

MARC affirms the rating of AID (A flat, Islamic Debt) assigned to Maxisegar Sdn Bhd (MSB)’s RM250.0 million Al Bai Bithaman Ajil Islamic Debt Securities on the back of its strong competitive position and good location of its property development; tempered by any adverse development in the property markets. MSB, a wholly owned subsidiary of Talam Corporation Berhad (TCB), one of the largest...

Malaysian AE Models Holdings Berhad (MAE)’s Fixed Rate Serial Bonds rating has been affirmed at A-. The affirmation is a testament of the company’s competitive position in the industry underlined by its place as the country’s leading manufacturer and distributor of factory automation and material handling systems and the strategic decision by MAE to broaden its revenue base by ...

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MARC has reaffirmed the rating of Europlus Corporation Sdn Bhd’s (ECSB) RM350.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF) at MARC-3ID. The reaffirmation reflects the substantial locked-in sales from developments secured under the MUNIF which essentially acts to mitigate market risk, normalization of construction works in the last nine months and ECSB’s timeliness...

MARC has affirmed Land & General Berhad’s (L&G) Redeemable Convertible Secured Loan Stocks (RCSLS) of up to RM320,962,637 rating at B- (B minus). The rating reflects the secured nature of the RCSLS against several identified securities under the issue structure. However, the supporting factor is mitigated by the Group’s weak competitive position following the on-going corpora...