MARC has affirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million bonds and up to RM360.0 million of CP/MTN facility at AAA and MARC-1/AAA respectively. The rating affirmation is premised on the satisfactory progress of development works of Port Klang Free Zone/Transshipment Megahub (PKFZ); the superior credit rating of the Government of Malaysia (GOM) backing Port K...

MARC has reaffirmed the rating of Road Builder (M) Sdn Bhd’s (RBM) RM400 million Repackaged Income Securities at A+(s). The rating reaffirmation is due to the high cash coverage afforded to the outstanding bond brought about by the accumulation of funds in the sinking fund account and a tight issue structure. RBM’s financial standing is affected by the backdrop of a challenging opera...

IJM Corporation Berhad’s (IJM) RM300 million of Commercial Papers/ Medium Term Notes Programme (CP/MTN) has been affirmed at MARC-1/ A+. This reflects IJM’s consistently strong financial results; the ability to sustain its competitive position domestically and internationally and the diversity of its business. The ratings are, nevertheless, moderated by the challenging operating envi...

MARC has assigned ratings of MARC-2ID/ A-ID to Prinsiptek Corporation Berhad’s (“Prinsiptek”) Murabahah Commercial Papers (“MCPs”) Programme and Murabahah Medium Term Notes (“MMTNs”) Programme. The ratings reflect Prinsiptek’s improved financial and capitalised position; its track record in the construction arena and its foray into property develop...

This proposed Murabahah Medium-term Notes (“MMTN”) programme represents a structural transaction involving the assignment of license/ rental payments due from the local telecommunication companies (“telcos”) to the Issuer, Instacom SPV Sdn Bhd (“Instacom SPV”); in respect of the erection of telecommunication towers (“towers”) and construction of re...

MARC has assigned long and short-term ratings of A+ID and MARC-1ID/A+ID to WCT Engineering Berhad’s (“WCT”) proposed Islamic Fixed Rate Serial Bonds of RM100 million and 7-year Islamic Commercial Papers/Medium Term Notes Programme of up to RM100 million (“Islamic CP/MTN”) (collectively known as Islamic Securities or IS). Concurrently, we have also reaffirmed WCT&rsq...

The ratings of MARC-1ID/A+ID for up to RM250 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) are predicated upon Nam Fatt Corporation Berhad’s (Nam Fatt) competitive position in the construction and engineering business with a sizeable outstanding order book; good operating track record; improving financial profile and a tight issue structure with pre-determined crite...

PECD Berhad’s (“PECD or the Group”) proposed Serial Fixed Rate Bonds Programme (“Serial Fixed Rate Bonds”) of RM200 million have been assigned a long-term rating of A. Proceeds from the issuance of the Serial Fixed Rate Bonds will be utilised towards the refinancing of the Group’s subsidiaries bank borrowings and for general working capital and investment requ...

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...

Road Builder (M) Sdn Bhd’s (RBM) rating has been reaffirmed at A+(s) reflecting its competitive position in the civil engineering and building segment, good track record, experienced management team and a tight issue structure. The rating also reflects the shareholder support of up to RM200 million on a reducing balance provided by the holding company, Road Builder (M) Holdings Bhd (RBH). ...