Road Builder (M) Holdings Bhd’s (RBH) corporate credit rating of A+ has been reaffirmed based on RBH’s diversified earnings base, its established reputation as a successful and competitive contractor in the civil engineering and building segment, experienced management team and strong financial flexibility. The rating is, however, moderated by the Group’s exposure to the inhere...

Transshipment Megahub Berhad (TMB) is a wholly owned subsidiary of Kuala Dimensi Sdn Bhd (KDSB), with the principal activities of issuing RM1,095.0 million fixed-rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) and financing the development of Port Klang Free Zone/Transshipment Megahub amounting to RM1,220.0 million for KDSB. KDSB was appointed by Port Ke...

MARC has affirmed the rating of Special Port Vehicle Bhd’s (SPV) RM1,310.0 million nominal amount asset-backed serial bonds facility. The rating affirmation is premised on the superior credit rating of the Government of Malaysia (GOM) backing Port Klang Authority (PKA), the obligor under the transaction; minimal exposure to construction risk with 83.3% of the infrastructure works completed...

IJM Corporation Berhad’s (IJM) proposed RM300 million of Commercial Papers/ Medium Term Notes Programme (CP/MTN) has been assigned a long term rating of A+ and a short term rating of MARC-1. This reflects its consistently strong financial results, the ability to sustain its competitive position domestically and internationally and the diversity of its business. Moderating factors include t...

The reaffirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC 2ID reflect the strength of the issue structure, which includes the assignment of contract proceeds for the purpose of redemption of the MONI and BAIDS facilities; its relatively good business position and proven good track record which enables the compan...

Supporting the rating is the guaranteed minimum rental payments to be made by Universiti Industri Selangor (UNISEL). Moderating factors, on the other hand, include construction and completion risks of the university’s main campus, student and staff accommodation, and high initial debt leverage of the issuer.JNSB is a special purpose vehicle which was awarded a concession by UNISEL, a whol...

WCT Engineering Berhad’s (WCT) RM120.0 million 5% Redeemable Unsecured Bonds with detachable warrants (2000/2005) rating has been upgraded from A(s) to A+(s). The rating upgrade is due to the high cash coverage afforded to the outstanding bond brought about by the accumulation of funds in the sinking fund account. The rating also reflects WCT’s strengthening financial profile and st...

IJM Corporation Berhad’s (IJM) corporate debt rating has been upgraded from A to A+ reflecting its consistently strong financial results, the ability to sustain its competitive position domestically and internationally and the diversity of its business. The moderating factor includes the increasing competitiveness in the domestic construction environment compounded by the difficult buildi...

Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium Term Notes (“MTN”) issuance programme has been assigned an AAA rating by MARC. The rating signifies the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to repay the acknowledged sum on the stipulated date stated on the Facility Payment Ce...

Road Builder (M) Sdn Bhd’s rating has been affirmed 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). Moderat...