MARC has upgraded Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) programme rating to AAID from AA-ID. ISPV is a special purpose company incorporated to facilitate the issuance of the MMTN to finance the purchase of completed telecommunication towers and infrastructure from its holding company, Instacom Engineering Sdn Bhd (IESB), a sub-contractor of telecommun...

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 negative outlook for the rating is maintained.  The affirmed rating reflects recent progress albeit slow, made in collecting its past due receivables, meaningful reduction in its debt burden and an order book position which provi...

MARC has assigned ratings of MARC-1/AA- to IJM Corporation Berhad’s (IJM) proposed RM1,000 million Commercial Papers/Medium Term Notes Programme. Concurrently, MARC has affirmed IJM’s MARC-1/AA- ratings on its RM300 million Commercial Papers/Medium Term Notes Programme. The ratings reflect the Group’s strong market positions in construction and property development and its divers...

MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) RM300 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings are premised on the group’s below-average business risk profile which is underpinned by strong market positions in construction and property development and its fairly diversified operations across industry segments and key markets...

MARC has affirmed its AA-IS, MARC-1ID / AA-ID, AA-ID and MARC-1ID / AA-ID ratings on WCT’s RM300 million Redeemable Sukuk with Warrants, RM300 million Islamic Commercial Papers / Medium Term Notes, RM100 million Islamic Fixed Rate Serial Bonds and RM100 million Islamic Commercial Papers / Medium Term Notes Programmes respectively. At the same time, all ratings were removed from MARCWatch, wh...

MARC has assigned the rating of A+ID to Makro Utama Sdn Bhd’s (Makro) up to RM100.0 million Al-Istisna’ Bonds (Bonds). Makro is a special purpose vehicle wholly owned by construction and engineering company Redmax Sdn Bhd (Redmax) and incorporated to facilitate the issuance of the Bonds. The Bonds proceeds will be used to repay Redmax’s existing debts, part of which was incurred ...

MARC has affirmed the AAA rating of Gerbang Perdana CIQ Sdn Bhd’s (Gerbang Perdana CIQ) RM1.7 billion Seven Year Medium Term Notes (MTN) Programme. Gerbang Perdana CIQ, a special-purpose vehicle wholly-owned by Gerbang Perdana Sdn Bhd (GPSB), was incorporated to raise financing for its parent company in respect of a project to construct an Integrated Customs, Immigration and Quarantine Compl...

MARC has affirmed the rating of AA-ID on Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) programme. The rating carries a stable outlook. ISPV is a special purpose company owned by Instacom Engineering Sdn Bhd (IESB), and incorporated to facilitate the issuance of the Sukuk for the sale and purchase of completed telecommunication towers and infrastructure. Retur...

MARC has affirmed the rating of Free Zone Capital Berhad’s (FZCB) RM410.0 million fixed rate serial bonds and up to RM70.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA, respectively. The ratings carry a stable outlook. Wholly-owned by Kuala Dimensi Sdn Bhd (KDSB), FZCB was incorporated solely for the purpose of issuing the fixed rate serial bonds and C...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The rating carries a stable outlook. SPVB is a special purpose entity established with the sole purpose of issuing the asset-backed serial bonds, the proceeds of which were used to acquire future receivables amounting to RM1,699.63 million (includin...