MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...

MARC has affirmed its MARC-1ID /AID ratings on jeweller Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/ Medium Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The ratings reflect the strength of Tomei’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by a contraction in consumer de...

MARC has reaffirmed the short term rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP) at MARC-2ID. The rating outlook is developing. The rating affirmation reflects the company’s average business risk profile as an edible palm oil products manufacturer, its good geographical diversification, improving cost structure and the anticipation of ...

MARC has removed the MARC-2ID /A-ID ratings of Hytex Integrated Berhad’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. ...

MARC has upgraded Degem Berhad’s (DeGem) short-term rating and affirmed the long-term rating for its RM50.0 million Murabahah Partially Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID /AID. The ratings carry a stable outlook. The upgrade of the short-term rating reflects increased consideration given to industry and company-specific liquidity charact...

MARC has reaffirmed the corporate debt rating of KFC Holdings (Malaysia) Bhd’s (KFCH) RM300 million Islamic Notes Issuance Facility (INIF) at A+ID with a positive outlook. The reaffirmation reflects the Group’s strong brand presence in the Quick Service Restaurant (QSR) industry; strong franchise and market dominance; improving financial performance recorded over the years; and stro...

MARC has assigned respective short- and long-term ratings of MARC-1ID and AID with stable outlook to Tomei Consolidated Berhad’s (TCB) RM 100.0 million Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Programme. The ratings reflect the Group’s well-established jewellery franchises, its competitive edge over non-integrated players as an integrated manufacturer and retailer of je...

The ratings of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN have been affirmed at A(bg) / MARC-1(bg) with stable outlook. The reaffirmation reflects the weakest link rating of the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. The bank guarantors consist of Aseambankers, Malayan Banking Berhad, CIMB Bank Berhad and E...

MARC has downgraded the long-term rating of DeGem Berhad’s (DeGem) RM50.0 million MUNIF/IMTN from A+ID to AID with a stable outlook and re-affirmed its short-term rating at MARC-2ID. The downgrade reflects the group’s potential decline in competitive position and loss of future earnings subsequent to the disposal of its gold business to PYT Gem Trade Sdn Bhd which leads to an eventua...

MARC has downgraded the long term ratings of Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (“MUNIF/IMTN”) of up to RM100.0 million from AID to A-ID and affirmed the short term rating at Marc-2 with stable outlook. The revision of the long term rating to A-ID reflects the declining financial profile arising...