MARC has affirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM45.0 million Murabahah Commercial Paper (MCP) Programme and maintained a negative outlook on the rating. The negative outlook reflects continued concerns over insufficient operating cash flows to support the build-up of MMV’s sinking fund from August 2011 onwards to meet its first CP redemption of RM20.25 million du...

MARC has revised its outlook on MM Vitaoils Sdn Bhd’s (MMV) rating of its RM45.0 million Murabahah Commercial Paper Programme (MCP) to negative from stable.  Concurrently, MARC affirmed its MARC-2ID rating on the MCP.  The outlook revision reflects the slow build-up of liquidity ahead of significant sinking fund payments in 2011 as a result of its modest positive cashflow from oper...

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 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 affirmed the rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 Million Murabahah Commercial Papers (MCP) Programme at MARC-2ID with developing outlook. The affirmation reflects MMV’s anticipated improving financials arising from a more focused business strategy supported by Malaysian Palm Oil Board’s (MPOB) expertise in downstream palm oil research and development (R&D) a...

The MARC-2ID rating on the RM70.0 Million Murabahah Commercial Papers (MCP) Programme is underpinned by MM Vitaoils Sdn Bhd’s (MMV) proven business model which is primarily supported by the research and development (R&D) activities carried out by the Malaysian Palm Oil Board (MPOB). Moderating factors to the rating include MMV’s limited track record; working capital constraints t...