MARC has affirmed its MARC-1ID short-term and AID long-term ratings on Delloyd Ventures Berhad’s (‘Delloyd’) RM100 million Islamic Commercial Papers / Medium Term Notes (CP/MTN) Programme. Concurrently, the rating outlook has been revised to stable from developing. The outlook revision incorporates reduced execution risk in its plantation operation in Indonesia following a succes...

MARC has affirmed the ratings of Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) at AID / MARC-2ID. The outlook is stable. The ratings reflect EKIB’s leadership in the domestic geosynthetic market, improved financial performance as well as enhanced operational efficiency ...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) RM100 million nominal value of Class A, RM20 million nominal value of Class B and RM40 million nominal value of Class C Senior Sukuk Ijarah at AAAIS , AAIS and AAAIS(bg), respectively. The ratings of Class A and B Senior Sukuk Ijarah reflect the quality and diversity of the collateral properties, liquidity support provided by a no...

MARC has downgraded the rating of Mithril Bhd’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) from BBB- to BB on account of the company’s continuing dismal financial performance, its failure to recommence its brick-manufacturing operation after a fire incident, and its tight working capital position which severely constrained its yacht fabrication operation ...

MARC has lowered its rating on Ingress Sukuk Berhad’s RM160 million Sukuk Al Ijarah Issuance to AIS from A+IS, and removed it from MARCWatch Developing. The outlook for the rating is stable. The downgraded rating reflects Ingress Corporation Berhad’s (“Ingress” or “the Group”) deteriorating profitability and the breach of its debt-to-equity covenant, resulting f...

MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) Islamic debt at AID  and revised the outlook to positive from stable. The rating affirmation reflects the strong recovery of Antara’s HBI operations in Labuan following a setback from a prolonged unplanned plant shutdown in 2006. The positive outlook incorporates MARC’s anticipation of further improvements...

MARC has upgraded KNM Capital Sdn Bhd’s (KNMC) long-term rating from A+ID  to AA-ID, and reaffirmed its short-term rating at MARC-1 with respect to KNMC’s RM300.0 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN). The rating carries a stable outlook.  KNMC is a wholly-owned subsidiary of KNM Group Berhad (KNM) and serves as the Gr...

MARC has reaffirmed its MARC-2ID/AID ratings on Premium Nutrients Berhad’s (“PNB”) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The ratings reflect PNB’s good business position as a specialty and non-specialty fats manufacturer with a broad product range and geographically diversified...

MARC has reaffirmed the MARC-2ID /AID short-term and long-term ratings respectively of second-tier automation and material handling solution provider, Malaysian AE Models Holdings Berhad’s (MAE) RM200 Million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) programme. The ratings carry a developing outlook. The reaffirmed ratings reflect MAE’s strong operating performance,...

MARC has reaffirmed its MARC-2/AID rating for Maxtral Industry Berhad’s (Maxtral or the Group) RM80-million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20-million Murabahah Underwritten Notes/Murabahah Medium Term Notes (MUNIF/MMTN) facilities. The rating carries a stable outlook. The affirmation reflects Maxtral’s satisfactory operating performance, moderate debt levera...