The reaffirmation of AAAID to Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) debt issuance and AAAID(s) to Optimal Glycols (Malaysia) Sdn Bhd (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) (both Glycols and Chemicals referred to as ‘G&C’) debt issuances respectively continues to reflect the Optimal Group of c...

MARC has assigned respective short- and long- term ratings of MARC-2 and A with a developing outlook to Axis Incorporation Berhad’s (“Axis”) proposed RM100.0 million Commercial Papers/Medium Term Notes (“CP/MTN”) Programme. The ratings reflect the group’s competitive position as an international OEM (“original equipment manufacturing”) player in th...

The reaffirmed ratings of Premium Nutrients Berhad’s (PNB) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID /AID with a stable outlook, mainly reflects PNB Group’s competitive position as an integrated producer of speciality fats, its business strategy focusing on niche markets but with a well diversified customer base, an...

MARC has reaffirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (BBAT) at BBB+ID(s) with stable outlook, reflecting the company’s dominant position as the sole newsprint producer in Malaysia; improvement in its financial performance during the fiscal year under review; the protectio...

MARC has downgraded the rating of Stenta Films (Malaysia) Sdn Bhd’s (Stenta) RM90 million Murabahah Notes Issuance Facility (MUNIF) from MARC-3ID to MARC-44 ID IDwith negative outlook following representations from the company that it intends to refinance the facility. At the same time, MARC has placed .tThe ratings of the MUNIFalso remains on MARCWatch, with a negative outlookimplications...

The ratings of MARC-2ID /AID with negative outlook assigned to EP Manufacturing Berhad’s (EPMB) proposed issuance of Murabahah Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) with nominal value of up to RM120.0 million, reflect the Group’s position as a Tier-1 parts vendor for the national carmaker, PROTON Holdings Berhad (PROTON) and Perusahaan Otomobil Kedua...

MARC has affirmed the short and long term ratings of MARC-2ID /AID respectively of second-tier materials handling and factory automated solutions provider, Malaysian AE Models Holdings Berhad’s (“MAE”) RM200 Million Islamic Commercial Paper/Islamic Medium Term Notes Programme. The ratings carry a stable outlook. The ratings reaffirmation reflects MAE’s improved geographi...

The rating of Petronas Fertilizer (Kedah) Sdn Bhd’s (PFK) RM750 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) has been reaffirmed at AAAID(s) with a stable outlook. The rating reflects the support rendered by its holding company, Petroliam Nasional Berhad (PETRONAS) in ensuring PFK’s ability to meet its BaIDS obligation at all times. On a stand alone basis, PFK has per...

RationaleMARC has upgraded the long-term ratings of Paradym Resources Industries Sdn Bhd (PRI) to AID (A Flat, Islamic Debt) from A-ID and has affirmed the short term ratings at MARC-2ID for PRI’s Islamic Commercial Paper/Medium Term Note Issuance Programme (Islamic CP/MTN). The outlook is stable. The ratings upgrade and reaffirmation reflects PRI’s strengthening financial profile a...

MARC has assigned, with Positive Outlook, ratings of A+ID /MARC-1 ID to KNM Capital Sdn Bhd’s (KNMC) proposed RM300.0 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN). KNMC is a wholly-owned subdisiary of KNM Group Berhad (KNM) and was created to serve as the centralised funding and treasury vehicle for the KNM group. The ratings are premised ...