MARC has assigned a rating of A- to Press Metal Berhad’s (Press Metal) RM323.7 million Redeemable Convertible Secured Loan Stocks (RCSLS) with 147.2 million detachable warrants (warrants). The outlook for the rating is stable.  The rating incorporates the aluminium producer’s exposure to fluctuation in pricing and volume in domestic and export markets, particularly for its primary...

MARC has assigned a rating of AAAIS(fg) to Antara Steel Mill Sdn Bhd’s (Antara) RM300 million Guaranteed Islamic Securities (GIS) programme with a stable outlook. The RM300 million GIS programme is guaranteed by Danajamin Nasional Bhd (Danajamin). At the same time, MARC has affirmed its rating of AID on Antara’s existing RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (B...

MARC has affirmed its ratings of MARC-2ID/AID and AID on Kinsteel Bhd’s (Kinsteel) RM100 million Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) and RM100 million Murabahah Medium Term Notes (MTN) Programme. The rating outlook is maintained at stable. The affirmed ratings and stable outlook incorporate Kinsteel’s strong competitive position in several steel product seg...

MARC has affirmed the rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400 million Murabahah Medium Term Notes (MMTN) Programme at AID. The rating outlook has been revised to negative from stable. The outlook revision incorporates the recent deterioration in Perwaja’s operating performance, and continuing pressure from lower volumes and rising input costs. Of particular concern to MARC is...

MARC has affirmed its MARC-2ID/AID ratings on EP Manufacturing Berhad's (EPMB) RM150.0 million Murabahah Notes Issuance/Islamic Medium Term Notes (MUNIF/IMTN) facilities and RM120.0 million MUNIF/IMTN facilities. At the same time, the outlook on the ratings has been revised to stable from negative. The rating action affects RM8.0 million of outstanding notes issued under the RM150.0 million MUNIF/...

MARC has upgraded Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes (MTN) rating to A+ from A. The outlook on the rating is stable. The rating upgrade reflects the company’s strong recurring earnings generation and profitability, supported by its defensible business position as Malaysia’s only fully-integrated offshore pedestal crane service provider and ...

MARC has placed Maxtral Industry Berhad's (Maxtral) following Islamic debt ratings on MARCWatch Negative:1) The AID rating on its RM80.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) facility; and2) The MARC-2ID/AID ratings on its RM20.0 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities.The rating action refl...

MARC has affirmed its MARC-1ID/A+ID ratings on Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance/Islamic Medium Term Notes Facility (MUNIF/IMTN) with a stable outlook. The affirmed ratings reflect its leading domestic market position in polyethylene engineering products, strong niche positions in water, wastewater and telecommunication infrastructure in East Malaysi...

MARC has affirmed Boon Koon Group Berhad’s (BKGB) RM100 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) ratings at MARC-3ID/BBB-ID and concurrently revised the outlook to stable from negative. The affirmed ratings reflect BKGB’s improving business risk profile stemming from recent regulatory developments in the rebuilt commercial vehicle industry, as well as busi...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg), respectively. The outlook on the ratings is stable. ALB is a bankruptcy remote special purpose vehicle incorporated to facilitate the issuance of the Sukuk and the sale and leaseback of industri...