MARC has affirmed its ratings on Goodway Integrated Industries Bhd’s (Goodway) RM80.0 million Murabahah Notes Issuance Facility/Islamic Medium Term  Notes (MUNIF/IMTN) at MARC-2ID/AID. The rating outlook has been revised to stable from negative. The outlook revision takes into consideration the group’s demonstrated efforts to reduce its gearing levels to below the covenanted level...

MARC has assigned ratings of MARC-1ID and AA-ID on KNM Group Berhad’s (KNM) up to RM400 million Islamic Commercial Paper Programme (ICP Programme) and up to RM1.1 billion Islamic Medium Term Note Programme (IMTN Programme) respectively. The outlook on the long-term rating is stable. KNM’s ratings reflect the group’s strong market position, well-diversified product offerings and g...

MARC has affirmed the ratings of geosynthetic manufacturer Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) at MARC-2ID / AID. The rating outlook is revised to stable from developing. Since MARC’s review at end-August 2009, the rating agency’s concerns over the executi...

MARC has downgraded its rating on Mithril Bhd’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stock (RCSLS) to B from B+. Its rating outlook is maintained at negative. The rating action reflects Mithril’s continuing losses as a result of worsening prospects of its mainstay polyurethane (PU) architectural mouldings business and its impaired balance sheet following certain i...

MARC has affirmed its ratings on KNM Capital Sdn Bhd’s (KNMCap) RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID/AA-ID. The outlook on the ratings is stable. KNMCap is a wholly-owned subsidiary and the funding conduit for KNM Group Berhad (KNM). The ratings reflect the group’s strong market position, well-diversified p...

MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating outlook is revised to positive from stable. The affirmed rating and outlook revision incorporates Antara’s overall operating profile and recent financial performance which have supported improvements in its liquidity and debt se...

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. The affirmed ratings of Class A and Class B Sukuk reflect the maintenance of adequate credit enhancements that are consistent with the ...

MARC has revised its ratings on OPTIMAL Glycols (Malaysia) Sdn Bhd’s (Glycols) and OPTIMAL Chemicals (Malaysia) Sdn Bhd’s (Chemicals) (jointly known as Glycols & Chemicals) RM453.0 million and RM567.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) respectively to AAAID from AA+ID(s) and at the same time removed the ratings from MARCWatch Positive where they were first...

MARC has affirmed its ratings of Kinsteel Berhad’s (Kinsteel) RM100.0 million Murabahah Commercial Papers/Medium Term Notes (Murabahah CP/MTN) and RM100.0 million Murabahah Medium Term Notes (MMTN) Programmes at MARC-2ID / AID and AID respectively. Concurrently, MARC has revised its rating outlook on the ratings to stable from developing.The revised outlook stems from expectations that the c...

MARC has affirmed its rating of A on Handal Offshore Services Sdn Bhd’s (Handal) RM50.0 million Medium Term Notes Programme (MTN). The rating outlook has been revised to positive from stable. The affirmation of the rating is premised on greater earnings visibility from the company’s lifting solutions for workover projects division, which commenced operations in 2006, and the stable con...