MARC has affirmed the short-term and long-term ratings of automotive part manufacturer, EP Manufacturing Berhad’s (EPMB) Murabahah Notes Issuance Facilities/Islamic Medium Term Notes (MUNIF/IMTN) of up to RM150.0 million and RM120.0 million at MARC-2ID/AID. The ratings carry a negative outlook. The affirmed ratings reflect EPMB’s dependence on the cyclical domestic automotive sector, i...

MARC has affirmed the rating of Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 Million Murabahah Medium Term Notes (MMTN) Programme at AID and revised its rating outlook to stable from developing.The affirmed rating and revised rating outlook reflects MARC’s expectations of restored profitability and cash flow generation with the improving steel price environment. Perwaja’s financial ...

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. The rating outlook is maintained at stable. The affirmed ratings reflect Weida’s strong market position in its core business of High Density Polyethylene Engineering (HDPE) product manufacturing, improved business line and geogra...

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 of KNM Group Berhad (KNM) and serves as a funding conduit for the group. The ratings reflect KNM’s enhanced market position, ...

MARC has affirmed Maxtral Industry Berhad’s (Maxtral) short-term rating of MARC-2ID and long-term rating of AID on its RM80 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes/Murabahah Medium Term Notes (MUNIF/MMTN) facilities with a negative outlook. The negative outlook reflects softened profitability relative to pre-2008 levels and t...

MARC has affirmed its MARC-2ID /AID ratings on Goodway Integrated Industries Berhad’s (Goodway) RM80 million Murabahah Notes Issuance Programme/Islamic Medium Term Notes Programme (MUNIF/IMTN). The outlook on the ratings is maintained at negative. The affirmed ratings take into consideration Goodway’s competitive position as a major domestic producer of rubber compounds and leading pro...

MARC has affirmed its MARC-1ID /AID ratings on Delloyd Ventures Berhad’s (‘Delloyd’ or ‘the Group’) RM100 million Islamic Commercial Papers / Medium Term Notes (CP/MTN) Programme with a stable outlook. The affirmed ratings reflect Delloyd’s favourable competitive position in auto part product segments which have demonstrated a fair degree of resilience in a rece...

MARC has assigned a CID rating to Tracoma Holdings Bhd's (Tracoma) proposed RM100 million Restructured Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS).  The Restructured BaIDS will be issued in connection with Tracoma's debt restructuring plan which involves its existing BaIDS holders. Accordingly, MARC has withdrawn its D rating on Tracoma’s existing RM100 million BaIDS which ...

MARC has affirmed the AID rating on Antara Steel Mills Sdn Bhd’s (Antara) RM500.0 Million Bai’ Bithaman Ajil Islamic Debt Securities and concurrently removed the rating from MARCWatch Negative where it had been since February 3, 2009 over concerns on the financial impact of a three-month shutdown of its Labuan-based hot briquetted iron (HBI) plant in late last year. The rating outlook ...

MARC has affirmed Mithril Bhd’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) rating at B+. The negative outlook on the rating has been maintained. The affirmed rating and continued negative outlook reflects MARC’s concern about the sustainability of the company as a going-concern given the lack of near-term recovery prospects for the company’s core bu...