MARC has affirmed its short-term and long-term ratings of MARC-2ID /AID on EP Manufacturing Berhad's (EPMB) RM120 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Programme with a stable outlook. The rating action affects RM10 million of notes outstanding under the programme.The affirmed ratings reflect the group’s strong domestic market position as leading Ti...

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 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 short-term and long-term ratings of automotive parts manufacturer, EP Manufacturing Berhad’s (EPMB) of up to RM150 million and RM120 million Murabahah Notes Issuance Facilities/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID /AID. The affirmed ratings recognise EPMB’s defensible market position in the domestic auto parts sector but high reliance on national car...

Major Rating FactorsStrengths Tier One auto parts vendor with balanced product mix, focusing on safety components;Technical partnership with Bosch (international household name) and Koito (one of the world’s largest headlamp manufacturers); andImproved earnings diversity through injection of water meter manufacturing business.Challenges/Risks Buyer concentration risk in relation to national ...

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 EP Manufacturing Berhad’s (EPMB) short and long term ratings of MARC-2ID /AID respectively on its RM150.0 million MUNIF/IMTN; reflecting the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton Holdings Berhad (Proton) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), via its subsidiary; PEPS-JV (M) Sdn Bhd (PEPS-JV). Moderating factors includ...

The affirmation of EP Manufacturing Bhd’s (EPMB) long and short-term ratings of MARC-2ID/AID on its RM150.0 million Islamic MUNIF/IMTN reflect the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton, via its subsidiary; PEPS-JV (M) Sdn Bhd. Moderating factors include its dependence on the sales performance of national cars (i.e. Proton and Perodua) which contr...

EP Manufacturing Bhd’s (EPMB) long and short-term ratings of AID/MARC-2 on its proposed RM150.0 million Islamic private debt securities reflect the Group’s position as a Tier-1 parts vendor for the national carmaker, PROTON, via its subsidiary; PEPS-JV (M) Sdn Bhd. Moderating factors include the inherent risks of the automotive industry as well as its dependence on the sales perform...