The rating of IJM Plantations Berhad’s (IJMP) RM150 Million Al-Bai Bithaman Ajil Islamic Debt Securities (ABBA Bonds) has been upgraded to A+ID reflecting its business focus in oil palm plantation and palm oil milling and its strong financial profile. This is, however, moderated by the Group’s vulnerability to cyclical developments in the palm oil industry.IJMP’s oil palm culti...

Under this transaction, a bankruptcy remote special purpose vehicle, ABS Plantation Assets Berhad (ABS), will acquire the plantation properties from Benta Plantations (Perak) Sdn. Bhd. (BPSB) and its subsidiaries (sellers) and subsequently lease the properties to the sellers for the benefit of noteholders. The purchase of the properties will be funded by proceeds from issuance of RM95 million B...

The ratings of TH Group Berhad’s (THG) proposed RM200 million Commercial Papers /Medium Term Notes Programme at MARC-2/A (MARC-2/single A flat) reflect THG’s improving financials on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction divisions. Some of the moderating factors include volatility in CPO prices, seasonal f...

The rating of TH Group Berhad (THG) is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction division. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domestic construction se...

The MARC-1 BG rating assigned to YPJ Oil Palm Estate Sdn Bhd’s (YPJOPE) proposed RM180 million Guaranteed Commercial Papers reflects the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Merchant Bank Berhad, Affin Bank Berhad and Bumiputra-Commerce Bank Berhad.Despite the inherent volatility in commodity price of crude palm oil (CP...

Kwantas Corporation Berhad’s (KCB) rating has been reaffirmed at A+ID reflecting the integrated nature of the Group’s palm oil operations; its expanding activities namely, the establishments of operations in China (Guangzhou and Zhangjiagang); the commercialization of renewable bio-mass energy; and the Group’s strengthening financial profile.KCB Group’s credit strength is...

MARC has reaffirmed the rating of Tian Siang Holdings Sdn Bhd (Tian Siang)’s RM93 million nominal value coupon bearing serial bonds (Serial Bonds) at A (A flat). The reaffirmation reflects the Group’s improving profitability and consistent operational efficiency. Nevertheless, the rating is moderated by the cyclical nature of the palm oil industry; largely due to potential fluctuati...

MARC has upgraded Boustead Plantation Berhad’s (Boustead Plantation) (formerly known as Kuala Sidim Berhad) long term rating under Tranche 1 from A(BG) to A+(BG) and reaffirmed the rating of Tranche 2 at A-. Meanwhile, the short term ratings of Tranche 1 and 2 are reaffirmed at MARC-1 and MARC-2 respectively. The RM50 million Tranche 1 upgrade reflects the unconditional and irrevocable gua...

MARC has reaffirmed the rating of TSH Resources Bhd’s (TSH) Al-Murabahah Commercial Papers/Medium Term Notes at MARC-1ID/A+ID. The reaffirmation of the rating reflects the steady improvement of TSH’s financial profile and strong operating record. The Group’s diversified business portfolio of palm oil milling and the manufacturing of engineered flooring products recorded sturdy...

The rating of TH Group Berhad (THG) is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction division. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domestic construction s...