MARC has assigned a AAAIS rating to Midciti Resources Sdn Bhd’s (Midciti) proposed 10-year RM880.0 million Sukuk Musharakah Islamic Medium Term Notes programme (Sukuk). The Sukuk proceeds will be primarily used to purchase the company’s existing rated debt securities and cancel the same. The Sukuk issuance will extend Midciti’s debt maturity profile and adequately address the ref...

MARC has affirmed the ratings of MARC-1(fg)/AAA(fg) on Syarikat Kapasi Sdn Bhd’s (Kapasi) RM200 million Commercial Papers/Medium Term Notes (CP/MTN) Programme with a stable outlook. The ratings are premised on the financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) for the CP/MTN Programme. MARC’s current rating of AAA/stable on Danajamin is based on ...

MARC has affirmed its rating on property developer Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID and maintained the issue’s stable rating outlook. Sunrise continues to exist as a separate corporate entity after its acquisition by UEM Land Holdings Berhad (UEM Land) without major changes to its business strategy. The rating action reflects MA...

MARC has assigned a rating of AAAIS(fg) to 1 Warisan Sdn Bhd’s (1 Warisan) RM170.0 million 7-year Islamic Medium Term Notes (IMTN) Programme. The rating carries a stable outlook. The assigned rating and outlook are underpinned by an unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in relation to the IMTN Programme. MARC currently rates Danajam...

MARC has assigned the following long-term ratings to Special Coral Sdn Bhd’s (Special Coral) RM300 million Senior Class MTNs (Senior Notes) classes:  Senior Class MTNIssue sizeRatingOutlook1.Class ARM160 millionAAAStable2.Class BRM40 millionAAStable3.Class CRM35 millionAStable4.Class DRM25 millionBBBStable5.Class ERM10 millionBBStable6.Class FRM30 millionBStableTotalRM300 millionAt the ...

MARC has assigned a rating of AAAIS with a stable outlook to the Islamic Medium Term Notes (IMTN) Programme of up to RM10.0 billion by Aman Sukuk Berhad (Aman).Aman is a special purpose vehicle established to facilitate the issuance of IMTNs on behalf of its parent, Pembinaan BLT Sdn Bhd (PBLT). PBLT, an entity wholly-owned by the Government of Malaysia (GoM), constructs facilities and quarters fo...

MARC has affirmed its AAIS rating on special purpose vehicle Diversified Venue Sdn Bhd’s (DVSB) RM200 million Sukuk Al-Ijarah Master Programme, with the rating outlook maintained at stable. The proceeds from the issue were used to fund the purchase of the Mercu UEM building, which houses UEM Group Berhad’s (UEM) corporate headquarters, from First Impact Sdn Bhd (FISB). The affirmed rat...

MARC has affirmed the ratings on Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP)/Medium Term Notes (MMTN) Programme with a nominal value of up to RM300 million at  MARC-1ID(cg) /AA-ID(cg) with a stable outlook. The ratings reflect the credit strength of Gamuda Berhad (Gamuda), the ultimate parent company of HISB, which has provided a corporate guarantee for the rate...

MARC has affirmed its A rating on Berjaya Land Berhad's (BLand) Secured Exchangeable Bonds due 2011 with the rating outlook maintained at stable. The rating action is premised on the strong collateral coverage afforded under the bond issue structure in which BLand has to maintain at least 130% collateral coverage in the form of pledged shares in its gaming subsidiary, Berjaya Sports Toto Berhad (B...

MARC has placed Horizon Hills Development Sdn Bhd’s (Horizon Hills) MARC-1ID(s) rating on its RM70 million Islamic Commercial Paper (ICP) Programme on MARCWatch Developing following a conditional takeover bid for Sunrise Berhad (Sunrise) by UEM Land Holdings Berhad (ULHB). Horizon Hills is a 50:50 joint venture between Gamuda Berhad (Gamuda) and ULHB’s 100%-owned subsidiary, UEM Land B...