MARC has affirmed its AAAID /MARC-1ID and AAAIS ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances as follows:- RM570 million Bai Bithaman Ajil (BBA) Bonds Issuance Facility (due 2013) RM850 million BBA Bonds Issuance Facility (due 2013) RM850 million BBA Serial Bonds Issuance Facility (due 2015) RM1.5 billion Murabahah Notes Issuance (MUNIF) Facility (due 2015)RM2.2 billio...

MARC has affirmed its ratings of MARC-1/AAA, MARC-1/AA and MARC-1/A on Gandalf Capital Sdn Bhd’s (Gandalf Capital) RM118 million Commercial Papers/Medium Term Notes Programme comprising RM87 million Class A, RM16 million Class B  and RM15 million  Class C notes respectively with a stable outlook. Wholly-owned by Quill Capita Trust (Quill Trust), Gandalf Capital is a special purpose...

 MARC has affirmed its MARC-1/AAA and MARC-1/AA ratings of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes and RM40.0 million Class B Notes respectively under a RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The ratings are supported by the quality and strategic location of the collateral property, low loan-to-value ratios (LTV) for the respective no...

MARC has affirmed its ratings of B and B- on Talam Corporation Berhad's (Talam) RM356.25 million Redeemable Convertible Secured Loan Stocks (RCSLS) and RM257.40 million Redeemable Convertible Preference Shares (RCPS) respectively. The outlook on the ratings has been revised to negative from stable. MARC is also withdrawing both ratings with immediate effect at the request of the issuer and will no...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds (serial bonds) and the AAA(s) rating on its 13-year bonds (conventional bonds). The ratings carry a stable outlook. Midciti is the owner of the PETRONAS Twin Towers which houses the corporate headquarters of Petroliam Nasional Bhd (PETRONAS). The affirmed ratings primarily refl...

MARC has lowered its ratings on Ample Zone Berhad’s (Ample Zone) RM10.9 million Class B Sukuk Ijarah (Sukuk) to A-IS from AA+IS, and affirmed RM75 million Class C at B+IS. The outlook on the ratings remains negative. The rating downgrade on the Class B Sukuk reflects severe stress on the property-backed transaction caused by continued non-payment of rentals from entities related to Talam Cor...

MARC has affirmed its AAA(bg) and MARC-1(bg) ratings on property developer Mega Palm Sdn Bhd’s (Mega Palm) Bank Guaranteed Medium Term Notes (BG MTN) of up to RM70.0 million and Bank Guaranteed Commercial Papers (BG CP) of up to RM80.0 million respectively. The outlook for the ratings is stable. The affirmed ratings and stable outlook are based on MARC’s public information ratings of A...

MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relation ...

MARC has affirmed its rating on Sunrise Berhad’s RM400.0 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins, large future expected billings from contracted sales (unbilled sales), fairly sizeable land bank to sustain developmen...

MARC has assigned the ratings of MARC-1IS(fg) /AAAIS(fg) to LBS Bina Group Bhd’s (LBS-GB, or the Group) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN, or Sukuk) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in...