MARC has affirmed its AAAID /MARC-1ID and AAAIS ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances as follows:- RM570 million 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 billion Murabahah Medium T...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds) and the AAA(s) rating on its 13-year bonds with a nominal value of up to RM1,315 million. The ratings carry a stable outlook.The affirmed ratings and the stable ratings outlook reflect the credit strength of Petroliam...

MARC has upgraded Glomac Berhad’s (Glomac) long-term rating to AID from A-ID and concurrently affirmed the short-term rating at MARC-2ID under the RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The upgrade reflects Glomac’s improved financial leverage and the turnaround in Glomac’s cash flow generation,...

MARC has affirmed its AAA, AA and A+ ratings on Vast Winners Sdn Bhd’s (Vast Winners) RM650.0 million Medium Term Notes Programme’s (MTN Programme) senior classes of RM190.0 million Class A, RM40.0 million Class B and RM20.0 million Class C, respectively. The outlook on the ratings is stable. The ratings mainly reflect the satisfactory performance of the securitised property, which has...

MARC has affirmed its AAA(bg) and MARC-1(bg) ratings on property developer Mega Palm Sdn Bhd’s 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 rating action is underpinned by MARC’s affirmation of its AAA/MARC-1 public information ratings on...

MARC has affirmed its AA+IS rating on Ample Zone Berhad’s (AZB) Sukuk Al-Ijarah (Sukuk) RM13.3 million Class B and lowered its rating on the RM75.0 million Class C Sukuk to B+IS from BB-IS. Additionally, MARC has assigned negative outlooks to both classes of Sukuk to reflect the downward pressure on the ratings arising from the continuing failure of entities related to AZB to pay rent for sp...

MARC has affirmed its AA+IS rating on Ample Zone Berhad’s (AZB) Sukuk Al-Ijarah (Sukuk) RM13.3 million Class B and lowered its rating on the RM75.0 million Class C Sukuk to B+IS from BB-IS. Additionally, MARC has assigned negative outlooks to both classes of Sukuk to reflect the downward pressure on the ratings arising from the continuing failure of entities related to AZB to pay rent for sp...

MARC has issued this rating update in connection with Sime Darby Property Berhad’s (SDPB) (formerly known as Guthrie Property Development Holding Berhad) proposed early redemption of the outstanding Islamic Medium Term Notes Programme (IMTN) totalling RM100 million which matures in March 2011. SDPB is currently seeking bondholders’ approval for the proposed early redemption and subsequ...

MARC has assigned ratings of B+ID, B and B- to Talam Corporation Berhad's (Talam) RM134.21 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS), RM356.25 million Redeemable Convertible Secured Loan Stocks (RCSLS) and RM257.40 million Redeemable Convertible Preference Shares (RCPS), respectively. The Settlement BaIDS, RCSLS and RCPS will be issued in connection with Talam's f...

MARC has affirmed its ‘A’ rating on Berjaya Land Berhad’s (BLand) Secured Exchangeable Bonds, of which RM882.0 million remains outstanding currently. Concurrently, the outlook was revised to developing from stable. MARC’s revised outlook for the rating reflects increased uncertainty posed by the exchangeable bonds’ approaching put option date of August 15, 2009 and co...