Credit Analysis Reports - Category: Property
Displaying 281-290 of 363 results.
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MARC has reaffirmed Sunrise Berhad’s (Sunrise) short-term and long-term debt ratings of MARC-1ID and A+ID respectively. The outlook on the ratings is positive. The ratings reflect Sunrise’s track record as a reputable and established high-end developer, the high take-up rates for its projects, strong operating margins and cash flow generation capacity, and good financial flexibility. T...


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WCT Land Berhad’s (“WCTL”) RM132 million Convertible Redeemable Debt Securities (“CRDS”) is affirmed at A+ (cg) with stable outlook. The rating reflects the credit support extended by its holding company, WCT Engineering Bhd (“WCTE”), which has sizeable construction order book, and improving business and financial risk profile. WCTL’s stand-alone cre...


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MARC has reaffirmed the MARC-1ID(cg)/AA- ID(cg) of Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP) and Medium Term Notes (MMTN) with a nominal value of up to RM300.0 million. The ratings outlook is stable. The ratings are based on an unconditional and irrevocable corporate guarantee extended by HISB’s ultimate holding company, Gamuda Berhad (Gamuda). The ratings re...


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Major Rating FactorsStrengthsA reputable and an established high-end developer with excellent track records i.e. high take-up rates for all its projects as well as able to complete its project ahead of schedule; andStrong operating margin, good financial flexibility as well as cash flow generation capacity. Challenges/RisksCyclical nature of the property market; andHigher expected debt levera...


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Under this transaction, Inverfin Sdn Bhd (Inverfin), the owner of Menara Citibank will issue up to RM200.0 million Commercial Papers/ Medium Term Notes (Notes) comprising RM160.0 million Class A and RM40.0 million of Class B Notes. MARC has assigned ratings of MARC-1/AAA and MARC-1/AA to Inverfin’s RM160.0 million Class A and RM40.0 million Class B Notes respectively. The ratings reflect the...


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MARC has affirmed the ratings of AAA(bg) and MARC-1(bg) to Mega Palm Sdn Bhd’s (MPSB) 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 with stable outlook. The ratings reflect the strength of the unconditional and irrevocable bank guarantee provided by Malayan Banking Berhad (Maybank). Mayban...


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MARC has downgraded the ratings of Intelbest Corporation Sdn Bhd’s (ICSB) RM110.0 million Bai Bithaman Ajil Bonds (BaIDS) and RM50.0 million Murabahah Notes Issuance Facility (MUNIF). The ratings on ICSB’s Series 1 BaiDS of RM20.0 million, Series 2 BaIDS of RM35.0 million and Series 3 BaIDS of RM55.0 million have been downgraded to B+ID from BBB+ID and BBBID respectively; whilst the ra...


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MARC has assigned the ratings of AAAID(bg) and MARC-1ID(s) to the proposed issuance of Arapesona Development Sdn Bhd’s (Arapesona) Islamic Bank Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200.0 million and Islamic Commercial Papers (ICP) Programme of up to RM70.0 million respectively. The outlook of the ratings is stable. Arapesona is a 50:50 joint venture formed by UEM Land Sdn...


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MARC has affirmed the ratings of Aragorn ABS Berhad’s (Aragorn) RM60.0 million Senior Class A CPs/MTNs, RM10.0 million Senior Class B CPs/MTNs (Senior Class CPs/MTNs), RM20.0 million Subordinated Class C MTNs and RM25.0 million Subordinated Class D MTNs (Subordinated Class MTNs) at MARC-1/AAA, MARC-1/AA, BB and B, respectively. The ratings reflect the quality of the property; the strong c...


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MARC has reaffirmed the ratings of Ample Zone Berhad’s Sukuk Al-Ijarah (Sukuk) Class A of RM50 million and Class B of RM25 million at AA+ID and AID respectively. However, the RM75.0 million Class C Sukuk has been downgraded to BB-ID from BBID. The ratings of Class A and Class B Sukuk reflects the collateral backing the Sukuk; loan-to-values (LTV) which were within MARC’s acceptable ...


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