The rating of Kuala Lumpur Sentral Sdn Bhd’s (KLSSB) RM720.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) comprising Tranches 2B, 3, 4A & 4B has been upgraded to A+ID(s) with a stable outlook reflecting the support provided by Bank Pembangunan Malaysia Berhad (BPMB) (formerly known as Bank Pembangunan dan Infrastruktur Malaysia Berhad or “BPIMB”) by way of ...

WCT Land Berhad’s (“WCTL”) RM132 million Convertible Redeemable Debt Securities (“CRDS”) is upgraded from A to A+ (cg) with a stable outlook to reflect the strength of the corporate guarantee provided by its holding company, WCT Engineering Bhd (“WCTE”). WCTE’s RM100 million Islamic Fixed Rate Serial Bonds initial A+ rating assigned by MARC in June...

MARC has assigned AAIS to Diversified Venue Sdn Bhd’s (“DVSB”) RM200 million Sukuk Al-Ijarah Master Program. The rating reflects the quality of the Assets and the strength of the Liquidity Support Provider and Purchase Undertaking Provider, United Engineers (Malaysia) Berhad (“UEM”). UEM is a well diversified conglomerate with its principal activities spanning const...

The ratings of Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP) and Medium Term Notes (MMTN) (collectively known as the Programme) of up to a nominal value of RM300.0 million have been affirmed at MARC-1ID (cg)/AA-ID (cg) with stable outlook. The ratings reflect the unconditional and irrevocable corporate guarantee extended by its ultimate holding company, Gamuda Berhad (...

MARC has assigned MARC-1ID for Sunrise’s Islamic Commercial Paper issuance programme and A+ID for Islamic MTN issuance programme with value of up to RM150 million. The ratings reflect Sunrise’s good financial track with operating margins averaging 23% in the last four years, low debt leverage position and good financial flexibility. The assigned ratings were also underpinned by the com...

MARC has assigned a rating of A to Berjaya Land Berhad’s (‘BLand’) proposed issuance of five-year Secured Exchangeable Bonds with nominal value of up to RM900 million. The rating reflects the strength of its associated company, Berjaya Sports Toto (“BToto”) of which the shares form the exchange property, its competitive position as the sole national lotto operator wit...

MARC has affirmed the rating of MARC-2/A- with stable outlook to Equine Capital Berhad’s (ECB or Issuer) Commercial Papers/Medium Term Notes Programme (CP/MTN Programme) of up to RM95 million. The rating reflects ECB’s high competitive position through its flagship developments in Seri Kembangan, credible track record of timely completion of its projects and low debt leverage position....

MARC has downgraded the ratings of Ample Zone Berhad’s (AZB) Sukuk Al-Ijarah comprising of RM50 million Class A Sukuk, RM25 million Class B Sukuk and RM75 million Class C Sukuk (Sukuk) from AAAID, AAID and AID to AA+ID, AID and BBID, respectively. The ratings reflect the deterioration of AZB’s cash flow resulting from the non rental payment from subsidiaries of Talam Corporation Berhad...

The long and short term ratings of AAA(bg) and MARC-1(bg) assigned 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 reflect the unconditional and irrevocable bank guarantee provided by Malayan Banking Berhad (Maybank). MPSB is principally involved in propert...

Under this transaction, a bankruptcy remote special purpose vehicle, Aragorn ABS Berhad (Aragorn), will purchase a designated piece of land together with its building, Wisma Technip, by issuing up to RM115.0 million CPs/MTNs; renting the property to tenants for the benefit of the senior noteholders; and utilising rental collections towards making coupon payments. Monthly rental payments into th...