The rating of AID/ MARC-2ID (A flat, Islamic Debt) assigned to Peremba Jaya Holdings Sdn Bhd’s (PJHSB) (a subsidiary of PECD Berhad) RM200 million MUNIF/MMTN facility reflects the strength of the security arrangement, whereby specific assignments of proceeds in respect of the government quarters contracts under Precinct 11 will serve as the funding source for the redemption of the notes is...

MARC has reaffirmed the rating of Europlus Corporation Sdn Bhd’s (ECSB) RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) at MARC-3ID. The reaffirmation reflects the substantial locked-in sales from developments secured under the MUNIF which essentially acts to mitigate market risk. The rating is, however, moderated by delays in construction works and ultimately progres...

The rating of MK Land Holdings Berhad’s (MK Land) tranche 1 and tranche 2 serial bond ratings have been upgraded to A+ which reflects the company’s excellent business position, its strong financial position and the impressive performance of Damansara Damai (DDamai) and Damansara Perdana (DPerdana) projects, of which the sales proceeds have been assigned for the redemption of the bo...

The rating of AA-ID(double A minus, Islamic Debt) assigned to Guthrie Property Development Holding Berhad’s (GPDH) RM750 million Islamic medium term notes programme reflects the strength of GPDH as a leading property developer in the country and its sound financial profile. Other positive rating factors include GPDH’s vast land holding and its commendable reputation and track recor...

Putrajaya Holdings Sdn Bhd’s (PJH) proposed RM1,500 million Murabahah Notes Issuance Facility comprising Medium Term Notes (MUNIF) has been assigned a long term rating of AAAID. The Islamic debt rating reflects PJH’s issuer rating, based upon its solid capitalization supported by a superior set of shareholders, exceptional financial flexibility and importance of the company in the d...

The assigned rating of AID and A-ID to Class A and B of the proposed BaIDS respectively reflects OSK Property Holdings Berhad (OSKP)’s favourable flagship development – Bandar Puteri Jaya (BPJ) located in Sungai Petani, Kedah and its strong presence in that area; tempered by its vulnerability to adverse development in the property markets. The enhanced AID rating assigned reflects s...

MARC has reaffirmed the rating of KLSSB’s Tranche 1 BaIDS of RM91 million. On 21 October 2003, UDA Holdings Berhad (UDA) had entered into a Subscription Agreement with Harmonic Fairway Sdn Bhd, Malaysian Resources Corporation Berhad (MRCB) and PQSB to subscribe for the issuance of new 15,000,000 ordinary shares of RM1.00 each of PQSB for RM15.0 million, representing approximately 100% of ...

The reaffirmation of the ratings reflects the credit strength of PETRONAS, the principal tenant of the PETRONAS Twin Towers (Tower 1 and Tower 2), which bears the rental payments for both towers. The rental stream forms the primary source of repayment of the debt securities. PETRONAS’ superior credit strength is drawn from its strong financial position, favourable production profile, sig...

The assigned rating of AID (flat) reflects Maxisegar Sdn Bhd’s (MSB) strong competitive position and good location of its property development; tempered by its vulnerability to adverse development in the property markets. MSB, a wholly owned subsidiary of Talam Corporation Berhad (TCB), one of the largest property developers in the country, is principally involved in property development ...

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