Credit Analysis Reports - Category: Trading/Services
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Rating action     MARC Ratings has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme. Rationale     The rating is driven by BDB’s improving business profile in construction and property development, its low-to-moderate leverage position, and adequate liquidity to meet short-te...


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Rating action     MARC has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme.Rationale     The rating incorporates BDB’s competitive strength to undertake public infrastructure and construction contracts in Kedah, its moderate position as a property developer, its low-to-moderate l...


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Popularity: 598 views 20 downloads
MARC has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme.The affirmed rating incorporates BDB’s status as a Kedah state-owned entity that has benefitted from state support in securing contracts for its road building division and facilitating land acquisition for its property division. The rating is constraine...


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Popularity: 814 views 34 downloads
MARC has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM30.0 million as at end-August 2019. The affirmed rating incorporates BDB’s moderate debt level and the group’s improved business prospects that should lead to a financial turnaround over the ne...


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Popularity: 935 views 32 downloads
MARC has affirmed its short-term rating of MARC-2IS on investment holding company Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme. The outlook for the rating is stable. The outstanding notes under the programme stood at RM50.0 million as at end-March 2018. The rating affirmation primarily reflects BDB’s strong liquidity position and moderate debt ...


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Popularity: 1152 views 4 downloads
MARC has assigned a final short-term rating of MARC-2IS to Bina Darulaman Berhad’s (BDB) proposed RM100.0 million Islamic Commercial Papers (ICP) Programme. The outlook for the rating is stable. The rating primarily reflects BDB’s moderate business and financial profile, characterised by improving profitability on the back of increased property development activities and a secured road m...


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Popularity: 1743 views 29 downloads
MARC has affirmed the ratings of Bluwater Developments Berhad’s (Bluwater) RM47 million Bank Guaranteed Commercial Papers (CPs) and RM130 million Bank Guaranteed Serial Bonds (Bonds) at MARC-1(bg) and AAA(bg) respectively. The ratings carry a stable outlook. The affirmed ratings and outlook are underpinned by the unconditional and irrevocable bank guarantee provided by Malayan Banking Berhad...


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Popularity: 1445 views 24 downloads
MARC has affirmed its MARC-1(bg) and AAA(bg) ratings of Bluwater Developments Berhad’s (Bluwater) (formerly known as Mines Resort Berhad) short- and long-term ratings of its RM47 million Bank Guaranteed Commercial Papers (CPs) and RM130 million Bank Guaranteed Serial Bonds (Bonds) respectively. The ratings carry a stable outlook. The affirmed ratings and outlook are underpinned by the uncond...


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Popularity: 1378 views 39 downloads
MARC has reaffirmed the short and long term ratings of Mines Resort Berhad’s (MRB) Bank Guaranteed Commercial Papers and Bank Guaranteed Serial Bonds at MARC-1(bg) and AAA(bg) respectively. The reaffirmed ratings reflect the strength of an unconditional and irrevocable guarantee provided by Malayan Banking Berhad (Maybank). The stable ratings outlook mirrors that of Maybank’s public in...


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Popularity: 1315 views 22 downloads
MARC has reaffirmed the short and long term ratings of Mines Resort Berhad’s (MRB) Bank Guaranteed Commercial Papers and Bank Guaranteed Serial Bonds at MARC-1(bg) and AAA(bg) respectively, reflecting the unconditional and irrevocable guarantee provided by Malayan Banking Berhad (Maybank). On a stand alone basis, MARC maintains a cautious outlook for MRB, reflected by delays in its propose...


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