Under this sale and leaseback transaction, Kwantas SPV Sdn. Bhd. (SPV), a special purpose company and a wholly owned subsidiary of Kwantas Corporation Berhad (KCB) has been incorporated for the sole purpose of owning and leasing plantation properties for the benefit of the Islamic securities investors as well as issuing up to RM65.0 million Murabahah Commercial Papers/Medium Term Notes Programme (...

MARC has received confirmation from Mayban Trustees Bhd as the trustee for Kwantas Corporation Berhad (KCB), that the ABBA bonds amounting up to RM100 million has been redeemed and refinanced through an issuance of RM220 million Islamic Securities by Kwantas SPV Sdn Bhd (a wholly-owned subsidiary of KCB) and all agreements related to the facility have been terminated accordingly. As such, MARC no ...

MARC has affirmed Boustead Plantations’ (formerly known as Kuala Sidim Berhad) long term ratings under Tranche 1 and 2 at A+(BG) and A- respectively. Meanwhile the short term ratings of Tranche 1 and 2 are reaffirmed at MARC-1(BG) and MARC-2 respectively. The reaffirmation of RM50 million Tranche 1 ratings reflects the unconditional and irrevocable guarantee by Southern Bank Berhad (SBB), while ...

MARC has reaffirmed the ratings of TSH Resources Bhd’s (TSH) RM100 million in nominal value Al-Murabahah Commercial Papers/Medium-Term Notes (CPs/MTNs) at MARC-1ID/A+ID. The reaffirmation reflects the sturdy performances of TSH’s diversified business portfolio of palm oil milling and plantations, manufacturing of engineered solid hardwood flooring products, biomass power generation as well as ...

MARC has reaffirmed the rating of Tian Siang Holdings Sdn Bhd (Tian Siang)’s RM93 million nominal value coupon bearing serial bonds (Serial Bonds) at A (A Flat). The reaffirmation reflects the Group’s improving profitability and consistent operational efficiency. Nevertheless, a moderating factor to the rating is the cyclical nature of palm oil industry largely due to potential fluctuation in ...

The MARC-1ID (Islamic Debt) rating assigned to Kumpulan Guthrie Berhad’s (Guthrie) proposed RM150 million Underwritten Murabahah Commercial Papers reflects the Group’s strong position as one of the country’s leading plantation players cum property developer with vast land banks in Malaysia and Indonesia; its sound financial profile and strong financial flexibility. Moderating factors to the...

The rating of IJM Plantations Berhad’s (IJMP) RM150 Million Al-Bai Bithaman Ajil Islamic Debt Securities has been upgraded to A+ID reflecting its business focus in oil palm plantation and palm oil milling and its strong financial profile. The rating is, however, moderated by the Group’s vulnerability to cyclical developments in the palm oil industry.IJMP’s oil palm cultivation is undertaken ...

The ratings of TH Group Berhad’s (THG) proposed RM200 million Commercial Papers/Medium-Term Notes Programme at MARC-2/A (MARC-2/single A flat) reflect THG’s improving financials on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction divisions. Some of the moderating factors include volatility in CPO prices, seasonal factors affe...

MARC has assigned AAAID and AAID to ABS Plantation Assets Berhad (ABSP)’s RM50 million Class A and RM45 million Class B Bai-Bithaman Ajil (BaIDS) Islamic Debt Securities respectively. The ratings reflect the quality of the plantation properties; the structural features incorporated into the transaction; irrevocable guarantee provided by Multi Vest in respect of the periodic lease payments; and r...

The rating of TH Group Berhad’s (THG) RM150 million BaIDS is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction divisions. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domes...