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MARC has affirmed its MARC-2ID/AID ratings on EP Manufacturing Berhad's (EPMB) RM150.0 million Murabahah Notes Issuance/Islamic Medium Term Notes (MUNIF/IMTN) facilities and RM120.0 million MUNIF/IMTN facilities. At the same time, the outlook on the ratings has been revised to stable from negative. The rating action affects RM8.0 million of outstanding notes issued under the RM150.0 million MUNIF/...
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MARC has placed Maxtral Industry Berhad's (Maxtral) following Islamic debt ratings on MARCWatch Negative:The AID rating on its RM80.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) facility; andThe MARC-2ID/AID ratings on its RM20.0 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities.The rating action reflects a slower-than-expecte...
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MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg), respectively. The outlook on the ratings is stable. ALB is a bankruptcy remote special purpose vehicle incorporated to facilitate the issuance of the Sukuk and the sale and leaseback of industri...
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MARC has placed its MARC-2ID/AID ratings on Emas Kiara Industries Berhad's (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) on MARCWatch Developing. The MARCWatch placement follows EKIB's proposed divestment of its geosynthetic manufacturing business to Tencate Geosynthetics Asia Sdn Bhd,a subsidiary of Netherland...
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MARC has upgraded Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes (MTN) rating to A+ from A. The outlook on the rating is stable. The rating upgrade reflects the company’s strong recurring earnings generation and profitability, supported by its defensible business position as Malaysia’s only fully-integrated offshore pedestal crane service provider and ...
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MARC has affirmed its MARC-1ID/A+ID ratings on Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance/Islamic Medium Term Notes Facility (MUNIF/IMTN) with a stable outlook. The affirmed ratings reflect its leading domestic market position in polyethylene engineering products, strong niche positions in water, wastewater and telecommunication infrastructure in East Malaysi...
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MARC has affirmed Boon Koon Group Berhad’s (BKGB) RM100 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) ratings at MARC-3ID/BBB-ID and concurrently revised the outlook to stable from negative. The affirmed ratings reflect BKGB’s improving business risk profile stemming from recent regulatory developments in the rebuilt commercial vehicle industry, as well as busi...
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MARC has affirmed its ratings on Goodway Integrated Industries Bhd’s (Goodway) RM80.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The rating outlook has been revised to stable from negative. The outlook revision takes into consideration the group’s demonstrated efforts to reduce its gearing levels to below the covenanted level of 1....
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MARC has assigned ratings of MARC-1ID and AA-ID on KNM Group Bhd’s (KNM) up to RM400 million Islamic Commercial Paper Programme (ICP Programme) and up to RM1.1 billion Islamic Medium Term Note Programme (IMTN Programme) respectively. The outlook on the long-term rating is stable. KNM’s ratings reflect the group’s strong market position, well-diversified product offerings and geog...
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MARC has affirmed the ratings of geosynthetic manufacturer Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) at MARC-2ID/ AID. The rating outlook is revised to stable from developing. Since MARC’s review at end-August 2009, the rating agency’s concerns over the executio...
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