MARC has assigned final ratings of AA-IS and AIS to Alpha Circle Sdn Bhd’s (Alpha Circle) RM540.0 million Senior Sukuk Musharakah and RM55.0 million Junior Sukuk Musharakah respectively under the Sukuk Musharakah programme. The outlook on the ratings is stable.Upon the receipt of the final documentation of the forthcoming issuance, MARC is satisfied that the terms and conditions of the Sukuk...

MARC has issued this rating update as part of its ongoing surveillance process on its A+IS(cg) rating/Negative outlook on KMCOB Capital Berhad’s (KMCOB) Sukuk Murabahah Medium Term Notes programme (Sukuk Murabahah). Since MARC’s last rating action on KMCOB’s Sukuk Murabahah on April 9, 2013, the company has proposed to issue guaranteed serial bonds of up to RM320 million, to whic...

MARC has affirmed its AAA(bg) and AAA(fg) ratings on investment holding company Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million seven-year bank-guaranteed Medium Term Notes (MTN) Programme (Tranche 1) and RM300 million nine-year Danajamin-guaranteed MTN Programme (Tranche 2) respectively. The outlook for both ratings is maintained at stable.The rating assigned on Tranche 1 ...

MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM61 million Istisna’ Serial Bonds with a stable outlook. The rating is underpinned by the irrevocable and unconditional obligation of the Sarawak State Government, via its State Financial Secretary Inc (SFS), to meet the repayment of the bonds under a redeemable pref...

MARC has assigned preliminary ratings of AA-IS and AIS on special purpose company Alpha Circle Sdn Bhd’s (Alpha Circle) proposed RM540 million Senior Sukuk Musharakah (Senior Sukuk) and RM55 million Junior Sukuk Musharakah (Junior Sukuk) respectively under the Sukuk Musharakah programme. The ratings carry a stable outlook. The two-notch rating differential between the Senior Sukuk and the Ju...

MARC has assigned a preliminary rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB) proposed guaranteed serial bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. The assigned rating and outlook reflect an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the Guaranteed Serial Bonds. MARC currently rates Danajami...

MARC has affirmed its AA-IS on Weststar Capital Sdn Bhd's (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Established for the purpose of facilitating the issuance of the sukuk, Weststar Capital is a wholly-owned subsidiary of offshore helicopter operator Weststar Aviation Services Sdn Bhd (Weststar). ‎Securing the sukuk are the rights to receive 40% of revenu...

MARC today lowered its long-term Islamic debt ratings on UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme to AA+ID from AAAID. The rating agency also affirmed its short-term rating on the programme at MARC-1ID. MARC subsequently withdrew all ratings on UMW at its request. The outlook was stable at the time of the withdrawal. MA...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The rating of MARC-1ID on the RM150 million Underwritten Murabahah Commercial Papers Facility has...

MARC has withdrawn its MARC-1ID/AAAID rating on UMW Holdings Berhad’s (UMW) RM500 million Islamic Medium Term Notes (IMTN) programme, which is one of the two Islamic debt programmes of the investment holding company that are rated by MARC. The withdrawal follows the full redemption of the outstanding RM500 million notes under the IMTN programme on May 9, 2013 from part proceeds of a new issu...