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MARC has withdrawn its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) programme. The withdrawal follows the full redemption of the Sukuk Ijarah programme on May 3, 2013, as confirmed by the facility agent. MARC will no longer provide analytical coverage on the issuer upon withdrawal of the aforementioned rating.Contacts: Se...
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MARC has affirmed the rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of E...
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MARC has withdrawn its B+ rating on Olympia Industries Berhad’s outstanding RM5,500.0 Redeemable Unsecured Loan Stock (RULS) following the full settlement of the RULS on April 11, 2013 as confirmed by the issuer. MARC will cease all analytical coverage on the issuer following the withdrawal of the rating. Contacts: Jasmine Kua, +603-2082 2280/ jasmine@marc.com.my; Rajan Paramesran, +603-2082...
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MARC has affirmed the ratings of AAAID and MARC-1ID /AAAID on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (CP/MTN) programmes respectively, and concurrently revised the outlook on the ratings to stable from negative. The rating action affects RM1.3 billion of outstanding notes under the rated programmes. The ou...
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MARC has removed its rating on KMCOB Capital Bhd’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme from MARCWatch Negative and affirmed its A+IS(cg) rating on the company. The outlook on the rating is negative. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), the oilfield services unit of Scomi Group Bhd (Scomi). MARC had earlier placed KMCOB&rsqu...
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MARC has affirmed its AA-ID and AID ratings on Alpha Circle Sdn Bhd’s (Alpha Circle) RM345.0 million Senior Musharakah Medium Term Notes (MMTN) programme and RM35.0 million Junior MMTNs respectively. The ratings carry a stable outlook. The ratings affirmation incorporates the strong performance of Alpha Circle due to the higher-than-projected issuance of foreign work permits for which fixed ...
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MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility at MARC-1(cg) /AAA(cg) and MARC-1ID(cg) /AAAID(cg) respectively. The outlook for the ratings is revised to negative from stable. The ratings reflect the credit strength of the ...
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MARC has affirmed the rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. The rating outlook is maintained at negative. The affirmed rating considers DRB-HICOM’s asset disposals which give the holding company moderate visibility as to its funding sources for debt servicing requirements over the next two years. MARC’s assessm...
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MARC has affirmed its rating of AA+IS(bg) on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) programme with a stable outlook. The affirmed rating solely reflects MARC’s affirmation on the financial institution rating of the guarantor, Kuwait Finance House (Malaysia) Berhad (KFHMB), full details of which are provided in the rating announce...
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MARC has placed its A+IS(cg) issue rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme on MARCWatch Negative. The rating actions affect RM302.55 million of outstanding notes issued by KMCOB. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), which in turn is a wholly-owned subsidiary of Scomi Group Bhd (Scomi). MARC rates the notes bas...
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