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MARC has affirmed its AAAID rating on Gas Malaysia Berhad’s (Gas Malaysia) RM500 million Al-Murabahah Medium Term Notes (MTN) programme with a stable outlook. The affirmed rating reflects the natural gas utility’s fairly diverse industrial, residential and commercial customer base, adequate natural gas supply from national oil and gas company Petroliam Nasional Berhad (PETRONAS), and v...
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MARC has withdrawn its AA-ID and AID ratings on Alpha Circle Sdn Bhd’s (Alpha Circle) RM345.0 million Senior Musharakah Medium Term Notes (MMTN) and RM35.0 million Junior MMTNs respectively with immediate effect. The rating withdrawals follow the early redemption of the outstanding RM315.0 million Senior MMTNs and RM35.0 million Junior MMTNs on November 19, 2013 as confirmed by t...
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MARC has affirmed its AAAIS rating on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. Aman was set up by its parent Pembinaan BLT Sdn Bhd (PBLT), a wholly-owned entity of Government of Malaysia (GoM), to issue the IMTNs to finance the construction of police quarters and facilities for Polis DiRaja Ma...
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MARC has affirmed its AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating of KPA benefits from state support and is aligned to MARC’s public information rating on the Sarawak State Government (SSG) of AAA/Stable. KPA is the operator of Kuching Port.MARC’s assessment of high...
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MARC has assigned a preliminary rating of AA-IS to Malakoff Power Berhad’s (MPower) proposed issuance of Sukuk Murabahah of up to RM5.4 billion. Concurrently, MARC has affirmed its short-term rating of MARC-1IS on MPower’s outstanding RM200 million Islamic commercial papers (ICP) due in April 2014 issued under its RM300.0 million ICP Programme. The ratings outlook is stable. Proceeds f...
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MARC has assigned final ratings of AA-IS and A- to Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) Islamic Medium Term Notes Programme (Sukuk Musharakah or Senior Sukuk) and Redeemable Secured Junior Bonds (Junior Bonds) of up to RM2.3 billion and RM180.0 million respectively. The outlook on the ratings is stable.Upon review of the final documentation of the forthcoming issuance, MARC is...
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MARC has assigned a final rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB Capital) Guaranteed Serial Bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. Upon review of the final documentation of the forthcoming bond issuance, MARC is satisfied that the terms and conditions of the Guaranteed Serial Bonds have not changed in any material way from the draft document...
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MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110.0 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (Senior Notes) and RM10.0 million Junior IMTNs (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The outlook on the ratings is revised to negative from stable. The rating action affects RM23 million of outstanding notes, comprising RM20...
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MARC has upgraded its rating on Tele-Flow Capital Sdn Bhd‘s (Tele-Flow Capital) RM10.0 million Junior Islamic Medium Term Notes (IMTN) Facility (Junior Notes) to AAID from AA-ID. The rating outlook is stable. The rating action affects the RM5 million outstanding Junior Notes as at end-September 2013. The rating upgrade follows the elimination of the structural subordination of the Junior Not...
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MARC has assigned a final rating of AAAIS with a stable outlook to Putrajaya Management Sdn Bhd’s (PMSB) RM370.0 million Islamic Medium Term Notes (Sukuk Wakalah) Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the Sukuk Wakalah Programme have not changed in any material way from the draft documents on which the earlier preliminary ...
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