MARC has affirmed the rating of Alloy Properties Sdn Bhd’s (APSB) outstanding RM216 million Sukuk Musyarakah Medium Term Notes Programme at AAIS. The rating outlook is stable. The outstanding notes are serviced by APSB’s rental income from its two office buildings and assigned cash flows from sister companies Alloy Toll Management Sdn Bhd (ATM) and Alloy Maintenance Engineering Sdn Bhd...

MARC has affirmed its AAAIS(fg) rating on Senari Synergy Sdn Bhd’s (Senari Synergy) RM380 million Islamic Medium-Term Notes (IMTN) Programme. The outlook on the rating is stable. The affirmed rating and outlook is underpinned by an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) on the sukuk obligations. MARC’s current AAA/stable rating for Dan...

MARC has assigned final ratings of MARC-1IS /AAAIS to PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers and Islamic Medium Term Notes (ICP/IMTN) Programme (Sukuk Programme) of up to RM2.0 billion under the Islamic principle of Murabahah with a stable outlook. The ratings are equalised with MARC’s public information ratings on Petroliam Nasional Berhad’s (PETRONAS) AAA/MA...

MARC has removed KNM Capital Sdn Bhd (KNM Capital) ratings of MARC-2ID /A-ID on its RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) programme from MARCWatch Negative and withdrawn the ratings. The ratings withdrawal follows the full redemption of the facility on October 18, 2013 as confirmed by the facility agent. MARC will no longer provide anal...

MARC has affirmed its ratings of MARC-1IS and AAAIS on Pinnacle Tower Sdn Bhd’s (Pinnacle Tower) RM50 million Islamic Commercial Papers (ICP) and RM400 million Islamic Medium Term Notes (IMTN) respectively with a stable outlook. The rating action affects RM225 million of outstanding notes issued under the programme.Pinnacle Tower is a wholly-owned special purpose funding vehicle of Sacofa Sd...

MARC affirms the ratings of Serrisa Sinar Bhd’s (Serrisa Sinar) RM200 million Islamic commercial papers/Islamic Medium Term Notes (ICP/IMTN) (Senior Notes) and RM20 million Junior IMTN (Junior Notes) at MARC-1ID / AAID and AA-ID  respectively. The outlook of the ratings is stable. The rating of the Junior Notes reflects its subordination to the Senior Notes in respect of profit payment ...

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 has assigned a preliminary rating of AAA(IS) with a stable outlook to Putrajaya Management Sdn Bhd’s (PMSB) proposed Islamic Medium Term Notes (Sukuk Wakalah) programme of up to RM370.0 million. The proceeds from the issuance will be mainly utilised to finance the construction of the 31-storey Ministry of International Trade and Industry (MITI) office tower, which is being undertaken by...

MARC has affirmed its AA- rating on Sports Toto Malaysia Sdn Bhd’s (Sports Toto) up to RM800.0 million Medium Term Note Programme (MTN) with a stable outlook. The rating action affects the outstanding RM580.0 million under the MTN programme. The affirmed rating reflects Sports Toto’s strong cash flow generation from its longstanding involvement in the Numbers Forecasting Operations (NF...