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MARC has affirmed its ratings on LBS Bina Group Bhd’s (LBS Bina) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) Programme at MARC-1IS(fg)/AAAIS(fg) with a stable outlook. The affirmed ratings and outlook are underpinned by an irrevocable and unconditional Kafalah Guarantee provided by financial guarantee institution Danajamin Nasional Berhad (Danajamin) in relat...
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MARC has removed its A+ID and MARC-1ID ratings on KNM Group Berhad’s (KNM Group) RM1.1 billion Islamic Medium Term Notes (IMTN) programme and RM400 million Islamic Commercial Papers (ICP) programme (collectively referred to as the Sukuk programme) from MARCWatch Negative and withdrawn the ratings. This action follows the lapse of the Securities Commission’s approval to extend the propo...
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Today MARC placed its short term and long term debt ratings of MARC-1ID and A+ID ratings on the KNM Group Berhad (KNM Group or KNM) and KNM Capital Sdn Bhd (KNM Capital) on MARCWatch Negative to highlight event risk concerns arising from the winding up petition that was recently served on KNM Group's material subsidiary, KNM Process Systems Sdn Bhd (KNM Process). KNM Process is defined as a materi...
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MARC has affirmed the following long-term ratings on Special Coral Sdn Bhd’s (Special Coral) RM300 million Senior Class and RM800 million Subordinated Class Medium Term Notes (MTNs) under its RM1.1 billion MTN Programme:Programme sizeIssued amountRatingOutlookSenior Class MTNs1.Class ARM160 millionRM160 millionAAAStable2.Class BRM40 millionRM40 millionAAStable3.Class CRM35 million-ASta...
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MARC has assigned MARC-1IS/AAAIS preliminary ratings to PETRONAS Dagangan Berhad’s (PDB) proposed issuance of up to RM2.0 billion Islamic Commercial Papers (ICP) and Islamic Medium Term Notes Programme (IMTN) (collectively Sukuk Murabahah Programme) with a stable outlook. The ratings are equalised with MARC’s public information ratings on Petroliam Nasional Berhad’s (PETRONAS) AA...
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MARC has affirmed its ratings of AA+IS on both Westports Malaysia Sdn Bhd’s (Westports) sukuk issuances comprising Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium Term Notes (MTN) Programme of up to RM800 million. The outlook on both ratings is stable. The affirmed ratings take into account Westports’ competitive position as a leading port operator...
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MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme to BBB-ID from A-ID. Concurrently, MARC has placed the rating on MARCWatch Negative. The rating actions affect RM110.0 million of current outstanding notes. The rating downgrade reflects the steelmaker’s weak financial risk profile arising from the prolonged cha...
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MARC has placed its ratings of MARC-2ID/A-ID and A-ID on Kinsteel Berhad’s (Kinsteel) RM100.0 million Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) and RM100.0 million Murabahah Medium Term Notes (MTN) Programme respectively on MARCWatch Negative. The rating action reflects MARC’s concerns on the group’s weak operating performance which would exert pressure on ...
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MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) Commercial Paper/ Medium Term Notes Programme (CP/MTN) with a stable outlook. The affirmed ratings reflect IJM’s moderate consolidated business risk profile which is underpinned by its good business diversity and adequate market positions in the five sectors in which the group is active: construction, property, ...
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MARC has withdrawn its B rating on Dutaland Berhad’s outstanding RM10.6 million 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 2233/...
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