MARC has withdrawn its MARC-1ID/AA-ID ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM100 million Murabahah Commercial Paper/Medium Term Notes (Murabahah CP/MTN) programme with immediate effect following the full redemption of the outstanding RM90 million Murabahah CPs and the expiration of the seven-year facility programme on November 28, 2012. MARC’s analytical coverage on Bayu Padu is ...

MARC has affirmed its AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM120 million Istisna’ Serial Bonds with a stable outlook. The affirmed rating is underpinned by MARC’s AAA/stable public information rating on Sarawak state, which through the State Financial Secretary (SFS), a body corporate established under the State Financi...

MARC has assigned final ratings of AAA(bg) and AAA(fg) to Premier Merchandise Sdn Bhd’s (PMSB) issuance of up to RM300 million 7-year Medium-term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively. The outlook on the ratings is stable. The programmes are guaranteed irrevocably and unconditionally by Malayan Banking Berhad for Tranche 1 and Danaj...

MARC has assigned preliminary ratings to Premier Merchandise Sdn Bhd’s (PMSB) issuance of up to RM300 million 7-year Medium-Term Notes (MTN) (Tranche 1) of AAA(bg) and RM300 million 10-year MTN (Tranche 2) of AAA(fg). The outlook for both ratings is stable. The assigned ratings reflect the credit strength of the unconditional and irrevocable guarantees provided by Malayan Banking Berhad (May...

MARC has withdrawn its ratings of MARC-1/A+ on Radicare (M) Sdn Bhd’s RM100 million CP/MTN Programme. The rating withdrawal follows the early redemption of the outstanding notes on August 30, 2012 and cancellation of the facility on November 28, 2012 as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad.Contact: Nisha Fernandez. +603-2082 2269/ nisha@marc.com.my...

MARC has assigned a final rating of AA-IS with a stable outlook to Weststar Capital Sdn Bhd’s (Weststar Capital) RM900.0 million Sukuk Mudharabah Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the Sukuk Mudharabah Programme remain substantially unchanged from the draft documents on which the earlier preliminary rating of AA-IS was ...

MARC has affirmed the rating of Olympia Industries Berhad’s (Olympia) outstanding RM12,061,406 nominal value Redeemable Unsecured Loan Stocks (RULS) at B+ with a stable outlook. The rating incorporates the slow progress of the group’s sole property project, the 73-acre Kenny Heights Development (KHD) in Sri Hartamas in Kuala Lumpur, its weak financial performance and strained liquidity...

MARC has withdrawn its A- rating on Perdana Petroleum Bhd’s (PPB) RM400 million Nominal Value Secured Serial Bonds (bonds) with immediate effect. The rating withdrawal follows the early redemption of RM70 million of outstanding bonds on September 7, 2012 as confirmed by the facility agent, United Overseas Bank (Malaysia) Berhad.Upon the withdrawal of the rating, MARC will no longer carry out...

MARC has affirmed its rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium-Term Notes Programme of A+IS(CG) and revised its rating outlook to negative from stable.KMCOB is the funding vehicle of the Scomi Oilfield Limited (SOL) group. The sukuk benefits from corporate guarantee from Scomi Oiltools Bermuda Limited (Scomi Oiltools), the present immediate holding company of Sc...

MARC has assigned a preliminary rating of AA-IS with a stable outlook to Weststar Capital Sdn Bhd's (Weststar Capital) proposed RM900 million Sukuk Mudharabah Programme. Weststar Capital is a special purpose entity wholly owned by Weststar Aviation Services Sdn Bhd (Weststar) that serves as the funding vehicle for the offshore aviation services provider.Proceeds from the notes will be used largely...