MARC has assigned preliminary ratings of MARC-1IS /AA-IS to UEM Land Holdings Berhad’s (ULHB) proposed Islamic Commercial Paper (ICP) Programme and Islamic Medium Term Notes (IMTN) Programme with a combined nominal value of RM2.0 billion and a sub-limit on the ICP Programme of RM500 million in nominal value. The rating outlook is stable. The ratings reflect ULHB’s position as a strateg...

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 assigned a final rating of AAAIS(fg) with a stable outlook to Bolton Berhad’s (Bolton) RM230 million Islamic Medium Term Notes (IMTN) Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the IMTN Programme have not changed in any material way from the draft documents on which the earlier preliminary rating of AAAIS(fg) was based...

MARC has withdrawn all of Transshipment Megahub Berhad’s (TMB) debt ratings with immediate effect following the repayment of its outstanding bonds and notes amounting to RM599.7 million on November 2, 2012 and cancellation of its RM360 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The following ratings of TMB were withdrawn:AAA rating on RM1,095.0 million fixed rate serial ...

MARC has affirmed the short-term and long-term ratings at MARC-1ID and A+ID and revised the outlook of the ratings to negative from developing for the following rated programmes/issuers:RM300.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/Islamic Medium Term Notes (IMTN) Programme of KNM Capital Sdn Bhd (KNM Capital);RM400.0 million Islamic Commercial Paper (ICP) Programme of KNM...

MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating derives from intermediate and ultimate holding company Putrajaya Holdings Sdn Bhd’s (PJH) and Petroliam Nasional Berhad’s (PETRONAS) continued su...

MARC has affirmed the 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 is aligned to MARC’s public information rating on the Sarawak state government (SSG) on the basis of its statutory body status as well as a letter of support provided by the SSG for the BaIDS and demonstrat...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution ratings of AA+/MARC-1, following the rating agency’s affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. (KFH) at AAA/MARC-1. The outlook on the ratings of both institutions is stable. The long-term rating of KFHMB ...

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 affirmed its B rating on DutaLand Berhad’s (DutaLand) outstanding RM13,121,392 Redeemable Unsecured Loan Stocks (RULS) with a stable outlook. The rating action reflects DutaLand’s weak business profile that is characterised by inconsistent performance of its property and plantation divisions and the group’s continued reliance on asset disposals to generate liquidity to m...