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MARC has withdrawn its AID rating on Antara Steel Mill Sdn Bhd’s (Antara) BaIDS with immediate effect following the early redemption of all outstanding amounts as confirmed by the facility agent, AmInvestment Bank Berhad. With the full redemption of its BaIDS, MARC’s analytical coverage on Antara is limited to its RM300 million Guaranteed Islamic Securities (GIS) programme. Contacts: A...
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MARC HAS AFFIRMED ITS MARC-1ID/AAID AND A+ID RATINGS ON DHTI CAPITAL SDN BHD ISLAMIC DEBT PROGRAMMES
MARC has affirmed its ratings on special purpose company DHTI Capital Sdn Bhd’s (DHTI Capital) RM110 million Islamic Commercial Papers/Islamic Medium Term Notes (Senior Notes) and RM10 million Junior Islamic Medium Term Notes (Junior Notes) at MARC-1ID/AAID and A+ID respectively. The rating outlook is stable. The rating action affects RM28 million of outstanding notes issued under the progra...
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MARC has assigned the rating of AAA(fg) to TRIplc Ventures Sdn Bhd’s (TVSB) proposed issuance of up to RM240.0 million Senior Medium-Term Notes (MTN), with a stable outlook. The proceeds from the proposed MTN issuance will be used to partly fund a PFI/PPP (private finance initiative/public private partnership) project undertaken by TVSB. The project finance transaction is insulated from the ...
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MARC has withdrawn its AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds (serial bonds) as well as the rating agency’s AAA(s) rating on the company’s 13-year bonds (conventional bonds) with immediate effect following the early redemption of all outstanding amounts for both the issues as confirmed by the facility agent, Maybank Investmen...
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MARC has affirmed its long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The affirmed ratings are underpinned by the bank’s commendable earnings performance, prudent risk management and well- positioned franchise in fixed income securities trading. The outlook on the ratings is stable.KAF Investment is one of the largest inves...
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MARC has affirmed its AAA(bg) and MARC-1(bg) ratings on Mega Palm Sdn Bhd’s (Mega Palm) Bank Guaranteed Medium Term Notes (BG MTN) of up to RM70.0 million and Bank Guaranteed Commercial Papers (BG CP) of up to RM80.0 million respectively. The outlook for the ratings is stable. The rating action affects outstanding BG MTN of RM10.0 million and BG CP of RM46.8 million. The affirmed ratings and...
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MARC has taken the following actions on issue ratings of Scomi Group Berhad (Scomi) and funding vehicle KMCOB Capital Berhad (KMCOB) after removing the same from MARCWatch Negative: 1) Lowered its issue rating on Scomi's RM500 million Medium Term Notes (MTN) Programme to A+ from AA-; and 2) Lowered its issue rating on KMCOB's RM630 million Murabahah Medium Term ...
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MARC has taken the following actions on issue ratings of Scomi Group Berhad (Scomi) and funding vehicle KMCOB Capital Berhad (KMCOB) after removing the same from MARCWatch Negative: 1) Lowered its issue rating on Scomi's RM500 million Medium Term Notes (MTN) Programme to A+ from AA-; and 2) Lowered its issue rating on KMCOB's RM630 million Murabahah Medium Term Notes to A+I...
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MARC has lowered its rating on Dawama Sdn Bhd's (Dawama) RM120.0 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) to 'D' from 'CIS' to reflect the missed principal repayment of RM20.0 million on September 27, 2011. MARC understands from the trustee that no payment was made on the date. The RM20.0 million principal repayment had been rescheduled from April 27, 2011 after Senior S...
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MARC has withdrawn its AAIS rating on DRIR Management Sdn Bhd’s (DRIRM) Senior Class A Sukuk Ijarah Medium Term Notes (Sukuk) following the full redemption of the remaining outstanding RM40 million principal amount of Sukuk on June 28, 2011. MARC’s AA-IS rating on DRIRM’s RM160 million Class B Sukuk remains on MARCWatch Developing pending the completion of the proposed refinancin...
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