MARC has affirmed its AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) RM425 million Istisna’ Serial Bonds. The rating carries a stable outlook. The issuer is a 100%-owned subsidiary of SSHMC Holdings and Management Sdn Bhd (SSHMC Holdings), which in turn is wholly-owned by the State Financial Secretary (SFS). The rating reflects the SFS’ irre...

MARC has assigned a final rating of A+IS(cg) with a stable outlook to KMCOB Capital Berhad's (KMCOB) RM343.1 million Sukuk Murabahah Programme upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of A+IS(cg) was based.Full details on the...

MARC has assigned a preliminary rating of A+IS(cg) to KMCOB Capital Berhad's (KMCOB) proposed RM343.1 million Sukuk Murabahah Medium-Term Notes programme (sukuk) with a stable outlook pending final documentation review. The proposed facility has the benefit of corporate guarantees from Scomi Oiltools and its existing and future principal subsidiaries and the listed entity that may be incorporated ...

MARC has assigned a final rating of AA-IS with a stable outlook to DRB-HICOM Berhad’s RM1,800 million Islamic Medium-Term Notes Programme upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of AA-IS was based. Full details on the ...

MARC has affirmed its rating of A- on Perdana Petroleum Berhad's (Perdana Petroleum, formerly known as Petra Perdana Berhad) Dual Currency Revolving Programme with a negative outlook. The rating action affects outstanding secured serial bonds of RM105 million issued under Tranche 1 of the programme.The bonds are the company's remaining obligations under the programme with the November 2011 repayme...

MARC has assigned a preliminary rating of AA-IS to DRB-HICOM Berhad's (DRB-HICOM) proposed RM1.8 billion Islamic Medium-Term Notes Programme with a stable outlook pending final documentation review.The structure for the issuance of sukuk under the rated programme is based on the Shariah principle of murabahah. In the first leg of the murabahah transaction, DRB-HICOM will purchase Shariah-compliant...

MARC has removed its MARC-1/A+ ratings on Radicare Sdn Bhd’s RM100 million CP/MTN facility from MARCWatch Negative following a six-month extension of its hospital support services concession which expired on October 28, 2011. The recent extension has alleviated near-term downward pressure on the company’s debt rating. Radicare’s issue ratings are affirmed at MARC-1/A+ with a nega...

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 ...

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...

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...