MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuers  Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB)  RM1,310 million ABSBAAANegative2.Transshipment ...

MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:  NoIssuers  Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB)  RM1,310 million ABSBAAANegative2.Transsh...

MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuers  Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB)  RM1,310 million ABSBAAANegative2.Transshipment ...

MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuersIssues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB)RM1,310 million ABSBAAANegative2.Transshipment Megahub Berhad...

MARC has assigned a final rating of AAA(bg) to Boustead Holdings Berhad's (Boustead Holdings) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) Programme. The outlook on the rating is stable. The initial issuance proceeds of RM600.0 million under the BG MTN Programme would be backed by bank guarantees from Public Bank Berhad (PBB) for up to RM250.0 million, OCBC Bank (Malaysia) Berhad ...

MARC has lowered its debt rating on Petra Perdana Berhad's (Petra Perdana) RM800 million Dual Currency Revolving Facility to A- from A+ and removed the rating from MARCWatch Negative. The rating action affects RM175 million of outstanding secured serial bonds and RM25 million of medium-term notes issued under the facility. The downgrade reflects declining revenues, negative cash flows, a heavy deb...

MARC has assigned final ratings of AA+/AA+IS to CIMB Bank Berhad’s (CIMB Bank) proposed Tier 2 Subordinated Debt and Junior Sukuk Programme respectively with a combined nominal value of RM5.0 billion. The ratings are one notch lower than CIMB Bank’s affirmed long-term financial institution rating, reflecting its position relative to deposits and senior debt. Underpinning CIMB Bank&rsqu...

MARC has affirmed its ratings of MARC-2/A+ on retailer Asia Brands Corporation Berhad’s (Asia Brands) RM70 million Commercial Papers/ Medium Term Notes (CP/MTN Programme) with a stable outlook. Concurrently, MARC is withdrawing its rating on the facility following the full redemption of outstanding debt and cancellation of the CP/MTN Programme facility. The ratings and outlook are underpinne...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg), respectively. The outlook on the ratings is stable. ALB is a bankruptcy remote special purpose vehicle incorporated to facilitate the issuance of the Sukuk and the sale and leaseback of industri...

MARC has placed its MARC-2ID/AID ratings on Emas Kiara Industries Berhad's (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) on MARCWatch Developing. The MARCWatch placement follows EKIB's proposed divestment of its geosynthetic manufacturing business to Tencate Geosynthetics Asia Sdn Bhd,a subsidiary of Netherland...