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MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFHMB) long- and short-term financial institution ratings at AA+/MARC-1. The affirmation of KFHMB’s ratings follows the affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. at AAA/MARC-1. KFHMB is rated one notch below KFH to reflect the strategic importance of th...
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MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relation ...
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MARC has affirmed its rating on Sunrise Berhad’s RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins, large future expected billings from contracted sales (unbilled sales), fairly sizeable land bank to sustain developments...
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MARC has downgraded its ratings on Hytex Integrated Berhad’s (Hytex) RM100.0 Million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/IMTN) to MARC-4ID/B+ID from MARC-3ID / BBB-ID. Its rating outlook has been revised to negative from developing. The rating action follows Hytex’s partial deferment of an interest payment on a collateralised loan obligation...
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MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating outlook is revised to positive from stable. The affirmed rating and outlook revision incorporates Antara’s overall operating profile and recent financial performance which have supported improvements in its liquidity and debt se...
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MARC has assigned the ratings of MARC-1IS(fg)/AAAIS(fg) to LBS Bina Group Bhd’s (LBS-GB, or the Group) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN, or Sukuk) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in ...
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MARC has withdrawn its ‘CID‘ rating on Tracoma Holdings Berhad’s (Tracoma) proposed RM100 million Restructured Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) programme and reinstated its ‘DID‘ rating on Tracoma’s defaulted BaIDS. The rating agency notes that since the assignment of the preliminary rating to the restructured debt instrument in Novemb...
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MARC has assigned its MARC-1ID and AAAID ratings to Cagamas Berhad’s (Cagamas) new Islamic Commercial Papers Programme (CP) and Islamic Medium Term Notes Programme (MTN) with a combined aggregate limit of RM5.0 billion in nominal value. The outlook on the ratings is stable. Concurrently, MARC has affirmed its MARC-1/MARC-1ID and AAA/AAAID ratings on Cagamas’ existing RM20.0 billion Con...
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MARC has withdrawn its rating of MARC-1(bg) and AAA(bg) on Bluwater Developments Berhad’s RM47 million bank guaranteed commercial papers and RM 130 million bank guaranteed serial bonds respectively. The rating withdrawal follows the final redemption of its outstanding amount and cancellation of the facility on June 25, 2010, as confirmed by its lead arranger, Maybank Investment Bank Berhad.C...
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MARC has affirmed its financial institution rating on Bank Pembangunan Malaysia Berhad (BPMB) at AAA with a stable outlook. The rating reflects BPMB’s status as a wholly government-owned development financial institution (DFI), held through the Minister of Finance Incorporated (99.99%) and the Federal Lands Commissioner (0.01%). The rating also considers BPMB’s long track record of man...
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