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MARC has placed its A+ID rating on ARL Power Sdn Bhd’s (ARLP) RM177 million Al Bai’ Bithaman Ajil Secured Serial (ABBA) Bonds and RM50 million Islamic Medium Term Notes (IMTN) on MARCWatch Developing. The rating action follows an early redemption of outstanding ABBA bonds and IMTNs by the issuer. MARC has received confirmation from Malaysian Trustees Berhad (the trustee) on receipt of ...
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MARC has affirmed its AAAID and MARC-1ID/AAAID ratings on MISC Berhad’s (MISC) RM2.5 billion Islamic Medium Term Notes Programme (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) respectively. The stable outlook on the ratings has been maintained. The affirmed ratings reflect MISC’s strong position and long track record in the energy transportati...
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MARC has affirmed its rating of A on Handal Offshore Services Sdn Bhd’s (Handal) RM50.0 million Medium Term Notes Programme (MTN). The rating outlook has been revised to positive from stable. The affirmation of the rating is premised on greater earnings visibility from the company’s lifting solutions for workover projects division, which commenced operation in 2006 and the stable contr...
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MARC has affirmed the ratings of Cellular Structures Sdn Bhd’s (CSSB) RM184.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Facility (Senior Notes) at MARC-1ID /AAID. The ratings reflect the credit strength of the telecommunication operators (telcos) which are contractually obligated to make fixed monthly rental payments for the towers over a p...
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MARC has affirmed the ratings of special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Facility (Senior Notes) at MARC-1ID/AAID. The ratings reflect the credit strength of the telecommunication operators (telcos) as the source of repayment for the notes backed by a 10-year l...
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MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms) RM100 million Series A, RM90 million Series B and RM10 million Series C Sukuk Ijarah at AAAIS, AAIS and AIS respectively. The ratings carry a stable outlook. The affirmed ratings of the Series A and Series B Sukuk reflect the strong performance of the securitised estates, augmented by strong fresh fruit bunches (FFBs) prices ...
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MARC has affirmed the ratings of 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 outlook on the ratings is stable. The ratings reflect the credit quality of the rental payment stream from cr...
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MARC has affirmed the ratings of special purpose company Serrisa Sinar Berhad’s (Serrisa Sinar) RM200 million ICP/IMTN notes (Senior Notes) and RM20 million Junior IMTN (Junior Notes) at MARC-1ID/AAID and A+ID respectively. The outlook on the ratings is stable. The ratings reflect the credit quality of the rental payment stream from creditworthy telecommunication companies as the source of r...
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MARC has voluntarily withdrawn Haisan Resources Bhd's (Haisan) rating on the basis that the rating agency is no longer in a position to conduct a meaningful surveillance of the bonds. We have reason to believe that we will not receive the requisite cooperation from the issuer to provide continued independent rating coverage. MARC has been informed that Haisan has obtained the approval from its bon...
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MARC has affirmed the ratings of MARC-1(bg) /AAA(bg) on Tranche A and MARC-1(bg) /AA+(bg) on Tranche B of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper/ Medium Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN Programme respectively. The ratings on Tranche A reflect MARC’s AAA/MARC-1 public information financial institution ratings on Malayan Banking Berha...
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