MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) Islamic debt at AID  and revised the outlook to positive from stable. The rating affirmation reflects the strong recovery of Antara’s HBI operations in Labuan, which contributed substantially to the group’s bottom line following the setback from a prolonged unplanned plant shutdown in 2006. The positive ou...

MARC has issued this rating update in relation to KNM Group Bhd’s (KNM Group) announcement on a proposed rights issue and foreign currency exchangeable bonds issue which are earmarked for KNM Group’s potential future acquisitions and working capital. In addition to the above, MARC also notes a proposed bonus issue exercise. MARC is of the opinion that there is no immediate impact on th...

MARC has issued this rating update in connection with Kinsteel Berhad’s (Kinsteel) announcement on the proposed listing of Perwaja Steel Sdn Bhd (Perwaja). MARC is of the opinion that there is no immediate impact on the MARC-2ID / AID and the AID ratings of Kinsteel’s RM100.0 million Murabahah Commercial Paper / Medium Term Notes Programme (Murabahah CP/ MTN) and RM100.0 million Muraba...

MARC has issued this rating update in connection with Kinsteel Berhad’s (Kinsteel) announcement on the proposed listing of Perwaja Steel Sdn Bhd (Perwaja). MARC is of the opinion that there is no immediate impact on the MARC-2ID / AID and the AID ratings of Kinsteel’s RM100.0 million Murabahah Commercial Paper / Medium Term Notes Programme (Murabahah CP/ MTN) and RM100.0 million Muraba...

MARC has reaffirmed the AAAID(s) ratings of Optimal Glycols (Malaysia) Sdn Bhd’s (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) RM453 million and RM567 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) respectively. The ratings carry stable outlook. The ratings assigned to the Glycols’ and Chemicals’ issues reflect credi...

MARC has reaffirmed its AAAID ratings on Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) RM250 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is stable. The rating reflects Olefins’ strong ownership structure, its secured feedstock source and favourable feedstock price structure from Petroliam Nasional Berhad (‘Petronas’) until...

MARC has removed its MARC-2/A ratings on Axis Incorporation Berhad’s (Axis) RM100.0 million Commercial Papers/Medium Term Notes Programme (CP/MTN) from MARCWatch Developing and withdrawn the ratings with immediate effect. The rating actions follow written confirmation from RHB Investment Bank Berhad of the full redemption and cancellation of the facility today, 22 January 2008.The ratings ha...

MARC has reaffirmed the MARC-2ID /AID short-term and long-term ratings respectively of second-tier automation and material handling solution provider, Malaysian AE Models Holdings Berhad’s (MAE) RM200 Million Islamic Commercial Paper/Islamic Medium-Term Notes (ICP/IMTN) programme. The ratings carry a developing outlook. The reaffirmed ratings reflect MAE’s strong operating performance,...

MARC has reaffirmed its MARC-2/AID ratings of Maxtral Industry Berhad (Maxtral or the Group) on its RM80 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes/ Murabahah Medium-Term Notes (MUNIF/MMTN) facilities. The ratings carry a stable outlook. The affirmation reflects Maxtral’s satisfactory operating performance, moderate debt leverag...

MARC has reaffirmed its MARC-2ID / AID ratings on Premium Nutrients Berhad’s (“PNB”) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The ratings reflect PNB’s good business position as a specialty and non-specialty fats manufacturer with a broad product range and geographically diversifi...