MARC has withdrawn its A-ID rating on Glomac Berhad’s (Glomac) RM60.0 million Junior Bai Bithaman Ajil Islamic Bonds with immediate effect, following the full redemption and cancellation of the facility, as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad. MARC continues to maintain MARC-2ID/A-ID ratings on Glomac’s outstanding RM25 million Murabahah Notes Issuance F...

MARC has withdrawn its MARC-2/ A ratings on Priceworth Wood Products Berhad’s RM160 million Commercial Papers/ Medium-Term Notes Programme (Facility) with immediate effect, following confirmation from the facility agent, RHB Investment Bank Berhad, of an early cancellation of the Facility on April 10, 2009, ahead of its original maturity date on May 11, 2012.Contacts: Hafizan Haron, 03-2090 ...

MARC has affirmed its AA-IS, MARC-1ID / AA-ID, AA-ID and MARC-1ID / AA-ID ratings on WCT Berhad’s (WCT) RM300 million Redeemable Sukuk with Warrants, RM300 million Islamic Commercial Papers / Medium Term Notes, RM100 million Islamic Fixed Rate Serial Bonds and RM100 million Islamic Commercial Papers / Medium Term Notes Programme, respectively. At the same time, all ratings were removed from ...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AA+ as well as its ratings on TNB’s Islamic debt facilities which are as follows:• RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility rated AA+ID;• RM2.0 billion Al-Bai’ Bithaman Ajil Bonds rated AA+ID; and• RM1.5 billion Murabahah Commercial Papers and Murabahah Medium ...

MARC has affirmed its AAIS rating on Diversified Venue Sdn Bhd’s (DVSB) RM200 million Sukuk Al-Ijarah Master Programme (Sukuk). The rating outlook is stable. DVSB, a funding special purpose vehicle wholly-owned by First Impact Sdn Bhd (FISB), acquired a beneficial ownership in the land and building for the construction of Mercu UEM, UEM Group Corporate Headquarters from FISB via the Sukuk pr...

MARC has affirmed the AA+IS rating of port operator Westports Malaysia Sdn Bhd’s (Westports) RM800.0 million Sukuk Musyarakah Medium Term Notes (Sukuk Musyarakah MTN) and maintained the stable rating outlook. The affirmed rating is based on the company’s strong operational efficiency, sound financial profile reflected in its low gearing and strong liquidity position, and solid sponsors...

MARC has lowered its rating on Ingress Sukuk Berhad’s (ISB) RM160 million Sukuk Al Ijarah (Sukuk) to BB-IS from BBB-IS. The lowered rating remains on MARCWatch Negative. ISB is a wholly-owned funding vehicle of auto parts manufacturer, Ingress Corporation Berhad (Ingress). Since MARC’s downgrade of ISB’s sukuk rating on March 31, 2009, ISB has failed to make a RM25 million paymen...

MARC has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd’s (TPC) asset-backed RM180.0 million Class A and   RM30.0  million  Class  B   Sukuk  Ijarah,   respectively with a stable outlook. The affirmed ratings of the Class A and Class B Sukuk Ijarah reflect the satisfactory performance of the securitised plantati...

MARC has withdrawn its BB rating on Bintang Bulk Mover Sdn Bhd’s RM50 Million Bonds with immediate effect, upon completion of the restructuring of the bonds as confirmed by its facility agent, KAF Investment Bank Berhad. The bonds have now been converted into non-transferable/non-tradable bonds and no longer require a rating. Contacts: Hafizan Haron 03-2090 2238/ hafizan@marc.com.my; Lee Mei...

MARC has affirmed its stand alone ratings on Mulpha International Berhad’s (MIB) RM25.0 million Murabahah Commercial Paper/Medium Term Notes (CP/MTN) facility at MARC-1ID/AID and its supported MARC-1ID(bg)/AA-ID(bg) ratings on MIB’s RM75.0 million Bank Guaranteed (BG) Murabahah Notes Issuance Facility (MUNIF). The affirmed BG ratings reflect the lower of the financial institution ratin...