MARC has affirmed its ratings on MARC-1/AAA, MARC-1/AA and MARC-1/A to Gandalf Capital Sdn. Bhd.’s (Gandalf Capital) RM118.0 million CPs/MTNs (the Notes) comprising RM87.0 million Class A Notes, RM16.0 million Class B Notes  and RM15.0 million  Class C Notes, respectively. The ratings carry a stable outlook. The affirmed ratings and stable outlook are premised on the low loan-to-va...

MARC has affirmed its AA- and AA-ID(cg) ratings on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and KMCOB Capital Berhad’s (KMCOB Capital) RM630.0 million Murabahah Medium Term Notes (MMTN) facility, respectively. At the same time, MARC has revised the outlook on both ratings to negative from stable. Scomi is primarily involved in the provision of oil and g...

MARC has affirmed its AA- and AA-ID(cg) ratings on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and KMCOB Capital Berhad’s (KMCOB Capital) RM630.0 million Murabahah Medium Term Notes (MMTN) facility, respectively. At the same time, MARC has revised the outlook on both ratings to negative from stable. Scomi is primarily involved in the provision of oil and g...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM2,060.0 million (CMBS 2005-2). The rating carries a stable outlook. The affirmed rating and stable outlook reflect the satisfactory performance of the securitised mortgage portfolio to date, particularly its lower-than-expected delinquency and cumulative default rates. As of Decem...

MARC has affirmed the ratings of MARC-1/AAA and MARC-1/AA on the RM125.0 million Senior Class A Notes and RM50.0 million Senior Class B Notes (Senior Notes) of the special purpose vehicle, Mutual Streams Sdn Bhd’s (MSSB) RM650 million Commercial Papers/Medium Term Notes (CP/MTN) programme. The ratings carry a stable outlook. The affirmation and stable outlook reflect the performance of the c...

MARC has placed its AID ratings on Antara Steel Mills Sdn Bhd’s (Antara) RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (BAIDS) Programme on MARCWatch Negative. The rating action follows recent confirmation from Antara that its Labuan-based Hot Briquetted Iron (HBI) plant had remained shut down since the completion of its scheduled maintenance in October 2008. The MARCWatch N...

MARC has affirmed its rating on SAJ Holdings Sdn Bhd’s (SAJH) RM1.28 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) at AA-ID. Concurrently, MARC has revised the rating outlook to developing from stable to reflect uncertainties with regards to the current industry restructuring which involves the take over of water assets by the federal government through Pengurusan Aset Air Berhad...

MARC has downgraded the rating of automotive parts supplier Tracoma Holdings Berhad’s (Tracoma) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to DID from CID. The rating action reflects Tracoma’s failure to redeem its first BaIDS series of RM50 million based on the original scheduled maturity on January 28, 2009, as confirmed by the BaIDS’ Trustee, Pac...

MARC has affirmed its AAAID ratings on Optimal Olefins (Malaysia) Sdn Bhd’s (Olefins) RM250.0 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is stable. The rating reflects Olefins’ ownership by Petroliam Nasional Berhad (Petronas) and The Dow Chemical Company (Dow) through its wholly-owned subsidiary, its secured feedstock source with favourable price ...

MARC has downgraded the rating of automotive parts supplier Tracoma Holdings Berhad’s (Tracoma) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to CID from BID to reflect our expectation that no payment will be made on its first BaIDS series of RM50 million maturing on January 28, 2009. Concurrently, we have placed the lowered rating on MARCWatch Negative. Since our...