MARC has placed 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 Programmes respectively on MARCWatch Negative. The rating action follows Du...

MARC has upgraded Atlan Holdings Bhd’s (Atlan) RM90.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) ratings to MARC-1ID /A+ID from MARC-2ID /AID. The rating outlook is stable. The ratings upgrade is premised on the overall improvement in the credit profile of the enlarged Atlan group following the acquisition of Naluri Corporation Berhad (Nalur...

MARC has placed the AAAID(s) ratings on Optimal Glycols (Malaysia) Sdn Bhd (Glycols) and Optimal Chemicals (Malaysia) Sdn Bhd’s (Chemicals) RM453.0 million and RM567.0 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) respectively on MARCWatch Negative. The rating action follows the Kuwaiti government's decision to pull out of a USD17.4 billion 50:50 petrochemicals joint venture with...

MARC has lowered the short- and long-term ratings on Evermaster Group Berhad’s (EGB) RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF) to DID from MARC-4ID and BB-ID respectively. The downgrades are based on EGB’s failure to meet the scheduled BaIDS redemption of RM15 million on December 30, 2008, a...

MARC has affirmed the short-term and long-term ratings of automotive parts manufacturer, EP Manufacturing Berhad’s (EPMB) of up to RM150 million and RM120 million Murabahah Notes Issuance Facilities/Islamic Medium-Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The affirmed ratings recognise EPMB’s defensible market position in the domestic auto-parts sector but high reliance on national carm...

MARC notes that Persoft Systems Sdn Bhd (PSSB) has rolled over its RM18 million CP issuance under its RM50 million commercial papers (CP) programme today, with the next maturity for the CPs falling on January 23, 2009. PSSB has informed MARC that it is currently in the midst of working out a repayment plan that will result in the full redemption of all of its outstanding CPs amounting to RM20 mill...

MARC has affirmed the rating of Free Zone Capital Berhad’s (FZCB) RM410.0 million fixed rate serial bonds and up to RM70.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA, respectively. The ratings carry a stable outlook. Wholly-owned by Kuala Dimensi Sdn Bhd (KDSB), FZCB was incorporated solely for the purpose of issuing the fixed rate serial bonds and C...

MARC affirms its AAAIS rating on IJN Capital Sdn Bhd’s (IJNC) outstanding RM100 million Sukuk out of RM209 million Sukuk Musyarakah programme. The rating reflects the group’s strong business profile as the leading and premier cardiac centre in Malaysia, its ownership by the Minister of Finance Incorporated (MOF) and robust liquidity profile. Moderating the rating is the regulated fee s...

MARC has affirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA, respectively. The ratings carry a stable outlook. TMB, a financing vehicle wholly-owned by the turnkey developer of Port Klang Free Zone (PKFZ), Kuala Dimensi Sdn Bhd (KDSB), was...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The rating carries a stable outlook. SPVB is a special purpose entity established with the sole purpose of issuing the asset-backed serial bonds, the proceeds of which were used to acquire future receivables amounting to RM1,699.63 million (includin...