MARC has placed the BBB+ID/MARC-3ID ratings of Evermaster Group Berhad’s (“EGB” or “the Group”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) on MARCWatch Negative following the Group’s failure to meet the RM7.5 million sinking fund payment...

MARC continues to maintain Englotechs Holding Bhd’s (Englotechs) BBB-ID  rating in respect of its RM50.0 million Murabahah Medium-Term Notes Programme (MMTN) on MARCWatch Negative where it had been placed on April 1, 2008. The extended MARCWatch Negative reflects continued uncertainty over the Company’s ability to restore its Finance Service Reserve Account (FSRA) balance to the m...

MARC has assigned long term and short term financial institution ratings of AA+/MARC-1 to Kuwait Finance House (Malaysia) Berhad (KFHMB). The ratings carry a stable outlook. The ratings of KFHMB are anchored to MARC’s AAA/MARC-1 financial institution ratings on Kuwait Finance House KSC (KFH) on the basis of an explicit intent of support extended to KFHMB by KFH. KFH’s ratings reflect i...

MARC has reaffirmed the AAA and MARC-1/AAA ratings of Valid Ventures Berhad’s (VVB) RM510.0 million fixed rate serial bonds (bonds) and up to RM85.0 million Commercial Paper/Medium Term Notes (CP/MTN) Programme, respectively. The ratings carry a stable outlook. The rating reflects the Government of Malaysia’s (GOM) demonstrated willingness and capacity to support the deferred payment o...

MARC has reaffirmed its AID/MARC-2ID ratings on Emas Kiara Industries Bhd’s (EKIB) RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN). The outlook is Stable. The ratings reflect EKIB’s leading position in the domestic geosynthetic market and its enhanced operational efficiency and cost savings derived from pl...

Vast Winners Sdn Bhd (VWSB) is a bankruptcy remote special purpose vehicle established for the purpose of issuing up to RM650.0 million Medium-Term Notes (MTNs). The proceeds of the issuance will be used to finance the purchase of 510,418 sq ft of strata floor area within shopping centre, Sungei Wang Plaza (SWP or property), together with 1,310 parking bays and rights under all tenancy agreements ...

MARC has affirmed its AAID long-term rating on MTD InfraPerdana Bhd’s (MTD InfraPerdana) RM700.0 million Islamic Medium-Term Notes (IMTN) programme. The rating reflects MTD InfraPerdana's strong operating profitability, underscored by the sustained traffic flows on the established and matured toll highways operated by wholly-owned subsidiaries, MTD Prime Sdn Bhd (MTD Prime) and Metramac Corp...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed Sukuk Musyarakah issuance of RM2,110.0 million (CMBS 2007-1-i) at AAAIS. The rating reflects the satisfactory performance of the collateral pool, in particular its low cumulative default rate and slightly lower than projected prepayment rate which has resulted in a modest increase in credit enhanceme...

MARC has affirmed the ratings of MARC-1(bg)/AAA(bg) and MARC-1(bg)/ AA+(bg) for Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper / Medium-Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN, respectively. The ratings are underpinned by the irrevocable guarantees provided by Malayan Banking Berhad (Maybank) and United Overseas Bank (Malaysia) Bhd (UOBM), respectively....

MARC has removed M-Trex Corporation Sdn Bhd’s (M-Trex) MARC-3ID rating  on its Islamic Commercial Paper Programme (ICP) from MARCWatch Negative and affirmed the MARC-3ID  rating with a negative outlook. The negative outlook primarily reflects increased refinancing risk associated with the company’s proposed refinancing of the ICP, which was earlier targeted for completion bef...