MARC has upgraded the long term senior debt rating of Bumiputra-Commerce Holdings Berhad’s (BCHB) RM6.0 billion Conventional and Islamic CP/MTN Programme to AA and AAID from AA- and AA-ID whilst affirming its short term senior debt rating of MARC-1 and MARC-1ID. The upgrade recognises the continued earnings strength and robust internal capital generation of its banking operations, in particu...

MARC has removed 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) from MARCWatch Developing, placed since December 2007. This rating action follows EKIB’s announcement to Bursa Malaysia on 2 June 2008 that EKIB and vendors of Carimin Sdn ...

MARC has assigned a AAA rating to Woori Bank’s (Woori) RM1.0 billion Medium-Term Notes Programme (MTN). The rating carries a stable outlook. The rating reflects Woori’s above average competitive position, underpinned by its strong retail and corporate franchises in Korea and extensive network of branches, its solid asset quality and consistent financial performance, good capital base a...

MARC has revised its rating outlook on the MARC-1(cg)/AAA(cg) and MARC-1ID(cg)/AAAID(cg) ratings on Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Commercial Paper and Medium Term Notes (CP/MTN) Programme to Negative from Stable. Tesco Malaysia has issued RM700 million under the CP/MTN Programme as of todate. The ratings on Tesco Malaysia’s is...

MARC has withdrawn the AA- rating assigned to Bumiputra-Commerce Holdings Berhad’s (BCHB) RM250.0 million nominal value Redeemable Unsecured Bonds   with immediate effect following BCHB’s full redemption of the bonds on May 22, 2008....

MARC has assigned ratings of AAID/MARC-1ID and A+ID, respectively, to DHTI Capital Sdn. Bhd.’s (DCap) issuance of up to RM110.0 million of Islamic commercial papers/Islamic Medium-Term Notes (Senior Notes) and up to RM10.0 million Junior Islamic Medium-Term Notes (Junior Notes) (collectively, ICP/IMTN Programme). The ratings reflect the credit quality of a rental payment stream from creditwo...

Malaysian Rating Corporation Berhad (MARC), in conjunction with its 12th Annual General Meeting, announced an impressive 37% growth in pre-tax profit to RM11.76 million for the financial year ended 31 December 2007 from RM8.61 million in FY2006. The improved performance of MARC was fuelled by the brisk debt capital markets activity as reflected in the higher volume of bonds issuance as well as the...

MARC said today that there is no downward pressure on the AAAIS rating assigned to Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A pursuant to TIME Engineering Bhd (TIME) becoming an affected listed issuer as a result of the revised Practice Note No.17/2005 (PN17). TIME owns 100% of TIME Systems Integrators (TSI), the Originator under the up to R...

MARC has assigned the rating of AA-IS to Matang Highway Sdn Bhd’s (Matang) RM70.0 million Sukuk Musharakah (the Sukuk). The outlook for the rating is stable. Matang is a wholly-owned subsidiary of Zecon Berhad (Zecon), established with a single purpose to undertake the issuance of the Sukuk. The proceeds from the Sukuk will be utilized to refinance Zecon’s existing debts and to finance...

MARC has reaffirmed the ratings of AA-ID and MARC-1ID on Top Glove Corporation Bhd’s (Top Glove) RM100.0 million Islamic Medium-Term Notes (IMTN) Programme and RM100.0 million Islamic Commercial Papers (ICP) Programme. The ratings outlook is stable. The ratings are premised on Top Glove’s leading global market position and a strong financial profile that is underpinned by sustained gro...