MARC said today that there is no immediate pressure on the ratings assigned to the Selangor water sector-related issuers following the establishment of a new state government and the recent announcements made by the new administration in respect of the water sector.  This announcement is issued in respect of the following ratings:Syarikat Bekalan Air Selangor Sdn Bhd’s RM3.0 billion Bai...

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. The Sukuk programme is a structured transaction involving DVSB acquiring the beneficial ownership in the land and building designated as the UEM Group Berhad (UEM Group) Headquarters’ Building (the Building) from First Impact Sdn ...

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 AAA/MARC-1 respectively. The ratings carry a stable outlook. FZCB is a wholly owned subsidiary of Kuala Dimensi Sdn Bhd (KDSB), incorporated solely for the purpose of issuing the fixed rate serial ...

MARC has affirmed the ratings of MARC-2ID/A- ID on Oilcorp Berhad’s (Oilcorp or the Group) RM70.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes Facility (MUNIF/IMTN). The outlook on the ratings is stable. The affirmed ratings reflect the Group’s average business profile underscored by its continuous dependence on the oil and gas sector which saw its o...

MARC has reaffirmed the AAA rating of Gerbang Perdana CIQ Sdn Bhd’s (Gerbang Perdana CIQ) RM1.7 billion Seven Year Medium-Term Notes (MTN) Programme. The rating carries a stable outlook. The rating reflects the credit quality of receivables from the Government of Malaysia (GOM) in respect of Facility Payment Certificates (FPCs) issued in connection with the construction of an Integrated Cust...

MARC is issuing this rating update in connection with its MARC-2ID /A-ID ratings on HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes. Following MARC’s affirmation of the ratings on 14 November 2007 and revision of its ratings outlook to developing from stable, HIB was not able to restore its debt leverage and liquidity measures by end-Janu...

MARC has affirmed the A rating of Berjaya Land Berhad’s (BLand) five-year Secured Exchangeable Bonds (EB) with nominal value of up to RM900 million which are exchangeable into shares of leading domestic Numbers Forecast Operator (NFO), Berjaya Sports Toto Berhad (BToto). The rating outlook is stable. The rating on the EB reflects the resilient financial performance of BToto, the collateral c...

M-Trex Corporation Sdn Bhd’s (M-Trex) MARC-3ID rating for its RM60.0 million Islamic Commercial Paper Programme (ICPs) remains on MARCWatch Negative where it had been placed since September 14, 2007 following a delay in the completion of its proposed refinancing of the ICPs.The rating was first placed on MARCWatch Negative on September 14, 2007 due to M-Trex’s slow progress in resolvin...

MARC has assigned the rating of AA- IS to independent power producer, Stratavest Sdn Bhd’s (Stratavest) RM120.0 million Nominal Value Sukuk Ijarah (Sukuk Ijarah). Stratavest operates a 60MW diesel fired power plant (Libaran Power Plant) in Sandakan, Sabah. Proceeds from the issuance of the Sukuk Ijarah will be utilised largely to finance the purchase and/or early redemption of Stratavest&rsq...

MARC has reaffirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium-Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The reaffirmed ratings reflect the low defaults and delinquencies of the receivables backing the notes; and ample cash balances in the designated accounts ...