MARC has reaffirmed the long term rating of Sapura Energy Sdn Bhd’s (“SESB” or “the Group”) RM140 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating carries a stable outlook. The reaffirmed rating reflects SESB’s moderate business profile as an oil and gas service provider with sustained operating track record evidenced by its...

The ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million CP programme have been reaffirmed at A and MARC-2, respectively. The reaffirmed ratings reflect the low average monthly delinquency and default rates of the consumer receivables and loans portfolios backing the bonds and CPs; and ample cash balances in the designated accounts to meet n...

MARC continues to maintain 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) on MARCWatch Developing where they were placed since December 10, 2007. The rating action follows slower than anticipated progress on EKIB’s acquisition of a 51% ...

MARC has assigned a AA rating to CIMB Bank Berhad’s (CIMB Bank) proposed issuance of up to RM1.5 billion subordinated bonds. This rating is one notch lower than its Financial Institution rating which has been upgraded to AA+ from AA, reflecting its junior position relative to deposits and senior debt.MARC has also upgraded its rating on CIMB Bank’s RM667 million Irredeemable Convertibl...

MARC has affirmed its ratings on 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. The Class A Notes are rated MARC-1/AAA; the Class B Notes are rated MARC-1/AA; and the Class C Notes are rated MARC-1/A. The affirmed ratings reflect the stable loan-to...

MARC has reaffirmed the ratings of Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS. The negative outlook on the ratings has been maintained. The affirmed ratings reflect SACOFA’s exclusive rights in developing, owning and managing telecommunicat...

MARC has reaffirmed the ratings of Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS. The negative outlook on the ratings has been maintained. The affirmed ratings reflect SACOFA’s exclusive rights in developing, owning and managing telecommunicat...

MARC has downgraded Intelbest Corporation Sdn Bhd’s (ICSB) RM110.0 million Bai Bithaman Ajil Bonds (BaIDS) and RM50.0 million Murabahah Notes Issuance Facility (MUNIF) (collectively known as Islamic Debt Facilities) ratings to D from B+ID/MARC-4ID as a result of a missed profit payment for the BaIDS on February 28, 2008. ICSB is principally an investment holding company and property develope...

MARC has withdrawn its AAA rating assigned to Auto ABS’s RM125.0 million Class A(3) bonds with immediate effect following confirmation from the trustee that Class A(3) bonds have been fully redeemed on 28th February 2008....

MARC has assigned a corporate credit rating (CCR) of AAA to UMW Holdings Berhad (UMW or the Group). The CCR of AAA indicates UMW’s very strong intrinsic ability and overall capacity for timely repayment of its financial obligations. UMW is one of the country’s leading industrial group that has significant market share in the domestic automotive sector through 51% owned UMW Toyota Motor...