MARC has reaffirmed the A+ long term rating of PNHB’s RM546.875 million Redeemable Unconvertible Junior Notes (“RUN”) with detachable warrants. The rating outlook is stable. The RUN are rated the same as its subsidiary, Puncak Niaga (M) Sdn Bhd’s (“PNSB”) Junior Notes A (“A Notes”) which are secured on a back-to-back basis against PNSB’s RM546....

Under this Ijarah transaction, DRIR Management Sdn. Bhd. (DRIRM), will issue RM180.0 million Class A and RM160.0 million Class B Sukuk Ijarah Medium-Term Notes (MTN) under a Sukuk Ijarah MTN Programme of up to RM850.0 million, the proceeds of which will be used to acquire 12 helicopters from its related company, MHS Aviation Berhad (MHSA) and refinance borrowings previously taken to acquire four h...

MARC has reaffirmed the rating of AA- ID of Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS). MARC also reaffirmed the MARC-1 and AA- (bg) ratings of its RM125 million Revolving Underwritten Facility (RUF) and RM365 million Bank Guaranteed Serial Fixed Rate bonds (BG Bonds) respectively. The ratings outlook is stable. The...

MARC has withdrawn the A+ ID rating assigned to MHS Aviation Berhad’s RM140 million Al-Bai Bithaman Ajil Junior Notes with immediate effect following the full redemption of the notes on December 27, 2007 as confirmed by the facility agent, United Overseas Bank (Malaysia) Berhad....

MARC has lowered its rating on Ingress Sukuk Berhad’s (ISB) RM160 million Sukuk Al Ijarah Issuance to AIS from A+ IS, and removed it from MARCWatch Developing. The outlook for the rating is stable. The downgraded rating reflects Ingress Corporation Berhad’s (“Ingress” or “the Group”) deteriorating profitability and the breach of its debt-to-equity covenant, resu...

MARC has upgraded its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL). The following ratings are affected: (1) WCT’s rating on its RM100 million Islamic Fixed Rate Serial Bonds has been upgraded to AA- ID from A+ ID, and its ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme have been upgraded to AA- ID/MARC-1 ID from A+ ID/...

MARC has upgraded its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL). The following ratings are affected: (1) WCT’s rating on its RM100 million Islamic Fixed Rate Serial Bonds has been upgraded to AA- ID from A+ ID, and its ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme have been upgraded to AA- ID/MARC-1 ID from A+ ID/...

MARC has revised its outlook on Westports Malaysia Sdn Bhd’s (Westports) AA rating of its RM350 million Floating Rate Notes to positive from stable.   The outlook revision reflects Westport’s improving financial profile. Westports posted  RM753.0 million revenue for the first 11 months of FY07, up 10.5% from the corresponding period in FY06 in line with the higher cargo ...

MARC has reaffirmed its A- rating of Bintang Bulk Mover Sdn Bhd (BBM or the Group) with respect to its RM50 million 5-year secured serial bonds. The rating outlook is stable. The reaffirmed rating reflects BBM’s growing revenue base supported by cement transportation and container haulage businesses and its venture into complementary businesses such as warehousing. Moderating factors include...

MARC has revised its rating outlook on its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL) to positive from stable. The following ratings are affected: (1) WCT’s A+ID rating on its RM100 million Islamic Fixed Rate Serial Bonds and its A+ID/MARC-1ID ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme, and (2) WCTL’s A+(c...