MARC has withdrawn the MARC-1ID /AAID rating assigned to Puncak Niaga (M) Sdn Bhd’s RM350.0 million MCP/MMTN with immediate effect, following confirmation by United Overseas Bank (Malaysia) Bhd, the Facility Agent, that the facility had expired on 11 October 2007. The facility had been fully redeemed in 2005, with no further utilization prior to its expiry....

This update on the performance of the Aegis One Berhad (Aegis One) collateral pool follows a single obligor rating downgrade to below BBB (lowest allowable rating) since MARC’s previous announcement in October 2007. All other obligor ratings remain unchanged.  To date 30.77% of the obligors (by loan amount) are rated in the BBB band. Notwithstanding the negative migration in the single ...

MARC has reaffirmed the A+ID /MARC-1ID ratings of Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance / Islamic Medium Term Notes Facility. The rating outlook is stable. The reaffirmed ratings reflect the group’s consistent financial performance and its competitive position in the supply of high density polyethylene (HDPE) engineering products to the water and s...

MARC has affirmed the ratings of MARC-2ID/AID to Symphony House Berhad’s (Symphony) RM100.0 million Islamic Commercial Papers/Medium-Term Notes (CP/MTN) Programme. The ratings carry a developing outlook. The affirmed ratings are based on the average business risk profile of Symphony, in particular that of its main earnings contributor, Business Process Outsourcing (BPO) operations, and the p...

MARC has downgraded the rating on Jana Niaga Sdn Bhd’s (JNSB) RM100.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF) from MARC-4ID to DID. The rating of “DID” reflects JNSB’s failure to make scheduled payment on the RM100.0 million MUNIF due on November 7, 2007 following verbal confirmation from the sole note holder and Facility Agent, Abrar Discounts Berhad...

MARC has reaffirmed the A+ID ratings of ARL Power Sdn Bhd’s (ARLP) RM177 million Bai Bithaman Ajil Secured Serial Bonds and RM50 million Islamic Medium-Term Notes.  The ratings carry stable outlook.  The ratings principally reflect the strength of cash flows generated under a 21-year power purchase agreement (PPA) with Sabah Electricity Sdn Bhd (SESB).  SESB is 80%-owned subsi...

MARC has affirmed the rating of A+ID of Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating carries a stable outlook. ZTC’s revenue generating asset is the Tun Salahuddin Bridge in Sarawak.The rating reflects the satisfactory traffic and revenue profile of the bridge relative to debt service un...

MARC has removed the MARC-2ID /A-ID ratings of HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. The developing outlo...

The rating of Leader Universal Holdings Berhad’s (Leader) RM150.0 Million Murabahah Medium-Term Notes Issuance Programme has been reaffirmed at AID. The rating outlook has been revised to developing from stable. The affirmed rating reflects the Group’s moderate and steadily improving operating margins in the cable and wire industry which is presently challenged by rising raw material p...

MARC has assigned ratings of MARC-1/A+ with a Positive Outlook to Hong Leong Financial Group Berhad’s (HLFG) proposed RM800 million commercial papers and Medium-Term Notes (CP/MTN) facilities. The ratings hinge largely on the strong credit profile of HLFG’s core subsidiaries, Hong Leong Bank Berhad (HLB) and Hong Leong Assurance Berhad (HLA), and on their continued ability to upstream ...