MARC has withdrawn the A rating assigned to MAA Holdings Berhad’s (“MAAH”) RM120.0 million Structured Serial Bonds due 2007 with immediate effect, following written confirmation from the facility agent, Standard Chartered Bank Malaysia Berhad, that the bonds were fully redeemed on August 21, 2007....

MARC has affirmed Boon Koon Group Berhad’s (‘BKGB’ or the ‘Group’) RM100 Million Islamic Commercial Papers/ Medium-Term Notes (ICP/MTN) ratings at AID / MARC-2. The rating outlook is stable. The rating affirmation primarily reflects the Group’s leading position in the domestic rebuilt commercial vehicle industry, the industry’s positive growth prospectives...

Under this transaction, Inverfin Sdn Bhd (Inverfin), the owner of Menara Citibank will issue up to RM200.0 million Commercial Papers/ Medium Term Notes (Notes) comprising RM160.0 million Class A and RM40.0 million of Class B Notes. MARC has assigned ratings of MARC-1/AAA and MARC-1/AA to Inverfin’s RM160.0 million Class A and RM40.0 million Class B Notes respectively. The ratings reflect the...

MARC has lowered its rating on Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.10 billion Al-Bai Bithaman Ajil Islamic Debt Issuance Facility (ABBA) from ‘B- ID’ to ‘D’. Concurrently, the rating has been removed from MARCWatch Negative where it had been initially placed in May 2007. The lowered rating reflects SILK’s inability to meet t...

MARC has assigned a rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds of RM2,410.0 million. The rating reflects the quality of the underlying government staff housing loans (GSHLs); overcollateralisation of 125.1% which allows the transaction to withstand AAA default and prepayment stresses; and the strong transaction administrator, Cagamas Berhad (Caga...

MARC has withdrawn the MARC-1ID/AAAID ratings assigned to Petronas Assets Sdn Bhd’s (PAssets) RM500 million Murabahah Commercial Papers / Medium-Term Notes Programme (CP/MTN) with immediate effect, following written confirmation from Aseambankers Malaysia Berhad that the Facility had been cancelled on 17 August 2007 following the full repayment of all outstanding notes....

MARC has assigned preliminary ratings of AAA, AA and A+ to Class Auto Receivables Berhad’s (Class Auto) RM[395.0] million Class A, RM[20.0] million Class B and RM[20.0] million Class C Medium-Term Notes. Class Auto, a special purpose vehicle whose shares are held by the share trustee for the benefit of certain charities, was incorporated for the purpose of purchasing hire purchase receivable...

MARC has affirmed the long and short-term ratings of Goodway Integrated Industries Berhad’s (Goodway) RM80 million Partially Underwritten Murabahah Notes Issuance Facility/ Islamic Medium-Term Notes Programme, at AID/Marc-2ID. The factors supporting the ratings affirmation include its improving profitability, the company’s market position as one of the leading domestic manufacturers an...

MARC has reaffirmed the ratings of WCT Engineering Berhad’s (WCT) Islamic Fixed Rate Serial Bonds of RM100 million at A+ID and 7-year Islamic Commercial Papers/Medium-Term Notes Programme of up to RM100 million (Islamic CP/MTN) (collectively known as Islamic Securities or IS) at  MARC-1ID /A+ID with a stable outlook. The ratings reflect WCT’s sustained competitive position in the ...

MARC has extended its MARCWatch Negative placement in respect of Sistem Lingkaran- Lebuhraya Kajang Sdn Bhd’s (“SILK”) rating of B-ID on its Notional Amount of RM2.10 billion Al-Bai Bithaman Ajil Islamic Debt Issuance Facility (“ABBA”) (2001/2021).MARC had placed SILK on MARCWatch Negative in May 2007 following confirmation from PB Trustee Services Sdn Bhd (the &ldquo...