MARC has assigned ratings of AAA/AAAID and MARC-1/MARC-1ID, respectively, to the Conventional and Islamic Medium-Term Note Programme of up to RM40.0 billion (“MTN Programme”) and the Conventional and Islamic Commercial Paper Programme of up to RM20.0 billion (“CP Programme”) (collectively known as the “Programmes”)  to be issued by Cagamas Berhad (Cagamas)....

MARC has assigned ratings of AAA(bg)/MARC-1(bg) and AA+(bg)/MARC-1(bg) to Legolas Capital Sdn Bhd’s (LCSB) RM105 million nominal value CP/MTNs and RM110 million nominal value CP/MTNs, respectively, based on the irrevocable guarantees provided by Malayan Banking Berhad (Maybank) and United Overseas Bank (Malaysia) Bhd (UOBM) respectively. LCSB is a special purpose vehicle which is an 85.1% ow...

Following the announcement by CNLT (Far East) Berhad’s (CNLT) Board of Directors to Bursa Malaysia dated 11 June 2007 that CNLT is an affected listed issuer under the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") and Practice Note 17/2005 ("Amended PN17") and after considering the obligations the company is required to fulfil to avoid a tra...

MARC has downgraded the long and short term ratings of PRI’s RM40.0 million ICP/IMTN to D ID (D, Islamic Debt) and withdrawn its ratings upon receipt of confirmation from Bank Muamalat Malaysia Berhad (BMMB), that an “Event of Default” has been declared in relation to the ICP/IMTNs. PRI had failed to replenish an amount of RM191,945 into the Finance Service Reserve Account (FSRA)...

MARC has reaffirmed the long and short term ratings of AA- ID and MARC-1ID  respectively with a stable outlook for Top Glove Corporation Bhd’s (Top Glove) Islamic Medium-Term Notes (IMTN) Programme of up to nominal value RM100 million and Islamic Commercial Papers (ICP)Programme of up to nominal value RM100 million based on its scale of business as the largest glove maker in the world a...

MARC has affirmed YPJ Oil Palm Estate Sdn Bhd’s (YPJ) RM180 million Guaranteed Commercial Papers (CP) rating at MARC-1 (bg) with stable outlook. The affirmation reflects the strength of the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Investment Bank Berhad, Affin Bank Berhad and CIMB Bank Berhad.YPJ is principally involved in th...

MARC has lifted CNLT (Far East) Berhad’s (CNLT) RM60.0 million bank guaranteed Commercial Papers/Medium Term Notes Issuance Programme (CP/MTN) MARCWatch developing placement and reaffirmed its ratings at  MARC-1(bg)/A(bg). CNLT’s ratings had been placed on MARCWatch Developing on 27 April 2007 following a revision in repayment terms of the said programme. Detailed discussions with...

MARC has extended the MARCWatch Negative placement on the following ratings of Intelbest Corporation Sdn Bhd (“Intelbest”) which had been placed on MARCWatch Negative since 23 January 2007:RM20.0 million Series 1 BaIDS  BBB+IDRM35.0 million Series 2 BaIDS  BBBIDRM55.0 million Series 3 BaIDS  BBBIDRM50.0 million MUNIF  MARC-3 IDThe ratings remain on MA...

MARC has affirmed the AA- long-term rating of Tirai Impresif Sdn Bhd’s (Tirai) RM100.0 million Medium-Term Notes (MTN) Programme with a stable outlook. The affirmation is primarily based on the credit quality and performance of existing Government contract receivables assigned to the issue in respect of identified Government sponsored affordable housing schemes and the issue’s tight st...

MARC has assigned the ratings of AAAID(bg) and MARC-1ID(s) to the proposed issuance of Arapesona Development Sdn Bhd’s (Arapesona) Islamic Bank Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200.0 million and Islamic Commercial Papers (ICP) Programme of up to RM70.0 million respectively. The outlook of the ratings is stable. Arapesona is a 50:50 joint venture formed by UEM Land Sdn...