MARC has placed the ratings of PRI’s RM40.0 million Islamic Commercial Paper/Medium Term Note Issuance Programme, currently rated at A/MARC-2, on MARCWatch Developing with immediate effect. This is premised on a recent site visit to PRI's factory in Nilai, Negeri Sembilan where an absence of production activity and inventory were noted. The management represented that there is on-going maint...

MARC has lifted its MARCWatch Developing placement on the ratings of PRI and affirmed the long and short term debt ratings of PRI’s RM40.0 million Islamic Commercial Papers/Medium Term Notes Issuance Programme at AID (A Flat, Islamic Debt) and MARC-2ID respectively with a Stable Outlook.MARC had placed the ratings of PRI on MARCWatch Developing on 15 January 2007 in connection with a RM46 mi...

MARC has withdrawn the BBB+ID(s) rating assigned to Malaysian Newsprints Sdn Bhd (MNI) RM923 Million Bai’ Bi Al-Taqsit (BBAT) Nominal Value Fixed Rate Serial Bonds with immediate effect, following confirmation by the trustee that the bonds have been fully redeemed....

The ratings of Leader Universal Holdings Berhad’s (LEADER) RM150.0 Million Murabahah Medium-Term Notes Issuance Programme has been reaffirmed at AID, with a stable outlook. The ratings reflect the Group’s dominant market position in the domestic cable and wire manufacturing industry coupled with stable recurring revenue contributions from its power generation business in Cambodia. LEAD...

MARC has placed Malaysian AE Models Holdings Berhad’s (“MAE”) RM200 Million Islamic Commercial Paper/Islamic Medium-Term Notes Programme (“ICP/IMTN”) on MARCWatch Developing following confirmation from its Facility Agent, Bank Muamalat Malaysia Berhad of the withdrawal of Abrar Discounts Berhad (“Abrar”) as  an underwriter for RM25 million of the ICPs...

MARC has downgraded the rating of Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from A ID to BBB+ ID with a negative outlook. The rating downgrade is underpinned by the current negative domestic automotive industry outlook reflecting weak industry fundamentals which MARC believes will have an adverse impact on Trac...

MARC has downgraded the rating of Stenta Films (Malaysia) Sdn Bhd’s (Stenta) RM90 million Murabahah Notes Issuance Facility (MUNIF) from MARC-3ID to MARC-4ID.The rating also remains on MARCWatch, with negative implications. The rating action is premised on recent representations by the company that it intends to refinance the facility. This leads to concerns over the company’s ability ...

MARC has assigned respective short- and long- term ratings of MARC-2 and A with a developing outlook to Axis Incorporation Berhad’s (“Axis”) proposed RM100.0 million Commercial Papers/Medium-Term Notes (“CP/MTN”) Programme. The ratings reflect the group’s competitive position as an international OEM (“original equipment manufacturing”) player in the ...

MARC has reaffirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (BBAT) at BBB+ID(s) with stable outlook, reflecting the company’s dominant position as the sole newsprint producer in Malaysia; improvement in its financial performance during the fiscal year under review; the protection ...

Following our announcement dated 29 December 2006, we have placed the ratings of EPMB’s RM150 million Murabahah Notes Issuance Facility (MUNIF) and RM120 million MUNIF, both rated at MARC-2ID, on MARCWatch with developing outlook. This is pursuant to Abrar Discount Berhad (Abrar)’s announcement on Bank Negara Malaysia (BNM)’s instruction to Abrar to cease operations.MARC was made...