MARC has received confirmation from MIDF Amanah Investment Bank Berhad ("MIDF Investment"), the facility agent for Kuala Lumpur Sentral Sdn Bhd’s RM720.0 million Al-Bai Bithaman Ajil Debt Islamic Debt Securities (BaIDS), that the facility has been fully redeemed and cancelled effective 6 April 2007. As such, MARC no longer has any rating obligation on the facility, and has accordin...

MARC said today that its AA-ID (cg) rating on KCB’s RM630 million Murabahah Medium Term Notes (MMTN) is not affected by Scomi Group Berhad’s (Scomi) announcement of a proposed divestment of 19.9% in the respective classes of the share capital in Scomi Oilfield Limited (Scomi Oilfield) to Standard Chartered Private Equity Limited for a total cash consideration of USD99.50 million.KCB is...

MARC said today that its AA- rating on SGB is not affected by the company’s recent announcements in relation to the following:SGB’s share sale agreement with MTrans Transportation Corp Sdn Bhd (MTC) to acquire 10,400,002 ordinary shares in MTrans Transportation Systems Sdn Bhd (MTrans), representing 40% of the issued and paid-up share capital of MTrans from MTC, for a total purchase co...

MARC has reaffirmed Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS) rating of A with a Developing Outlook. The rating was reaffirmed based on the strong operational and consolidated financial performance as well as strong growth in water demand in the state of Johor. AIRB was the vehicle established to undertake the restructuring sch...

MARC has reaffirmed the long-term rating of Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million fixed rate serial bonds (CMBS 2004-1) at AAA.  The reaffirmation reflects the performance of the securitised mortgage portfolio (Portfolio 2004-1) within stressed expectations; overcollateralization of 121.9%; and adequate collection and monitoring procedures employed in respect of Portfolio...

MARC has assigned a short term rating of MARC-1ID  to Straight A’s Portfolio Sdn Bhd’s (“SAP”) RM200 Million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) with stable outlook. SAP is a special purpose vehicle (“SPV”) company formed by Oil-Line Engineering & Associates Sdn Bhd (“OLEA”) incorporated for the purpose of se...

MARC is of the view that the proposed disposals of Symphony Global Sdn Bhd (SGSB), Symphony Global Technologies Sdn Bhd (SGT) and Symphony Capital Sdn Bhd (SCSB) has no immediate impact to the corporate debt ratings of Symphony House Berhad’s (SHB) RM100 million Islamic Commercial Paper/Medium Term Notes (CP/TMN) at MARC-2ID/AID. SHB had announced on 27 February 2007, that it intends to disp...

MARC has affirmed the long term rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Fixed Rate Serial Bonds of RM2,060.0 million at AAA.  The affirmation reflects the satisfactory performance of the securitized mortgage portfolio; overcollateralisation of 141.0%; and adequate monitoring procedures employed in respect of the securitized portfolio by the transaction administrator, C...

On 5 October 2006, MARC received confirmation from Malaysian Trustees Berhad that MHS MHSA had fully redeemed its RM60 million BaIDS on 3 September 2006. As such, MARC no longer has any rating obligation on the BaIDS, and hereby withdraws the rating of AAID (AA Flat, Islamic Debt)....

MARC has removed MHS Aviation Berhad’s (MHSA) A+ID rating on its RM140 million Junior Notes Issue (JNs) from MARCWatch Developing, and affirmed the rating with a Stable Outlook.The rating was placed on MARCWatch Developing on November 8, 2006 due to initial concerns that the grounding of MHSA’s three Super Puma helicopters under charter to Exxon Mobil Exploration & Production Malay...