Factors underscoring the negative outlook attached to the domestic automotive industry include, inter alia, continued dismal vehicles sales especially passenger vehicles on the back of increasingly stringent approval requirements for hire purchase loans and relatively higher interest rates for used vehicles financing, aggravated by depressed used car prices and generally negative consumer sentimen...

Factors underscoring the negative outlook attached to the domestic automotive industry include, inter alia, continued dismal vehicles sales especially passenger vehicles on the back of increasingly stringent approval requirements for hire purchase loans and relatively higher interest rates for used vehicles financing, aggravated by depressed used car prices and generally negative consumer sentimen...

MARC has placed Sunrise Berhad’s (“Sunrise”) RM70 million MUNIF/IMTN and RM100 million BBA on MARCWatch with a developing outlook following an announcement of the appointment of the voluntary administrator on Broadfields II Pty. Ltd. (“BII”), a foreign subsidiary of Sunrise; which has triggered a technical event of default.BII is involved in the provision of education...

Following the crash involving the Super Puma helicopter chartered out to Exxon Mobil Exploration and Production Malaysia Inc (EMEPMI) last Sunday, 5 November 2006, the remaining three MHS Aviation Berhad’s (MHSA) Super Puma helicopters used for EMEPMI’s operations have been grounded, pending investigation. This was the second incident involving MHSA’s Super Puma helicopters used ...

MARC has reaffirmed the short and long-term ratings of Mines Resort Berhad’s (MRB) Bank Guaranteed Commercial Papers and Bank Guaranteed Serial Bonds at MARC-1(bg) and AAA(bg) respectively, reflecting the unconditional and irrevocable guarantee provided by Malayan Banking Berhad (Maybank). On a stand alone basis, MARC maintains a cautious outlook for MRB, reflecting delays in its proposed pr...

MARC has affirmed, with Stable Outlook, the AA- rating to Scomi Group Bhd’s (Scomi) RM500 million Medium-Term Notes (Notes). The rating reflects the group’s competitive position in the oil and gas industry, having one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; its business presence in 35 countries following th...

MARC has affirmed Maxtral Industry Berhad’s (Maxtral) RM80 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) Facility and RM20 million Murabahah Underwritten Notes Issuance Facility/Murabahah Medium Term Notes Issuance Facility (MUNIF/MMTN) ratings at  AID / MARC-2ID  with a stable outlook. The affirmation reflects Maxtral’s strengthening financials underpin...

MARC has reaffirmed Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) rating at AA+ID with a stable outlook.  The rating reflects the project’s stable and predictable cash flow supported by the contracted capacity payments as well as the credit strength of the off-taker cum majority shareholder, Tenaga Nasional Bhd (TNB). TNB c...

MARC has received confirmation from Standard Chartered Bank Malaysia Berhad as the facility agent for Ranhill Berhad (“Ranhill”), that the partially underwritten RM300.0 million Murabahah Commercial Papers (“MCP”) / Murabahah Medium-Term Notes (“MMTN”) Programme has been redeemed and refinanced through an issuance of USD220 million nominal value Guaranteed Notes...

MARC has affirmed the short and long term ratings of MARC-1ID and AA-ID respectively with a stable outlook for Top Glove Corporation Bhd’s (“Top Glove”) Islamic Commercial Papers (“ICP”) Programme of up to nominal value RM100 million and Islamic Medium-Term Notes (“IMTN”) Programme of up to nominal value RM100 million. The affirmation reflects the group&rs...