MARC has affirmed the rating of AID on Englotechs Holding Bhd’s (Englotechs) Murabahah Medium-Term Notes Programme of RM50.0 million with a stable outlook. The rating affirmation reflects the company's position as a leading manufacturer and exporter of industrial cotton work gloves in Malaysia; a foreseeable increase in demand for its products, consistent operating margins coupled with a ris...

MARC is currently undertaking the annual review on CapOne Berhad’s (CapOne)  secured fixed rate asset-backed bonds comprising of RM600 million Super Senior Class A-1, RM250 million Senior Class A-2, RM50 million Mezzanine Class B and subordinated secured variable rate asset-backed bonds of RM100 million. Based on the portfolio review of the corporate loan borrowers (obligors), the portf...

MARC has affirmed IJM Plantations Berhad’s (IJMP) RM150 Million Al-Bai Bithaman Ajil Islamic Debt Securities (ABBA) rating at A+ID with stable outlook. The affirmation reflects IJMP’s steady operating performance focusing on oil palm plantation and milling as well as its strong financial profile. The rating is nonetheless moderated by IJMP’s exposure to the cyclical developments ...

MARC has affirmed the rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 Million Murabahah Commercial Papers (MCP) Programme at MARC-2ID with developing outlook. The affirmation reflects MMV’s anticipated improving financials arising from a more focused business strategy supported by Malaysian Palm Oil Board (MPOB) expertise in downstream palm oil research and development (R&D) activitie...

MARC has maintained a MARCWatch with a Negative Outlook on the ratings of Peremba Jaya Holdings Sdn Bhd’s (PJHSB) RM200 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/ Murabahah Medium-Term Notes (MMTNs). The rating action reflects PJHSB’s weak financials as at July 2006 and the continued uncertainty surrounding the finalisation of Contract D with Putrajaya Holdings Sdn...

MARC has affirmed the ratings of A+ID and MARC-1ID/A+ID assigned to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Bhd) RM500 million Istisna’ Serial Bonds (“Istisna Bonds”) and RM100 million Murabahah Commercial Papers/ Medium-Term Notes (“MCP/MMTNs”) facilities, which reflect: positive outlook of the oil and gas (“O&G”) industry, es...

AmMerchant Bank Berhad’s (AmMerchant) financial institution ratings has been upgraded to AA-/MARC-1 premised on the Bank’s improvement in asset quality, consistent strong market position in fee-based activities; and funding profile. Reflected in the rating is the Bank’s experienced management team and effective risk management systems. The outlook is stable.The Bank is a leading ...

MARC has placed Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (“BaIDS”) on MARCWatch with a Negative Outlook. This is premised on Tracoma’s delay (in accordance with the Terms and Conditions of the BaIDS) to deposit the monthly built up in the Profit Service Account (PSA) required for the upcoming profit ...

MARC has downgraded the rating of PSSB Ship Management Sdn Bhd’s (PSM) RM40 million BAIS from AA-ID to A+ID with negative outlook. Factors contributing to the downgrade include consistently higher than anticipated vessel operating cost, deteriorating financial position of project sponsor – PSSB Strategic Holdings Sdn Bhd (PSSB), and PSM’s failure to adhere to timely reporting req...

The ratings of Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance/ Islamic Medium-Term Notes Facility have been affirmed at A+ID/MARC-1ID with a stable outlook. The affirmation is premised on Weida’s sound financial performance and its position as one of the largest domestic manufacturers of a wide range of high density polyethylene (HDPE) engineering products ...