Oilcorp Berhad’s (“Oilcorp”) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (“MUNIF/IMTN”) long-term rating has been downgraded from A ID to A- ID, and short term rating reaffirmed at MARC-2 ID.  The ratings have been accorded stable outlook.  The rating downgrade is underpinned by the Group’s weakened fi...

MARC has downgraded the ratings of DRB-HICOM Berhad’s (DRB-HICOM or the Group) RM50.0 million Underwritten Murabahah CP/MTN and RM120.0 million Murabahah CP/MTN facilities from AA-ID/MARC-1ID to A+ID/MARC-1ID ; and RM680.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from AA-ID to A+ID respectively with a stable outlook. The downgrades reflect the Group’s declining ...

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 downgraded Jana Niaga Sdn Bhd’s (“JNSB”) RM100.0 million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) from MARC-3 ID  to MARC-4 ID  following the failure of University Industri Selangor (“UNISEL”) to make good outstanding guaranteed rental payments amounting to RM8.7 million (as at October 2006) by 31 January 2007. In Decembe...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s (Midciti) Private Debt Securities (PDS) Facilities as follows:IssueRating8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)AAAID13-year Bonds with a nominal value of up to RM1,315 million (13-year Bonds)AAA(s)The reaffirmation of the ratings which carries a stable outlook, reflects...

The ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million CP programme has been reaffirmed at A/MARC-2 with stable outlook. The rating is supported by, amongst others, the collateral, comprising identified eligible receivables (IER) and cash balances in the designated accounts backing the bonds and CPs, of not less than 1.3 times the total ou...

MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium-Term Notes programme (referred to as the Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes with stable outlook. The affirmation is a reflection of at least 1.66 times collateral backing Class A and B notes which is maintained at a...

The ratings of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN have been affirmed at A(bg)/ MARC-1(bg) with Stable Outlook. The reaffirmation reflects the weakest link rating of the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. The bank guarantors consist of Aseambankers, Malayan Banking Berhad, CIMB Bank Berhad and EON ...

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 ...

The rating of OSK Property Holdings Bhd (OSKP)’s Class A and Class B BaIDS has been reaffirmed at A ID and A- ID respectively with a negative outlook. The reaffirmation reflects OSKP’s strong presence in Sungai Petani, Kedah through its flagship development – Bandar Puteri Jaya (BPJ) and its stable operating profit margins. Moderating factors however include the soft property mar...