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...

MARC has assigned ratings of AAA to Prima Uno Berhad’s (Prima Uno) RM290.0 million Super Senior A, RM335.0 million Super Senior B and RM190.0 million Senior secured fixed-rate asset-backed bonds; AA to RM40.0 million Mezzanine secured fixed-rate; and BB to RM95.0 million subordinated junior secured variable-rate asset-backed bonds respectively. The ratings are based on the total credit enhan...

MARC has affirmed the rating of A+ID with Stable Outlook to Sweetwater SPV Sdn Bhd’s (“SSPV”) RM195 million Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating is driven by the operational and financial capability of Syarikat Pengeluar Air Selangor Holdings Berhad (“Splash Holdings”) to upstream dividends to its shareholders, payment of interes...

The ratings of Petronas Assets Sdn Bhd’s (PAssets) RM282 million Bai Al-Dayn Notes Issuance Facility (NIF) and RM500 million Al-Murabahah Commercial Papers/Medium-Term Notes (CP/MTN) have been reaffirmed at AAAID and MARC-1ID/AAAID, respectively with a Stable Outlook. The reaffirmation of the ratings reflect the strong issue structure governing the NIF and CP/MTN facilities, a record of time...

MARC has reaffirmed Putrajaya Holdings Sdn Bhd’s (PJH) ratings at AAAID for its RM765 million Nominal Value of Bai Bithaman Ajil (BBA) Bonds Issuance Facility (Parcels A, B & Public Facilities Precinct 10) (2000-2010); RM570 million Nominal Value of BBA Bonds Issuance Facility (Parcel C) (2001-2013); RM850 million Nominal Value of BBA Bonds Issuance Facility (Parcel D) (2001-2013); RM850...

MARC has uplifted the MARCWatch Developing on Sunrise Berhad’s (“Sunrise”) RM70 million MUNIF/IMTN and RM100 million BBA placed on 10 November 2006 following an announcement of the appointment of the voluntary administrator on Broadfields II Pty. Ltd. (“BII”), a foreign subsidiary of Sunrise; which triggered a technical event of default.The upliftment is based on the ...

Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium-Term Notes (“MTN”) issuance programme rating has been reaffirmed at AAA by MARC. The rating carries a stable outlook. The rating reflects the strength of the sole off-taker, The Government of Malaysia (“GOM”) vide its unconditional and irrevocable obligation to repay stip...

MARC had on 29 December 2006 placed Intelbest Corporation Sdn Bhd’s (“Intelbest”) RM50.0 million MUNIF on MARCWatch with developing outlook with regards to Abrar Discount Berhad’s (“Abrar”) announcement on Bank Negara Malaysia’s (“BNM”) instruction to Abrar to cease operations. However, MARC understands that the cessation of Abrar would not hav...

MARC has affirmed Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS respectively with a negative outlook. The strong ratings reflect, amongst others, majority state-owned Sacofa’s strategic position as sole developer, owner and manager of telecomm...