MARC has placed its ratings on the following issues on MARCWatch Developing with immediate effect: Pembinaan Mitrajaya Sdn Bhd (Pembinaan Mitrajaya)’s RM50 million Murabahah Multi-Option Notes Issuance Facility (MONI) (2004/2011)MARC-2ID Evermaster Group Berhad’s RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF)MARC-2ID Intelbest’s RM50 million Murabahah No...

MARC has affirmed a long term rating of AA-ID to Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (“SPRINT”) RM510 million Al-Bai’ Bithaman Ajil Islamic Facility (“BaIDS”). Concurrently, we affirmed the rating of the Revolving Underwritten Facility of up to RM125 million to MARC-1. SPRINT is the concessionaire of the SPRINT Highway comprising the Damansara Link, the ...

MARC has reaffirmed the rating of Radicare (M) Sdn Bhd’s (Radicare) RM49.0 Million Commercial Paper Programme (CPs) at MARC-1. The rating continues to reflect the secured cash receivables from the Ministry of Health (MOH) backed by invoices issued to the MOH; a 1.25 times security cover of the amount issued; stringent requirements of the issue structure; and Radicare’s sheer dominance ...

MARC has reaffirmed the rating of AAAID to Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) debt issuance and AAAID(s) to Optimal Glycols (Malaysia) Sdn Bhd (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) (both Glycols and Chemicals referred to as ‘G&C’) debt issuances respectively. The ratings continue to reflect...

The ratings of ARL Power Sdn Bhd’s (ARLP) RM177.0 million Al-Bai’ Bithaman Ajil Secured Serial Bonds (ABBA) and RM50.0 million Islamic Medium-Term Notes (IMTN) have been reaffirmed at A+ID. The rating reaffirmations are based on the stable and predictable cash flows of the company which has allowed it to service its debt obligations on a timely manner, the presence of a long-term fuel ...

MARC has reaffirmed Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) Istisna’ Serial Bonds (Bonds) rating at AAA(s)ID (AAA Support, Islamic Debt). The rating reflects the AAA rating of the Sarawak State Government since the source of funds to service the principal and profit for the Bonds will come directly from Sarawak State Government. The payments by SSHMC to the b...

MARC has reaffirmed the rating of AAAID to Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) debt issuance and AAAID(s) to Optimal Glycols (Malaysia) Sdn Bhd (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) (both Glycols and Chemicals referred to as ‘G&C’) debt issuances respectively. The ratings continue to reflect...

MARC has reaffirmed the rating of AAAID to Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) debt issuance and AAAID(s) to Optimal Glycols (Malaysia) Sdn Bhd (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) (both Glycols and Chemicals referred to as ‘G&C’) debt issuances respectively. The ratings continue to reflect...

MARC has placed Bayu Padu Sdn Bhd’s RM500 million Istisna’ Serial Bonds and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCPs/MMTNs) on MARCWatch Developing. However, the ratings are maintained at A+ID/MARC-1ID.Bayu Padu Sdn Bhd, which is 100% owned by Sapuracrest Petroleum Berhad (“SapuraCrest”) is a special purpose vehicle (“SPV”) incorporated ...

Instacom SPV Sdn Bhd’s (Instacom SPV) RM200 million Murabahah Medium-Term Notes’ (MMTN) rating has been affirmed at AA-ID with a Stable Outlook. The rating reflects the strength of the issue structure governing the programme which eliminates the risks from construction and its associated costs, ensures robust cash flows from strong off takers such as Maxis Telecommunications and Digi a...