MARC has affirmed the ratings of Premium Nutrients Berhad’s (Premium Nutrients) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/IMTN) at MARC-2ID / AID. The affirmation reflects the Group’s competitive position as an integrated producer of specialty fats; its diversified customer base and the structural features in the issue structure. The ratings a...

WCT Engineering Berhad’s (WCT) proposed additional indebtedness, primarily for its construction projects in Qatar will result in a higher debt level, rising from 0.7 times in FY2004 to 0.9 times currently. Whilst this level is marginally high for the current ratings of A+ID for long term and MARC-1ID for short term, it is moderated by WCT’s excellent record on its overseas projects to-date, ex...

MARC has reaffirmed the corporate credit rating of Road Builder (M) Holdings Bhd (RBH) at A+. The rating reaffirmation is reflective of RBH’s diversified earnings base which provides protection against the cyclicality of any particular industry that RBH is involved in; evidenced by RBH’s stable and sustainable financial performance over the years. Moderating factors to the rating is the Group�...

MARC has reaffirmed the rating of Road Builder (M) Sdn Bhd’s (RBM) RM400 million Repackaged Income Securities at A+(s). The rating reaffirmation is due to the high cash coverage afforded to the outstanding bonds brought about by the accumulation of funds in the sinking fund account and a tight issue structure. RBM’s financial standing is affected by the backdrop of a challenging operating envi...

MARC has affirmed RCE Premier Sdn Bhd’s (RCEP) ratings of RM45.0 million Fixed Rate Serial Bonds at A and RM50.0 million Underwritten Commercial Papers at MARC-2. The ratings reflect the overcollateralisation (OC) ratio of 1.3 times over the identified eligible receivables (IER) purchased by RCEP maintained at all times; provision for substitution of defaulted IER and/or early settlement with pe...

MARC has assigned ratings of MARC-1/AAA, MARC-1/AA, BB and B to Aragorn ABS Berhad’s (Aragorn) RM60.0 million Senior Class A CPs/MTNs, RM10.0 million Senior Class B CPs/MTNs, RM20.0 million Subordinated Class C MTNs and RM25.0 million Subordinated Class D MTNs respectively. Under this transaction, Aragorn, a bankruptcy remote special purpose vehicle, will purchase a designated piece of land toge...

The reaffirmation of Negeri Sembilan Cement Industries Sdn Bhd’s (NSCI) RM200 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) rating at A+ID(bg) reflects the security provided by AmMerchant and Bumiputra-Commerce Banks’ respective Bank Guarantees; whilst the reaffirmation of the rating MARC-2 ID /A-ID accorded for NSCI’s RM130 million Murabahah Notes Issuance Facilities (MUNIF) ref...

MARC has affirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million bonds and up to RM360.0 million of CP/MTN facility at AAA and MARC-1/AAA respectively. The rating affirmation is based upon the satisfactory progress of development works at the Port Klang Free Zone/Transshipment Megahub (PKFZ); the superior credit rating of the Government of Malaysia’s (GOM) backing of Po...

MARC has reaffirmed the MARC-4ID rating of Pembangunan Brisdale Sdn Bhd’s (PBSB) RM55 million Murabahah Notes Issuance Facility (MUNIF). Concurrently, the rating has been placed on MARCWatch with a Developing Outlook. PBSB is a wholly-owned subsidiary of Brisdale Holdings Bhd, the developer of Bandar Armada Putra located in the West Port vicinity. The rating reflects the weak demand for the prop...

Oilcorp Berhad’s (Oilcorp) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes Facility (MUNIF/IMTN) has been affirmed at MARC-2ID/AID, reflecting Oilcorp’s position as an integrated, multidisciplined engineering, procurement and construction (EPC) services provider in various oil and gas, petrochemical, power generation, semiconductor and other related indust...