IJM Corporation Berhad’s (IJM) RM300 million of Commercial Papers/ Medium-Term Notes Programme (CP/MTN) has been affirmed at MARC-1/ A+. This reflects IJM’s consistently strong financial results; the ability to sustain its competitive position domestically and internationally and the diversity of its business. The ratings are, nevertheless, moderated by the challenging operating environment pr...

MARC has affirmed Bumiputra-Commerce Bank Berhad’s (BCB or the bank) Financial Institution ratings at AA-/MARC-1 and its detachable coupons of RM667.0 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A+. The ratings reflect the bank’s efforts at improving asset quality, its stable liquidity position and wide funding base. Deemed the second largest commerci...

This proposed Murabahah Medium-term Notes (“MMTN”) programme represents a structured transaction involving the assignment of license/ rental payments due from the local telecommunication companies (“telcos”) to the Issuer, Instacom SPV Sdn Bhd (“Instacom SPV”); in respect of the erection of telecommunication towers (“towers”) and construction of related infrastructure. Accordingly,...

MARC has upgraded the rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) rating to AAID. The rating upgrade is a reflection of the continuous traffic growth at the KL–Karak Highway (KLK) and the strength of the company’s financial profile underpinned by the strong revenue and pre-tax profit growth following the contribution from the East Coast Expr...

MARC has reaffirmed the ratings of Petronas Assets Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:IssueBai Al-Dayn Notes Issuance Facility (NIF) with a nominal value of up to RM282 millionRatingAAAID IssueMurabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a nominal value of RM500 millionRatingMARC-1ID/AAAID The reaffirmation of the ratings reflects the credit st...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:Issue 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs)RatingMARC-1ID/AAAIDIssue8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)RatingAAAIDIssue13...

MARC has received confirmation that the second series of SESB’s Al-Bai Bithaman Ajil Secured Serial Debt Securities (2002/2008) amounting to RM25.0 million had been redeemed on 14 December 2005. After the aforementioned redemption, the current outstanding BaIDS Facility stands at RM95.0 million....

MARC has reaffirmed the rating of Special Port Vehicle Bhd’s (SPV) RM1,310.0 million nominal amount asset-backed serial bonds facility. The rating affirmation is premised on the superior credit rating of the Government of Malaysia (GOM) backing Port Klang Authority (PKA), the obligor under the transaction; minimal exposure to construction risk with completion of infrastructure works as at end De...

MARC has placed the rating of Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS) (rated A) on MARCWatch with Developing Outlook. It has been made known to us that there is a proposal by the Johor State Government (JSG) to restructure the water supply services in the state of Johor. In our discussion with the management of AIRB, we have been...

MARC has reaffirmed the ratings of TSH Resources Bhd’s (TSH) RM100 million in nominal value Al-Murabahah Commercial Papers/Medium-Term Notes (CPs/MTNs) at MARC-1ID/A+ID. The reaffirmation reflects the sturdy performances of TSH’s diversified business portfolio of palm oil milling and plantations, manufacturing of engineered solid hardwood flooring products, biomass power generation as well as ...