MARC has assigned the ratings of MARC-1ID/AAID to Cellular Structures Sdn. Bhd. (CSSB) RM184.0 million Senior MUNIF/IMTN under a RM192.0 million MUNIF/IMTN and IMTN Facility (Facility).  The ratings reflect the exclusive rights given to Konsortium Jaringan Selangor Sdn. Bhd. (KJS) to construct and manage the telecommunication towers and structures in the State of Selangor; the licensing agree...

MARC has downgraded the ratings of Ample Zone Berhad’s (AZB) Sukuk Al-Ijarah comprising of RM50 million Class A Sukuk, RM25 million Class B Sukuk and RM75 million Class C Sukuk (Sukuk) from AAAID, AAID and AID to AA+ID, AID and BBID, respectively. The ratings reflect the deterioration of AZB’s cash flow resulting from the non rental payment from subsidiaries of Talam Corporation Berhad...

The ratings of Atlan Holdings Bhd’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities have been reaffirmed at MARC-2ID/AID and AID respectively. The reaffirmation of the ratings reflects Atlan’s focus and strength in its respective core busin...

The rating of Reliance Pacific Berhad’s (“RPB” or “the Group”) RM100 million Redeemable Secured Bonds (2001/2006) has been reaffirmed at A- (A minus). Underpinning the rating is the expected sustained growth in the travel and tourism industry and the group’s overall improved financial profile. The rating, however, is moderated by RPB’s reasonably high debt...

MARC has affirmed the ratings of A+ID and MARC-2ID/A+ ID on Konsortium Lapangan Terjaya Sdn Bhd’s (“KLT”) RM380.0 million Bai Bithaman Ajil Medium-Term Notes (“BBA MTN”) and up to RM80.0 million Murabahah Commercial Papers/Medium-Term Notes Programme respectively (“MCP/MTN”) (collectively known as “Finance Facilities”). The ratings reflect, amo...

Pembangunan Leasing Corporation Sdn Bhd’s (PLC) Guaranteed Notes Issuance Programme (GNIP) rating is upgraded from MARC-1/A(bg) to MARC-1/A+(bg) to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad or BPMB (formerly known as Bank Pembangunan & Infrastruktur Malaysia Berhad). BPMB’s A+ rating from MARC reflects the impro...

MARC has affirmed YPJ Oil Palm Estate Sdn Bhd’s (YPJOPE) RM180 million Guaranteed Commercial Papers rating at MARC-1 (bg). The affirmation reflects the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Merchant Bank Berhad, Affin Bank Berhad and Bumiputra-Commerce Bank Berhad.YPJOPE is principally involved in the cultivation and manag...

MARC has reaffirmed the rating of TH Group Berhad’s (THG) RM150 million Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) at AID. The outstanding balance of the BAIDS is RM75 million which will mature in January 2007. The affirmation reflects the steady operating performances of THG’s plantation and construction divisions as well as its fairly robust balance sheet. Moderating factor...

MARC has affirmed the ratings of TH Group Berhad’s (THG) RM200 million Commercial Papers /Medium-Term Notes (CP/MTN) Programme ratings at MARC-2 / A. The affirmation reflects the steady operating performances of THG’s plantation and construction divisions as well as its fairly robust balance sheet. Moderating factors to THG’s rating include seasonal factors and/or cyclical develo...

This transaction represents the third issue rated by MARC, involving the securitisation of oil palm plantation assets. Originated by Teck Guan Holdings Sdn Bhd (“TGHSB or Originator”), the plantation assets are owned by its subsidiaries namely Andum Sdn Bhd (“ASB”), Happy Valley Plantation Sdn Bhd (“HVP”) and Teck Guan Plantations Sdn Bhd (“TGP”) (&l...