MARC has assigned a rating of MARC-2 to Persoft Systems Sdn Bhd’s (“PSSB”) proposed issuance of Commercial Papers Programme (“CP Programme”) with a nominal value of up to RM50 million. The rating reflects PSSB as a Tier-1 managed licensing services provider for Microsoft Corporation’s (“Microsoft”) applications in Malaysia and has been a reseller of ...

MARC has reaffirmed the ratings of Sime Darby Berhad’s (“Sime Darby” or “the Group”) RM1,500 million Al-Murabahah Commercial Papers/ Medium-Term Notes (“MCP/MMTN”) Programme at MARC-1ID/AAAID respectively. The ratings reflect the diversity of the Group’s operations in more than 10 countries; its sound financial profile characterised by respectable ca...

The short and long-term ratings of Delloyd Ventures Berhad’s (“Delloyd” or the “Group”) RM100 million Islamic CP/MTN Programme at MARC-1ID/A+ID respectively reflect Delloyd’s strengthening financials against the backdrop of firm market leadership with regard to the Group’s automotive components and parts manufacturing business. Factors which may contribute...

MARC has affirmed a rating of A+ID to Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (“Kesturi”) issuance of up to RM780 million redeemable secured serial bonds under an Islamic Istisna Sukuk (“Sukuk”). The assigned rating reflects amongst others, Duta-Ulu Kelang Expressway’s (“DUKE” or the “Highway”) strategic alignment connecting the N...

MARC has assigned a rating of A+ID (Islamic Debt) to Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) proposed issuance of RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating reflects the strategic importance of the Tun Salahuddin Bridge (“the Bridge”) as an integral part of the Sarawak Government’s infrastructure development prog...

MARC is currently undertaking a review for possible downgrades on the long-term ratings of Aegis One Bhd’s (Aegis One) RM900.0 million senior secured bonds and RM100.0 million subordinated secured bonds. MARC had announced in March 2006 the reaffirmation with negative outlook on the long-term ratings of Aegis One’s senior and subordinated bonds at AAA and BB respectively following the ...

MARC has placed Stenta Films (M) Sdn Bhd’s (“Stenta”) RM90 million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) on MARCWatch with a Negative Outlook. The action arises from Stenta’s intention to request for a further moratorium on principal repayment for another two years to September 2008 on the MUNIF facility thereby increasing refinancing risk, it...

MARC has affirmed the rating of AAAIS on Assar Chemicals Sdn Bhd’s (“ACSB”) RM150 million Serial Sukuk Musyarakah (“Facility”). Proceeds from the Facility were utilized towards repayment of a bridging loan and to part finance the construction costs of the Independent Oil Terminal (“IOT”). The rating reflects the secured demand from the credible offtakers i...

MARC has downgraded the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM272 million and RM226 million of class B and class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) facility from BBB+ID to CID and from BBBID to CID respectively.  The downgrades are based upon the insufficient funds in the designated accounts to meet the primary Class B BaIDs which falls due on 28th July 2006 ...

Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium-Term Notes (“MTN”) issuance programme rating has been affirmed at AAA by MARC. The rating signifies the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to repay the acknowledged sum on the stipulated date stated on Facility Payment Certific...