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...

MARC has reaffirmed the AAAID rating of Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the strength of the project which in turn draws its strength from the assured demand for the supply of chilled water from the Government offices in Putrajaya; the integrated nature of the project owing to the st...

MARC has affirmed the short and long-term ratings of MARC-2ID and A-ID (A minus, Islamic Debt) in respect of Paradym Resources Industries Sdn Bhd’s (PRI) Islamic Commercial Paper/Medium Term Notes Issuance Programme (Islamic CP/MTN). The affirmation of the ratings reflects PRI’s commendable improvement in its financial position and PRI’s status as a reputable manufacturer of superior quality...

Peremba Jaya Holdings Sdn Bhd’s (PJHSB) RM200 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/ Murabahah Medium-Term Notes (MMTNs) facility’s long-term rating has been downgraded to A-ID from AID whilst the short term rating is affirmed at MARC-2ID. The ratings have also been placed on MARCWatch with a Negative Outlook. The rating actions reflect the group’s thinning margins, ...