MARC has assigned the following long-term ratings to Special Coral Sdn Bhd’s (Special Coral) RM300 million Senior Class MTNs (Senior Notes) classes:Senior Class MTNIssue sizeRatingOutlook1.Class ARM160 millionAAAStable2.Class BRM40 millionAAStable3.Class CRM35 millionAStable4.Class DRM25 millionBBBStable5.Class ERM10 millionBBStable6.Class FRM30 millionBStableTotalRM300 millionAt the same ti...

MARC has withdrawn its ratings of MARC-1ID(cg)/AA-ID(cg) on Harum Intisari Sdn Bhd’s RM300 million Al-Murabahah Commercial Paper/Medium Term Notes (CP/MTN) Programme with immediate effect. The rating withdrawal follows the final RM100 million redemption of outstanding notes on March 17, 2011 and cancellation of the facility, as confirmed by HSBC Bank Malaysia Berhad, the facility agent.Conta...

MARC has resolved its MARCWatch Developing placements of Sunrise Berhad's (Sunrise) and Horizon Hills Development Sdn Bhd's (Horizon Hills) respective debt ratings upon the former becoming a wholly-owned subsidiary of UEM Land Holdings Berhad (ULHB). Horizon Hills is a 50:50 joint venture between ULHB’s wholly-owned subsidiary UEM Land Berhad (UEM Land) and Gamuda Berhad (Gamuda).The ratings...

MARC has assigned a final rating of AAAIS with a stable outlook to Aman Sukuk Berhad’s Islamic Medium-Term Notes Programme of up to RM10.0 billion upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of AAAIS was based. Full detail...

MARC has affirmed the ratings on Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP)/Medium Term Notes (MMTN) Programme with a nominal value of up to RM300 million at  MARC-1ID(cg)/AA-ID(cg) with a stable outlook. The ratings reflect the credit strength of Gamuda Berhad (Gamuda), the ultimate parent company of HISB, which has provided a corporate guarantee for the rated...

MARC has assigned a preliminary rating of AAAIS with a stable outlook to the Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion by Aman Sukuk Berhad (Aman).Aman is a special purpose vehicle established to facilitate the issuance of IMTNs on behalf of its parent, Pembinaan BLT Sdn Bhd (PBLT). PBLT, an entity wholly-owned by the Government of Malaysia (GoM), constructs facilities and...

MARC has affirmed its ratings of MARC-1/AAA, MARC-1/AA and MARC-1/A on Gandalf Capital Sdn Bhd’s (Gandalf Capital) RM118 million Commercial Papers/Medium Term Notes Programme comprising RM87 million Class A, RM16 million Class B  and RM15 million  Class C notes respectively with a stable outlook. Wholly-owned by Quill Capita Trust (Quill Trust), Gandalf Capital is a special purpose...

MARC has affirmed its MARC-1/AAA and MARC-1/AA ratings of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes and RM40.0 million Class B Notes respectively under a RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The ratings are supported by the quality and strategic location of the collateral property, low loan-to-value ratios (LTV) for the respective notes, c...

MARC has affirmed its AAIS rating on special purpose vehicle Diversified Venue Sdn Bhd’s (DVSB) RM200 million Sukuk Al-Ijarah Master Programme, with the rating outlook maintained at stable. The proceeds from the issue were used to fund the purchase of the Mercu UEM building, which houses UEM Group Berhad’s (UEM) corporate headquarters, from First Impact Sdn Bhd (FISB). The affirmed rat...

MARC has affirmed its A rating on Berjaya Land Berhad's (BLand) Secured Exchangeable Bonds due 2011 with the rating outlook maintained at stable. The rating action is premised on the strong collateral coverage afforded under the bond issue structure in which BLand has to maintain at least 130% collateral coverage in the form of pledged shares in its gaming subsidiary, Berjaya Sports Toto Berhad (B...