The MARC-1 BG rating assigned to YPJ Oil Palm Estate Sdn Bhd’s (YPJOPE) RM180 million Guaranteed Commercial Papers (CP) 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 management of palm oil estat...

MARC has assigned a long-term rating of A (A Flat) to PECD Berhad’s (“PECD or the Group”) proposed RM200 million Serial Fixed Rate Bonds Programme (“Serial Fixed Rate Bonds”). The assigned rating is premised upon PECD’s competitive position within the construction industry as evident by the group’s order book which is comparable to other construction companies rated by MARC; its abil...

MARC has assigned ratings of AA-ID (Double A Minus, Islamic Debt) to DRB-Hicom Berhad’s (DRB or Group) RM680 million Bai’ Bithaman Ajil Islamic Debt Securities and MARC-1ID/AA-ID to its RM200 million Underwritten Murabahah CP/MTN and RM120 million Murabahah CP/MTN facilities respectively. The assigned ratings reflect the Group’s diversified businesses – automotive manufacturing & distribut...

MARC has upgraded the rating of Reliance Pacific Berhad’s (RPB or group) RM100 million Redeemable Secured Bonds (2001/2006) to A- (A minus). The upgrade is underpinned by the improvement in the travel and tourism industry and the group’s improved financial profile. The group returned to profitability after three consecutive years of losses whilst operating cash flow level returned to the black...

MARC has assigned a rating of A (A Flat) to Haisan Resources Berhad (HRB)’s proposed RM30 million bond; reflecting its strong competitive position in the refrigeration and ice industry, the assignment of specific contract proceeds towards redemption of the bonds, and its good operating profit margin and manageable debt leverage position. The rating is, however, moderated by the Group’s vulnera...

MARC has received confirmation from Bumi Armada Navigation Sdn Bhd that its RM80 million Murabahah Notes Issuance / Islamic Medium-Term Notes facility has been fully redeemed and it has arranged for the release/discharge of the security created in respect of the above facility. As such, MARC no longer has any rating obligation on the facility and the MARC-1ID/AA-ID rating is hereby withdrawn....

The ratings of Atlan Holdings Berhad’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 had been affirmed at MARC-2ID and AID (A flat, islamic debt). The ratings affirmation reflects Atlan’s diversified business and good competitive position, which is ...

MARC has received confirmation from the trustee that the Tranche No. 4 of OSKP’s BaIDS amounting to RM25.0 million had been redeemed on 20 May 2005, prior to its maturity date of 6 April 2011. The trustee had also confirmed that the early redemption is in order and complies with the trust deed. After the aforementioned redemption, the current outstanding BaIDS stands at RM75.0 million....

MARC has reaffirmed Bumi Armada Navigation Sdn Bhd’s (“BAN”) MARC-1 / AA-ID ratings assigned to its RM80 million Murabahah Notes Issuance Facility (MUNIF) / Islamic Medium-Term Notes (IMTN) (2000/2005). The reaffirmation reflects the company’s leading position in the area of providing marine transportation for the offshore oil and gas industry; its long-term contracts with leading oil and ...

MARC has downgraded the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM372 million and RM226 million of class B and class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) asset-backed securities (ABS) facility with a developing outlook. The downgrades are premised on the construction delays experienced on the Taman Puncak Jalil development brought about by the repatriation of illegal forei...