MARC has reaffirmed Road Builder (M) Holdings Bhd’s (RBH) corporate credit rating of A+. The rating reaffirmation is reflective of RBH’s diversified earnings base which protects the Group from a downturn in any industry in which it is operating; its highly regarded name as a successful and competitive contractor in the civil engineering and building segment; experienced management team; and st...

MARC has assigned a rating of A (A flat) to Aliran Ihsan Resources Berhad’s (AIRB) redeemable convertible unsecured loan stocks (RCULS). AIRB was set up as the corporate vehicle to undertake the various corporate and debt restructuring schemes and to assume the listing status of RNC Corporation Berhad (Special Administrators Appointed) (RNC), an affected listed issuer under the Securities Commis...

MARC has reaffirmed the long-term ratings of Auto ABS One Bhd’s (Auto ABS) RM510.0 million Class A bonds at AAA. This is premised on the portfolio of hire purchase receivables performing within stressed expectations, the availability of gross overcollateralization of 107.0% and a non-amortizing cash reserve equivalent to 2.5% of the nominal value of the bonds.Under the first tier of a two-tiered...

MARC has reaffirmed the ratings of Sime Darby’s RM1,500 million Al-Murabahah Commercial Papers/ Medium-Term Notes (CP/MTN) at MARC-1ID/AAAID respectively. The reaffirmation of Sime Darby’s corporate debt ratings reflects the diversity of the Group’s business, its solid capitalization, resilient profitability levels, strong cash flow position, exceptional financial flexibility and their conti...

MARC has affirmed the rating of Bintang Bulk Mover Sdn Bhd’s (BBM) RM50 million 5-year secured serial bond at A-(A minus). The affirmation was premised on the Group’s strong operating performance and stable revenue stream, supported in particular by its long term cement transportation contracts with Lafarge Malayan Cement Bhd (LMCB), the largest local cement manufacturer. The affirmation also ...

MARC has upgraded the ratings of Negeri Sembilan Cement Industries Sdn Bhd’s (NSCI) RM200.0 million Bai’ Bithaman Ajil Islamic Bonds (BaIDS) to A+ID(bg) (A Plus, Islamic Debt, Bank Guaranteed) and the long-term rating of its RM130.0 million Murabahah Notes Issuance Facility (MUNIF) to A-ID (A Minus, Islamic Debt), while the short-term rating of the MUNIF was affirmed at MARC-2ID. The upgrade o...

MARC has received confirmation from IJM Corporation Berhad that its RM150.0 million nominal value Redeemable Unsecured Bonds (2000/2005) was fully redeemed on 28 February 2005 and has cancelled and terminated all agreements related to the facility. As such, MARC no longer has any rating obligation on the facility and the A+ID rating is hereby withdrawn....

MARC has assigned a short term rating of MARC-2ID to M-Trex Corporation Sdn Bhd’s (MCSB) proposed 7-year RM60 million Islamic Commercial Paper Programme under the financing principle of Murabahah. The rating is premised on MCSB’s position as the leading local manufacturer of anodised aluminium panels for the mid to high end audio video equipment market, exclusive agency rights to distribute ca...

MARC has assigned ratings of A+ID on Intelbest Sdn Bhd’s (“ISB”) RM20 million Series 1 BaIDS, AID on RM35 million Series 2 and RM55 million Series 3 BaIDS and MARC-1ID on its RM50 million MUNIF. The ratings reflect the strength of the issue structure, which includes the assignment of the redemption sum and progress billings of locked in sales and future sales for the purpose of the redemptio...

MARC has reaffirmed the rating of KLSSB’s tranches 2A, 2B, 3, 4A & 4B BaIDS totaling RM800 million at AID(s), reflecting the support provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) by way of a standby revolving credit facility. The Tranche 1 BaIDS was fully settled in April 2004.Kuala Lumpur Sentral’s commercial development is divided into four phases. As at October 2004, ...