MARC has upgraded the rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) rating to AAID. The rating upgrade is a reflection of the continuous traffic growth at the KL–Karak Highway (KLK) and the strength of the company’s financial profile underpinned by the strong revenue and pre-tax profit growth following the contribution from the East Coast Expr...

MARC has reaffirmed the ratings of Petronas Assets Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:IssueBai Al-Dayn Notes Issuance Facility (NIF) with a nominal value of up to RM282 millionRatingAAAID IssueMurabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a nominal value of RM500 millionRatingMARC-1ID/AAAID The reaffirmation of the ratings reflects the credit st...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:Issue 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs)RatingMARC-1ID/AAAIDIssue8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)RatingAAAIDIssue13...

MARC has received confirmation that the second series of SESB’s Al-Bai Bithaman Ajil Secured Serial Debt Securities (2002/2008) amounting to RM25.0 million had been redeemed on 14 December 2005. After the aforementioned redemption, the current outstanding BaIDS Facility stands at RM95.0 million....

MARC has reaffirmed the rating of Special Port Vehicle Bhd’s (SPV) RM1,310.0 million nominal amount asset-backed serial bonds facility. The rating affirmation is premised on the superior credit rating of the Government of Malaysia (GOM) backing Port Klang Authority (PKA), the obligor under the transaction; minimal exposure to construction risk with completion of infrastructure works as at end De...

MARC has placed the rating of Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS) (rated A) on MARCWatch with Developing Outlook. It has been made known to us that there is a proposal by the Johor State Government (JSG) to restructure the water supply services in the state of Johor. In our discussion with the management of AIRB, we have been...

MARC has reaffirmed the ratings of TSH Resources Bhd’s (TSH) RM100 million in nominal value Al-Murabahah Commercial Papers/Medium-Term Notes (CPs/MTNs) at MARC-1ID/A+ID. The reaffirmation reflects the sturdy performances of TSH’s diversified business portfolio of palm oil milling and plantations, manufacturing of engineered solid hardwood flooring products, biomass power generation as well as ...

MARC has assigned a long term rating of AA-ID to Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (“SPRINT”) RM510 million Al-Bai’ Bithaman Ajil Islamic Facility (“Restructured BaIDS”) to restructure the existing RM510 million Al-Bai Bithaman Ajil Islamic Debt Securities issued in August 2001 (“BaIDS 2001”). Concurrently, we have reaffirmed the rating of SPRINT’s RM365 million Bank Gu...

MARC has received confirmation that Sistem Penyuraian Trafik KL Barat Sdn Bhd has made an early redemption of the entire issuance of the RM510 million Al-Bai Bithaman Ajil Islamic Debt Securities issued in 2001(2001 BaIDS). Accordingly, MARC no longer has any rating obligation on the 2001 BaIDS and the rating of A-ID is hereby withdrawn...

MARC has reaffirmed the rating of Tian Siang Holdings Sdn Bhd (Tian Siang)’s RM93 million nominal value coupon bearing serial bonds (Serial Bonds) at A (A Flat). The reaffirmation reflects the Group’s improving profitability and consistent operational efficiency. Nevertheless, a moderating factor to the rating is the cyclical nature of palm oil industry largely due to potential fluctuation in ...