MARC has assigned rating of A+ID/MARC-2ID to Emas Kiara Industries Berhad’s (“EKIB”) Partially Underwritten Murabahah Notes Issuance Facility/Islamic Medium-Term Notes Issuance Facility (“MUNIF/IMTN”) Programme of up to nominal value of RM80 million. The rating assignment is a reflection of EKIB’s position as a leading market player in the geosynthetic products segment in Malaysia; the...

MARC has received written confirmation on 29 November 2005 from Malaysian Trustees Berhad, the Trustee of PHS’ BaIDS; that the Tranche V BaIDS was fully redeemed on 17 November 2005.Accordingly, MARC has lifted the rating watch and simultaneously withdrew the rating of the Tranche V BaIDS....

MARC has assigned an Islamic debt long term rating of AAAID to Putrajaya Holdings Sdn Bhd’s (“PJH”) proposed RM2.2 billion Islamic Medium-Term Notes (“IMTN”) Programme. The rating reflects PJH’s solid capitalization underlined by the strong set of shareholders, exceptionally strong financial flexibility and the strategic importance of PJH in the development of Putrajaya as the nation�...

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

MARC has affirmed KFC Holdings (Malaysia) Bhd’s (“KFCH”) RM300.00 million Islamic Notes Issuance Facility (INIF) rating of A+ID, with developing outlook. KFCH is an investment holding company with subsidiaries involved in restaurant operations, convenience food store chain, integrated poultry operations and other related ancillary operations.The ratings outlook reflects the uncertainty posed...

MARC has assigned the ratings of A+ to Class A Notes (RM240.0 million); A to Class B Notes (RM120.0 million) and BBB+ to Class C Notes (RM60.0 million) under RCE Advance Sdn Bhd’s (RCEA) (formerly known as Perfect Aspirations Sdn Bhd) proposed Fixed Rate Medium-Term Notes programme (referred to as the Facility). The ratings are a reflection of the three month collateral ratio to be maintained at...

MARC has reaffirmed Dialog Group Berhad (“DIALOG”)’s corporate credit rating at AA- (Double A minus), underpinned by DIALOG’s commendable balance sheet and cash flow position resulting from the Group’s prudent financial policy as well as its strong competitive position and safety track record in the highly specialized oil, gas and petrochemical industries. The corporate credit rating is,...

MARC has assigned indicative rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) RM[2,060.0] million secured fixed-rate serial bonds. The rating is based on the stringent core and portfolio eligibility criteria, aimed at partially mitigating risk of delinquencies and defaults further reinforced by representations and warranties provided by the Federal Government of Malaysia (GOM); deductions of...

MARC has assigned the rating of AAAIS to Sacofa Sdn Bhd’s (SACOFA) and Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah respectively. The strong ratings reflect, amongst others, SACOFA’s exclusive rights to construct, own and manage the telecommunication towers and structures in the State of Sarawak; the licensing agreement entered...

MARC has affirmed the AA+ID rating of Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the project’s stable and predictable cash flow supported by the contracted capacity payments as well as the credit strength of the off-taker cum majority shareholder, Tenaga Nasional Bhd (TNB). TNB carries an issuer rating of AA+ fr...