MARC has assigned a rating of AAA to Gerbang Perdana CIQ Sdn Bhd’s proposed RM1.7 billion Seven Year Medium Term Notes issuance programme. The rating reflects the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to pay the acknowledged sum on the stipulated date stated on the Facility Payment Certificate (“FPC”). Each FPC will then be assigned to each tranche o...

MARC has reaffirmed the ratings of Perak-Hanjoong Simen Sdn Bhd’s (PHS) RM698 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) Tranche I (RM370 million) at AAAID(bg) (Triple A, Islamic Debt, Bank Guaranteed), Tranche II (RM50 million) AID(bg) (Single A, Islamic Debt, Bank Guaranteed) and Tranche IV (RM168 million) at A+ID(bg) (Single A Plus, Islamic Debt, Bank Guaranteed) and upgrade...

The short- and long-term ratings of MARC-2ID and A ID for LEADER’s proposed private debt securities reflects the Group’s position in the cables and wires manufacturing industry as well as the stable revenue arising from its power generation business in Cambodia. Moderating factors include the low margins of its cable and wire products, and the Group’s relatively high debt-leverage at present...

MARC has received confirmation from SAJ Holdings Sdn Bhd that its RM680 million BaIDS has been fully redeemed. As such, MARC no longer has any rating obligation on the Facility and the AID rating is hereby withdrawn....

Lonpac Insurance Bhd’s (Lonpac) general insurance strength rating has been affirmed at AA based on the Company’s well-diversified insurance book; stewardship; strong distribution channels in particular, through the closely affiliated Public Bank group; relatively conservative investment policy; solid liquidity profile and adequate capitalization. These strengths, however, continued to be mode...

MARC has reaffirmed the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil debt securities. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District as a primary urban road linking the populous districts of Balakong, Sungai Long, Semenyih, Bangi, Kajang and Se...

MARC has upgraded Boustead Plantation Berhad’s (Boustead Plantation) (formerly known as Kuala Sidim Berhad) long-term rating under Tranche 1 from A(BG) to A+(BG) and reaffirmed the rating of Tranche 2 at A-. Meanwhile the short term ratings of Tranche 1 and 2 are reaffirmed at MARC-1 and MARC-2 respectively. The RM50 million Tranche 1 upgrade reflects the unconditional and irrevocable guarantee ...

MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...

MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...

MARC has reaffirmed Malaysia International Shipping Corporation Berhad’s (MISC) MARC-1ID/AAAID ratings on its RM1.5 billion Murabahah Commercial Paper / Medium-Term Notes Programme (2000/2005). The reaffirmation of the ratings is predicated by the Group’s solid operating fundamentals; its dominant position in the Malaysian shipping industry particularly the liquefied natural gas segment; exten...