MARC has upgraded the rating of Kelang Multi Terminal Sdn Bhd’s (KMT) RM350 million Floating Rate Notes (FRN) to AA (from AA-), reflecting the company’s consistently strong operational performance underlined by the steady growth in container throughput; commendable financial profile as well as the Government’s participation in developing Port Klang into a Transshipment and Megahub/Free Trade...

MARC has assigned ratings of A+ID and MARC-1ID/A+ID to WCT Engineering Berhad’s (“WCT”) proposed Islamic Fixed Rate Serial Bonds of RM100 million and 7-year Islamic Commercial Papers/Medium Term Notes Programme of up to RM100 million (“Islamic CP/MTN”) (collectively known as Islamic Securities or IS). Concurrently, we have also reaffirmed WCT’s existing RM120 million 5% Redeemable Unse...

The rating of TH Group Berhad’s (THG) RM150 million BaIDS is reaffirmed at AID reflecting THG’s continued strong results on the back of steady growth in revenue and profit stemming from the good performance of its plantation and construction divisions. Some of the moderating factors include volatility in CPO prices, seasonal factors affecting crop production, cyclical developments in the domes...

MARC has assigned the ratings of A+ID and MARC-1ID/A+ID to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Berhad) Istisna’ Medium Term Notes (Istisna’ MTNs) and Murabahah Commercial Papers/Medium Term Notes (MCP/MMTN) facilities. The ratings reflect SapuraCrest Petroleum Berhad’s (SapuraCrest) competitive position as one of the largest Malaysian-owned integrated services provid...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AAAID to Musyarakah One Capital Berhad’s (Musyarakah One) RM103.62 million Sukuk Musyarakah Series 2005-B. This series is the second issuance of a RM2.5 billion Sukuk Musyarakah Programme.Musyarakah One Capital Berhad (“Musyarakah One”), is a bankruptcy remote special-purpose vehicle incorporated for the purpose o...

MARC has lowered its rating on ABI Malaysia Sdn Bhd’s (ABIM) RM80 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) to A- ID from A ID and concurrently places the BaIDS facility on MARC Watch with a Negative Outlook. The rating actions reflect the negative impact arising from its holding company, Polymate Holdings Berhad being placed under Practice Note 1/2001 of Bursa Securities of ...

MARC has assigned a corporate credit rating of A+ to Kemaman Bitumen Company Sdn Bhd (KBC). The rating is underpinned by its position as the only dedicated bitumen manufacturer in Malaysia once operational; a ten-year off-take agreement with Tipco Asphalt Public Company Limited (TASCO); capable Engineering, Procurement and Construction (EPC) contractors to minimize construction risks; and the exis...

MARC has assigned Weida (M) Bhd’s (“Weida”) RM100.0 million Murabahah Underwritten Notes/Islamic Medium-Term Notes facility ratings of MARC-1ID /A+ID which reflects, amongst others, the Group’s reputable position as a manufacturer of high density polyethylene (“HDPE”) engineering products for the water and sewerage industry; its historically strong financial performance and positive ca...

MARC has assigned the ratings of AAA and AA+ to IJN Capital Sdn Bhd’s RM100 million Sukuk Musyarakah with maturities of seven (7) years or less from the date of first issue and RM109 million Sukuk Musyakarah with maturities of more than seven (7) years from the date of first issue, respectively. The ratings stem from Institut Jantung Negara Sdn Bhd’s (IJN) position as one of the leading cardi...

MARC has lifted the MARC Watch (with developing outlook) placed on Ambang Sentosa Sdn Bhd’s (ASSB) RM372 million and RM226 million Class C BaIDS/ABS Facility following the approval by bondholders to restructure the Class B and Class C BaIDS. MARC has on 8th June 2005 announced the downgrades (with a developing outlook) on ASSB’s Class B and Class C BaIDS from A+ID to AID and AID to A-ID resp...