The ratings of Atlan Holdings Berhad’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities had been affirmed at MARC-2ID and AID (A flat, islamic debt). The ratings affirmation reflects Atlan’s diversified business and good competitive position, which is ...

MARC has received confirmation from the trustee that the Tranche No. 4 of OSKP’s BaIDS amounting to RM25.0 million had been redeemed on 20 May 2005, prior to its maturity date of 6 April 2011. The trustee had also confirmed that the early redemption is in order and complies with the trust deed. After the aforementioned redemption, the current outstanding BaIDS stands at RM75.0 million....

MARC has reaffirmed Bumi Armada Navigation Sdn Bhd’s (“BAN”) MARC-1 / AA-ID ratings assigned to its RM80 million Murabahah Notes Issuance Facility (MUNIF) / Islamic Medium-Term Notes (IMTN) (2000/2005). The reaffirmation reflects the company’s leading position in the area of providing marine transportation for the offshore oil and gas industry; its long-term contracts with leading oil and ...

MARC has downgraded the long-term ratings of Ambang Sentosa Sdn. Bhd.’s (ASSB) RM372 million and RM226 million of class B and class C Al-Bai Bithaman Ajil Islamic debt (BaIDS) asset-backed securities (ABS) facility with a developing outlook. The downgrades are premised on the construction delays experienced on the Taman Puncak Jalil development brought about by the repatriation of illegal forei...

The ratings of MARC-2/A- assigned to Equine Capital Berhad’s (ECB) Commercial Papers /Medium-Term Notes Programme of up to RM95 million (CP/MTN Programme) reflects the ECB group’s strong competitive position through its flagship developments in Seri Kembangan and its credible track record of timely completion of quality projects. Mitigating the ratings are the inherent cyclicality of the prop...

MARC has assigned short and long term-ratings of MARC-2ID and AID respectively to Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility /Islamic Medium-Term Notes (“MUNIF/IMTN”) of up to RM100.0 million. The ratings reflect the group’s profile as an integrated garment manufacturer; long established relationship with a major international sports brand and supe...

MARC International has reaffirmed the rating of First Global Sukuk Inc.’s Serial Islamic Lease Sukuk Issuance of up to USD368 million at A-IS, reflecting Kumpulan Guthrie Berhad’s (as the lease paymaster) strong position as one of the country’s leading plantation players cum property developer with vast land banks in Malaysia and Indonesia; strong financial flexibility and the anticipation o...

MARC has received confirmation from Abrar Discount Berhad as the facility agent for Priceworth Wood Products Berhad’s RM60 million MONI facility that the facility has been fully redeemed and cancelled and all agreements related to the facility has been terminated accordingly. As such, MARC no longer has any rating obligation on the facility and the AID / MARC-2 ID rating is hereby withdrawn....

The rating reflects Priceworth Wood Products Berhad (Priceworth) Group’s improving financials underpinned by growing timber extraction activity/contracting services coupled with high operational integration pertaining to its manufacturing activities. The Group’s vulnerability to cyclical developments affecting the timber/wood-based industry remains a moderating factor to the rating.Promoted t...

MARC has received confirmation from the facility agent that Series A under Tranche I of Maxisegar Sdn Bhd’s RM250 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) amounting to RM10.0 million was redeemed on 25 February 2005. Hence, effective 26 February 2005, the facility limit has been reduced to RM240.0 million, taking into consideration the abovementioned redemption.Todate, only T...