Kurnia Insurans (Malaysia) Berhad’s (Kurnia) general insurance strength rating has been upgraded to A+ to reflect the Company’s ability to maintain its leadership in the Malaysian motor insurance industry for the past eight consecutive years, realize its business strategies, improve its business operations, as well as its continuous success in introducing innovative products into the market. ...

MARC has assigned a rating of AID (A flat, Islamic Debt) to ARL Tenaga Sdn Bhd’s (ARLT) proposed RM50.0 million Islamic Medium-Term Notes. The assigned rating reflects the stable and predictable cash flow which is expected to cover the company’s debt servicing requirements comfortably; the presence of a long-term fuel supply contract which eliminates supply disruption risk; and an issue struct...

The upgrade of Sunrise Berhad’s (Sunrise) long-term rating of AID to A+ID reflects the company’s position as an established and successful condominium developer, evident from its signature development in Mont’Kiara (MK); strong financial position coupled with promising cash flow generation capacity, going forward. The short term rating has been maintained at MARC-2ID. Sunrise’s rating upgr...

MARC has upgraded the rating of MK Land Holdings Berhad’s (MK Land) RM150 Million Nominal Value of 3,5 and 7 year bonds with 142.1 million warrants (2001-2008) – Tranche 1 and RM150 Million Nominal Value of 3,5 and 7 year bonds with 142.1 million warrants (2002-2009) – Tranche 2; from A to A+. This is based upon the company’s excellent business position, its strong financial position and ...

MARC has upgraded the long-term rating on Gas District Cooling (KLIA) Sdn Bhd’s (GDC KLIA) RM207 Million Murabahah Commercial Paper/Medium-Term Notes to AAID while the short term rating has been reaffirmed at MARC-1. The ratings reflect GDC KLIA’s captive offtake demand for its chilled water and electricity, strong shareholder support, consistent financial performance reflected by improving de...

MARC has received confirmation from Motosikal Dan Enjin Nasional Sdn Bhd that its RM80 million MUNIF facility has been fully redeemed and it has arranged for cancellation of the facility and termination of all agreements related to the facility. As such, MARC no longer has any rating obligation on the facility and the MARC-2ID rating is hereby withdrawn....

MARC has affirmed the rating of Sime Darby Berhad’s (Sime Darby) RM1,500 million Al-Murabahah Commercial Papers/ Medium Term Notes (CP/MTN) at MARC-1ID/AAAID respectively. The affirmation of Sime Darby’s corporate debt ratings reflect the diversity of the Group’s business, its solid capitalization, resilient profitability levels, strong cash flow position and exceptional financial flexibilit...

MARC has received confirmation from the Lead Arranger and Trustee that a portion of Europlus Corporation Sdn Bhd’s RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) amounting to RM37.0 million has been fully redeemed on 22 March 2004. Hence, effective 22 March 2004, the facility limit has been reduced to RM233.0 million, taking into consideration the abovementioned redemption ...

MARC has assigned the ratings of AID(bg) To Negeri Sembilan Cement Industries Sdn Bhd’s RM200.0 million Bai’ Bithaman Ajil Islamic Bonds (BaIDS) and MARC-2/BBB+ID to its RM130.0 million Murabahah Notes Issuance Facility (MUNIF). The rating assigned to the proposed BaIDS is reflective of the strength of irrevocable unconditional guarantees provided by a consortium of banks evaluated using the w...

MARC has assigned a rating of AID (A flat, Islamic debt) and A-ID (A minus, Islamic debt) to OSK Property Holdings Berhad (OSKP)’s Class A and B Serial Bai-Bithaman Ajil Islamic bonds (BaIDS) respectively. The A-ID rating assigned to Class B BaIDS reflects OSKP’s favourable flagship development – Bandar Puteri Jaya (BPJ) located in Sungai Petani, Kedah and its strong presence in that area; t...