MARC has been duly informed by WCT Land Berhad (WCTL) and the trustees of WCTL’s CRDS-A (rated A-flat by MARC) of the postponement of interest payment payable to the CRDS holders from 2 February 2005 to 7 February 2005 due to procedural delays. At the time of this announcement, the interest and late interest charges payable to the CRDS holders have been remitted into the relevant designated acco...

MARC has upgraded the short and long term ratings of Ranhill Berhad’s (“Ranhill”) partially underwritten RM300.0 million Murabahah Commercial Papers (MCP) / Murabahah Medium Term Notes (MMTN) to MARC-1ID/A+ID respectively. The upgrade is underpinned by the Group’s diversification into the power and water sectors which provide a stable income stream to mitigate the cyclical nature of the co...

MISC’s recent announcement that it has entered into an agreement with First Financial Corporation to dispose 32 of its bulk vessels for USD740 Million (RM2.8 billion) is viewed positively by MARC. The disposal would effectively reduce MISC’s exposure to the volatility of the bulk vessel sector as well as enabling the Group to further strengthen its position as a premier player in the energy-re...

MARC has received confirmation from the Facility Agent, RHB Sakura Merchant Bankers Berhad, that Kertih Terminals Sdn Bhd’s RM500 Million Revolving Underwritten Facility with Term Loan Conversion (1999/2004) has been fully settled. As such, MARC no longer has any rating obligation on the Facility and the respective MARC-1 rating is hereby withdrawn....

MARC has affirmed Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC 2ID reflecting the strength of the issue structure, which includes the assignment of contract proceeds for the purpose of redeeming the MONI and BAIDS facilities; its relatively good business position and proven track record which enable the company to sustain its...

The rating reflects IJM Corporations Berhad’s (IJM) consistently strong financial results, the ability to sustain its competitive position domestically and internationally and the diversity of its business. Moderating factors include the increasing competitiveness in the domestic construction environment compounded by the difficult building materials industry, and the inherent risks in each busi...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs):MARC-1ID/AAAID7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTN...

MARC has reaffirmed the long term rating of A on Puncak Niaga Holdings Berhad’s (PNHB) RM546.875 million Redeemable Unconvertible Junior Notes (RUN) with detachable warrants. The rating is similar to the rating of Puncak Niaga (M) Sdn Bhd’s Junior Notes A (A notes), which has also been reaffirmed. The rating reaffirmation is a reflection of the perfected security interest of the RUN where it i...

MARC has reaffirmed the ratings of Puncak Niaga (M) Sdn Bhd’s (PNSB) RM1,020 million Bai Bithaman Ajil Islamic Serial Bonds, RM350 million Murabahah Commercial Papers/Murabahah Medium Term Notes and RM546.875 million Junior Notes at AAID, MARC-1ID/AAID and A respectively. The reaffirmation reflects the Federal Government’s assistance in the partial settlement of the long outstanding trade rece...

MARC has reaffirmed the rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) rating at AA-ID. This reflects the continuous traffic growth at the KL – Karak Highway being above the Government’s guaranteed traffic volume; and the strength of the company’s financial profile underpinned by the strong revenue growth.MTD Prime is the concession holder of...