MARC has reaffirmed the long-term rating of Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) RM2.01 billion Al-Bai’ Bithaman Ajil debt securities at AID. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District. Project demand is further underpinned by the Ring Road’s function as a primary urban ...

MARC has upgraded Kuala Sidim Berhad’s (KSB) RM50 Million Guaranteed Commercial Papers / Medium-Term Notes (Tranche 1) to MARC-1(bg) / A(bg) (A flat) and RM50 Million Commercial Papers / Medium-Term Notes (Tranche 2) to MARC-2 / A- (A minus). KSB’s rating upgrades for Tranche 1 reflect the unconditional and irrevocable guarantee provided by Southern Bank Berhad (SBB) while that of Tranche 2 re...

MARC has affirmed the short-term and long-term ratings of Hong Leong Credit Berhad’s (HLC) commercial papers and Medium-Term Notes programme at MARC-2 and A- respectively. This reflects the strong fundamentals of HLC’s subsidiaries as well as the improved double leverage and stable debt-equity. The rating is moderated by the competitive banking and finance environment and the potential limitat...

MARC has placed the rating of KLSSB’s Tranche 1 BaIDS of RM91 million (original limit: RM120 million) of A-ID on MARCWarch with developing implications, reflecting MARC’s concerns over KLSSB’s ability to collect the remaining billings of RM125 million from Promising Quality Sdn Bhd (PQSB) for Lot G at KL Sentral, which would be crucial for the repayment of the Tranche 1 BaIDS. On 21 October ...

MARC has reaffirmed the ratings of Perak-Hanjoong Simen Sdn Bhd’s (PHS) RM698.0 million Al Bai’ Bithaman Ajil Secured Serial Bonds Facility at AAAID (Triple A, Islamic Debt) for Tranche I, AID (Single A, Islamic Debt) for Tranche II, A+ID (Single A Plus, Islamic Debt) for Tranches III and IV and BBB-ID for Tranche V. The affirmation of the ratings for Tranche I to Tranche IV reflects the stren...

The ratings assigned reflect Premium Nutrients Group’s competitive position as an integrated producer of specialty fats; and the structural features in the issue structure. The rating, however, is moderated by the Group’s thin operating profit margin, limiting its ability to leverage on its balance sheet.A KLSE Second-Board listed entity, Premium Nutrients Group is principally involved in the ...

MARC has reaffirmed the ratings of Tenaga Nasional Berhad’s (TNB) private debt securities namely; RM1.5 billion Murabahah Commercial Papers and Murabahah Medium-Term Notes (2002/2009) (MARC-1ID/AA+ID); RM2.0 billion Al-Bai’ Bithaman Ajil Bonds (AA+ID); RM500 million 8-year Fixed Rate Unsecured Bonds (AA+); and RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility (AA+ID/MARC-1ID) and t...

MARC has assigned the ratings of MARC-2ID/AID to EP Manufacturing Bhd’s (EPMB) proposed RM150.0 million private debt securities (PDS). The ratings reflects the Group’s position as a Tier-1 parts vendor for the national carmaker, PROTON, via its subsidiary; PEPS-JV (M) Sdn Bhd (PEPS-JV). Moderating factors include the inherent risks of the automotive industry as well as its dependence on the sa...

MARC has affirmed the rating of AAAID on GDC Putrajaya Sdn Bhd’s (GDC Putrajaya) Al-Bai’ Bithaman Ajil Islamic Debt Securities. The rating affirmation reflects the significance of the project in providing the supply of chilled water to all Government premises in Putrajaya; the superior credit strength of the main offtakers, that is the Government and Putrajaya Holdings Sdn Bhd (PJH); and the s...

MARC has reaffirmed the rating of Kertih Terminals Sdn Bhd’s (KTSB) RM500 million revolving underwritten facility with term loan conversion (1999/2004) at MARC-1. The rating reflects the company’s strong financial position, stable and predictable cash flows generated from the long term contracts by the terminal users as well as financially strong and established shareholders.KTSB was incorpora...