MARC has received confirmation from SAJ Holdings Sdn Bhd that its RM680 million BaIDS has been fully redeemed. As such, MARC no longer has any rating obligation on the Facility and the AID rating is hereby withdrawn....

Lonpac Insurance Bhd’s (Lonpac) general insurance strength rating has been affirmed at AA based on the Company’s well-diversified insurance book; stewardship; strong distribution channels in particular, through the closely affiliated Public Bank group; relatively conservative investment policy; solid liquidity profile and adequate capitalization. These strengths, however, continued to be mode...

MARC has reaffirmed the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil debt securities. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District as a primary urban road linking the populous districts of Balakong, Sungai Long, Semenyih, Bangi, Kajang and Se...

MARC has upgraded Boustead Plantation Berhad’s (Boustead Plantation) (formerly known as Kuala Sidim Berhad) long-term rating under Tranche 1 from A(BG) to A+(BG) and reaffirmed the rating of Tranche 2 at A-. Meanwhile the short term ratings of Tranche 1 and 2 are reaffirmed at MARC-1 and MARC-2 respectively. The RM50 million Tranche 1 upgrade reflects the unconditional and irrevocable guarantee ...

MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...

MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...

MARC has reaffirmed Malaysia International Shipping Corporation Berhad’s (MISC) MARC-1ID/AAAID ratings on its RM1.5 billion Murabahah Commercial Paper / Medium-Term Notes Programme (2000/2005). The reaffirmation of the ratings is predicated by the Group’s solid operating fundamentals; its dominant position in the Malaysian shipping industry particularly the liquefied natural gas segment; exten...

MARC has assigned a long-term rating of AA- ID (Double A Minus Islamic Debt) to SAJ Holdings Sdn Bhd’s (SAJH) RM1.28 billion Bai Bithaman Ajil Serial Bonds which will be utilized to redeem the existing RM680 million BaIDS and to part finance SAJH’s capital expenditure. The rating is supported by its proven operating and financial track record; Johor state’s growing water demand; a tariff set...

MARC has assigned rating of AAA to Cagamas MBS Berhad’s (Cagamas MBS) RM1,555.0 million secured fixed-rate serial bonds. The rating is based on the stringent core and portfolio eligibility criteria of the securitized mortgages, comprising mortgages of government pensioners only, the representation and warranty provided by the Originator, the Federal Government of Malaysia (GOM); deduction of mo...

MARC has assigned ratings of AAA and AAA/MARC-1 to Transshipment Megahub Berhad’s (TMB) RM1,095.0 million 8-year fixed rate serial bonds and up to RM360 million 7-year underwritten commercial papers/ medium-term notes (CP/MTN) facility, respectively. TMB is a special purpose company, wholly owned by Kuala Dimensi Sdn Bhd (KDSB), with the principal activities of issuing RM1,095.0 million fixed-r...