MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relation ...

MARC has affirmed its rating on Sunrise Berhad’s RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins, large future expected billings from contracted sales (unbilled sales), fairly sizeable land bank to sustain developments...

MARC has assigned the ratings of MARC-1IS(fg)/AAAIS(fg) to LBS Bina Group Bhd’s (LBS-GB, or the Group) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN, or Sukuk) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in ...

MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to property developer Syarikat Kapasi Sdn Bhd’s (SKSB) RM200 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relat...

MARC has withdrawn its rating of A-ID on OSK Property Holdings Bhd’s RM50 million Class B Serial Bai-Bithaman Ajil Islamic Debt Securities (Class B BaIDS) with immediate effect. The rating withdrawal follows the final redemption of its outstanding RM17.5 million on the Class B BaIDS on April 6, 2010 and cancellation of the facility, as confirmed by its facility agent, OSK Investment Bank Ber...

MARC has affirmed the ratings of MARC-1/AAA on the RM125 million Class A notes and MARC-1/AA on the RM50 million Class B notes of Mutual Streams Sdn Bhd’s (Mutual Streams) RM650 million Commercial Papers/Medium Term Notes (CP/MTN) programme. The outlook on the ratings is stable. The ratings mainly reflect the satisfactory performance of the securitised property which has generated better-tha...

MARC has affirmed its ratings of MARC-1/AAA, MARC-1/AA and MARC-1/A on Gandalf Capital Sdn Bhd’s (Gandalf Capital) RM118.0 million Commercial Papers/Medium Term Notes Programme (the notes) comprising RM87 million Class A, RM16 million Class B  and RM15 million  Class C notes respectively. The ratings carry a stable outlook. The affirmed ratings are premised on the low loan-to-value...

MARC has affirmed its A rating on Berjaya Land Berhad's (BLand) Secured Exchangeable bonds due 2011. Concurrently, MARC has revised the rating outlook from developing to stable to reflect reduced liquidity concerns with the expiry of bond put options substantially unexercised. The current outstanding principal amount is RM711 million, reduced from RM882.0 million since MARC's last rating action in...

MARC has affirmed its AAIS rating on special purpose vehicle Diversified Venue Sdn Bhd’s (DVSB) RM200 million Sukuk Al-Ijarah Master Programme, with the rating outlook maintained at stable. The proceeds from the issue were used to fund the purchase of Mercu UEM, UEM Group Berhad’s (UEM) corporate headquarters, from First Impact Sdn Bhd (FISB). The affirmed rating reflects the credit st...

MARC has affirmed the ratings on Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP)/Medium Term Notes (MMTN) with a nominal value of up to RM300 million at  MARC-1ID(cg)/AA-ID(cg). The ratings carry a stable outlook. The ratings are based on the support provided by a corporate guarantee extended by Gamuda Berhad (Gamuda) for the MCP/MMTN programme issued by its indirec...