MARC has reaffirmed the ratings of Petronas Assets Sdn Bhd’s Bai Al-Dayn Notes Issuance Facility with a nominal value of RM282 million at AAAID (Triple AAA, Islamic Debt) and Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a nominal value of up to RM500 million at MARC-1ID/AAAID. The reaffirmation of the ratings reflects the credit strength of Petroliam Nasional Berhad (...

MARC has upgraded the long-term rating of Commerce Asset-Holding Berhad (CAHB) to A+ (single A plus). This reflects the strengthened credit standing of the CAHB Group, which benefited from the strong franchise of its core subsidiaries; a better performance by its commercial banking subsidiary; the improvement in its overall asset quality; a low gearing level; and a proactive management. The rating...

MARC has assigned a rating of AID (A flat, Islamic debt) to Maxisegar Sdn Bhd’s (MSB) Al Bai Bithaman Ajil Islamic debt securities (BAIDS) with a nominal value of RM250 million. The assigned rating reflects MSB’s strong competitive position and good location of its property developments; tempered by its vulnerability to adverse developments in the property market.MSB, a wholly owned subsidiary...

MARC has upgraded the general insurance financial strength rating of Lonpac Insurance Berhad (Lonpac) from AA- (double AA minus) to AA (double AA flat) based on the insurer’s stable management style, a diversified premium base, its strategic link with the Public Bank group, a comparably conservative investment portfolio, manageable liquidity and sound capitalization base. These strengths are, h...

MARC has upgraded the rating of WCT Engineering Berhad’s (WCT) RM120.0 million 5% Redeemable Unsecured Bonds with detachable warrants (2000/2005) from A-(s) to A(s), based upon the strengthening financial profile of WCT, underpinned by the strong performance of its civil engineering/construction and property development divisions. The rating continues to be supported by a RM15 million irrevocabl...

Puncak Alam Housing Sdn Bhd’s (PAH) rating has been upgraded to AID (single A, Islamic Debt), in view of the strength of the underlying issue structure, the advanced stage of completion for Phase II and Phase III of the Bandar Baru Puncak Alam project which have been earmarked for the redemption of the issue, and the remaining billings to date which more than covers the balance of funds to be ac...

MARC has upgraded AmMerchant Bank Berhad’s (AmMerchant) financial institution rating to A and reaffirmed its short term rating at MARC-1 based on the bank’s market position, greater focus on fee-based and investment banking activities, improvement in the bank’s asset quality following the resolution of the bulk of its legacy problem loans, and its improved funding profile. These strengths w...

MARC has reaffirmed Putrajaya Holdings Sdn Bhd’s (PJH) long term and short term issuer rating of AAA and MARC-1, respectively and its Islamic corporate debt ratings of AAAID/MARC-1ID in respect of its Bai’ Bithaman Ajil Bonds Issuance Facilities for Parcels A, B, C, D & Public Facilities Precinct 10 and its Murabahah Commercial Papers/Medium Term Notes Programme for Parcel E. The reaffirmation...

MARC has assigned a rating of A-ID (A Minus, Islamic Debt) to Shamelin Bina Sdn Bhd’s (SBSB) Murabahah Medium-Term Notes Issuance Facility (MMTN) of up to RM100 million. The rating assigned to SBSB’s MMTN reflects the holding company’s, Koperasi Shamelin Berhad’s (KSB) satisfactory asset quality arising from the collection arrangement with ANGKASA (Angkatan Koperasi Kebangsaan Malaysia Ber...

MARC reaffirms the rating of A+ (single A plus) on TSH Resources Bhd’s (TSH) Al-Murabahah Medium-Term Notes (MuMTN) while at the same time, upgrades the short term rating from MARC-2 to MARC-1. The reaffirmation of the group’s long term rating reflects TSH’s diversified business portfolio of palm oil milling and the manufacturing of engineered flooring products; strong operating records coup...