Malaysian Rating Corporation Berhad (MARC) has reaffirmed the ratings of Midciti Resources Sdn Bhd’s (“Midciti Resources”) 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million at MARC-1ID /AAAID, 8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million at AAAID and the 13-year Bonds with a no...

MARC International, Labuan-based wholly owned subsidiary of Malaysian Rating Corporation Berhad, has affirmed the long-term foreign currency Islamic capital market instrument rating of BBB+is (Islamic Sukuk) to First Global Sukuk Inc.’s Serial Islamic Lease Sukuk Issuance of up to USD368 million (previously up to USD395 million). The affirmation reflects the satisfactory performance of Kumpulan...

The rating affirmation of Pembangunan Leasing Corporation’s (PLC)’s Guaranteed Notes reflects the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) which carries a rating of A from MARC. PLC’s financial performance has shown improvement for the past five years with increasing pre-tax profit since 1998. MARC’s main c...

MARC has affirmed the long-term Islamic corporate debt rating of A-ID (A minus, Islamic Debt Securities) and short-term Islamic corporate debt rating of MARC-3ID assigned to Europlus Corporation Sdn Bhd’s (ECSB) RM250 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) respectively. The affirmed ratings reflect t...

MARC has affirmed Road Builder (M) Holdings Bhd’s corporate credit rating of A+ (single A plus). The rating affirmation reflects the good track record exhibited by the group in all its major business divisions, the group’s competitive position in the construction business, experienced management team who are aggressive in their effort to broaden the group’s revenue base, strong financial pro...

MARC has affirmed the rating of RBM’s RM400 million Repackaged Income Securities (2001-2006) of A+(s) (single A plus, support). The affirmed rating reflects RBM’s competitive position in the civil engineering and building segment, good track record, experienced management team and a tight issue structure. The rating also reflects the shareholder support of up to a maximum RM200 million on a re...

MARC has received the confirmation from the Facility Agent that CNLT’s GRUNIF Notes have been refinanced by the RM60.0 million Bank Guaranteed Al Murabahah Commercial Papers/ Medium Term Notes Issuance Programme on the 10th April 2003. Hence, MARC no longer has any rating obligation on CNLTS’s GRUNIF Facility and the MARC -1 (bg) rating is hereby withdrawn. ...

MARC has received the confirmation from the Lead Arranger and Trustee that SPN’S RM1 billion Fixed Rate Bonds (1998/2003) have been fully redeemed on 15 April 2003. Hence, MARC no longer has any rating obligation on the bonds and the AAA(s) rating is hereby withdrawn. ...

The AAA(s)ID (triple A, support, Islamic debt) rating assigned to PETRONAS Fertilizer (Kedah) Sdn Bhd (PFK)’s BaIDS reflects the strength of the support provided by the holding company, Petroliam Nasional Berhad (PETRONAS), in ensuring the timely and full redemption of the BaIDS, either through equity, loan facilities, grants or other means. PFK, a wholly-owned subsidiary of PETRONAS, benefits ...

MARC has received confirmation from the Trustee that the BaIDSholders for KLSSB’s Tranche 1 BaIDS of RM120 million has in an Extraordinary BaIDSholders Meeting (EBM) held on 3 April 2003, approved KLSSB’s proposal to defer the repayment of RM91 million of the face value of the said tranche, which is due on 4 April 2003 to a date falling six months thereafter with an option given to KLSSB to fu...