MARC has reaffirmed the rating of MTD Prime Sdn Bhd’s (MTD Prime) RM250 million Al-Bai Bithaman Ajil Islamic Debt Securities at AA-ID. The rating reaffirmation reflects the positive traffic growth at the KL – Karak Highway, higher than the Government’s guaranteed traffic volume; and the strength of the company’s financial profile underpinned by the strong revenue growth.MTD Prime is the co...

MARC has reaffirmed the rating of Kelang Multi Terminal Sdn Bhd’s (KMT) Floating Rate Notes (FRN) with a nominal value of RM350 million at A+ (A plus). The reaffirmation of the rating reflects KMT’s strong business fundamentals and operational efficiency and continued growth in container and conventional throughput. Offsetting this is the high, but manageable debt leverage level and the stiff ...

Kwantas Corporation Berhad’s (KCB) rating has been reaffirmed at A+ID reflecting the integrated nature of the Group’s palm oil operations; its expanding activities namely, the commercialization of renewable bio-mass energy and establishment of operations in China; and the Group’s relatively strong financial profile.KCB Group’s credit strength is drawn from the integrated nature of its oper...

MARC has reaffirmed the ratings of Puncak Niaga (M) Sdn Bhd’s (PNSB) ABBA serial bonds, MuCP/MuMTN and junior notes at AAID, MARC-1ID/AAID and A respectively. Concurrently, the negative outlook on the ratings has also been lifted. The ratings reflect amongst others the inherent unfaltering demand for treated water and the Federal Government’s proposed financial support in resolving the long ou...

MARC has reaffirmed the rating of Puncak Niaga Holdings Berhad’s (PNHB) Redeemable Unconvertible Junior Notes (RUN) at A, similar to Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). The rating reflects a perfected security interest in the A notes and the escrow account to which matching debt service payments under the A notes will flow. The three-notch differential between the senio...

The rating reflects IJM Plantations Berhad’s (IJMP) business focus in palm oil plantation and milling and its strong plantation performance. The rating is, however, moderated by the Group’s vulnerability to cyclical developments in the palm oil industry.IJMP’s palm oil cultivation is undertaken in the Sandakan and Labuk-Sugut districts of Sabah. Out of a total land bank of 29,497 hectares, o...

Bumiputra-Commerce Bank Berhad’s (BCB) Financial Institution rating has been affirmed at A+/MARC-1 and its detachable coupons of the RM667 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A. The Financial Institution rating reflects the bank’s strong market position in Malaysia, moderated by its somewhat weaker market position in the higher yielding consum...

The reaffirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) long term rating of A-ID (A minus, Islamic Debt) and short term rating of MARC-2ID reflect the assignment of contract proceeds for the purpose of redemption of the ABBA and MUNIF facilities; the strength of the issue structure; its good track record; its competitive position; improvement in economic outlook; and the company’s improvin...

The rating of Road Asset Vehicle Sdn Bhd’s (RAV) RM350 million Commercial Paper Programme (CP) has been reaffirmed at MARC-2. The rating reflects the bankruptcy remote status of this special purpose vehicle (SPV); credit support in the form of the assignment of a corporate guarantee issued by Kumpulan Guthrie Bhd (the obligor) in respect of the amount payable by Guthrie Corridor Expressway Sdn B...

MARC has assigned long term and short term ratings of A ID (Single A Flat Islamic Debt) and MARC-2 ID respectively on Evermaster Group Berhad’s (EGB) proposed RM90 million Islamic Debt Securities (comprising RM50 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40 million Murabahah Multi-Option Notes Issuance (MONI) Facilities). The rating reflects EGB’s expanding activi...