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The rating of BB- accorded to Olympia Industries Berhad’s (“OIB”) RM137,124,246 nominal value of Redeemable Unsecured Loan Stocks (“RULS”) reflects the risks associated with the implementation of the Group’s restructuring scheme. The rating carries a stable outlook.OIB is involved in property investment, construction, stock broking and lotteries/number forecast....
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MARC said today that its AA-ID (cg) rating on KCB’s RM630 million Murabahah Medium Term Notes (MMTN) is not affected by Scomi Group Berhad’s (Scomi) announcement of a proposed divestment of 19.9% in the respective classes of the share capital in Scomi Oilfield Limited (Scomi Oilfield) to Standard Chartered Private Equity Limited for a total cash consideration of USD99.50 million.KCB is...
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MARC said today that its AA- rating on SGB is not affected by the company’s recent announcements in relation to the following:SGB’s share sale agreement with MTrans Transportation Corp Sdn Bhd (MTC) to acquire 10,400,002 ordinary shares in MTrans Transportation Systems Sdn Bhd (MTrans), representing 40% of the issued and paid-up share capital of MTrans from MTC, for a total purchase co...
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MARC has assigned a short term rating of MARC-1ID to Straight A’s Portfolio Sdn Bhd’s (“SAP”) RM200 Million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) with stable outlook. SAP is a special purpose vehicle (“SPV”) company formed by Oil-Line Engineering & Associates Sdn Bhd (“OLEA”) incorporated for the purpose of se...
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On 5 October 2006, MARC received confirmation from Malaysian Trustees Berhad that MHS MHSA had fully redeemed its RM60 million BaIDS on 3 September 2006. As such, MARC no longer has any rating obligation on the BaIDS, and hereby withdraws the rating of AAID (AA Flat, Islamic Debt)....
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MARC has removed MHS Aviation Berhad’s (MHSA) A+ID rating on its RM140 million Junior Notes Issue (JNs) from MARCWatch Developing, and affirmed the rating with a Stable Outlook.The rating was placed on MARCWatch Developing on November 8, 2006 due to initial concerns that the grounding of MHSA’s three Super Puma helicopters under charter to Exxon Mobil Exploration & Production Malay...
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MARC has extended its MARCWatch Developing placement in respect of Bayu Padu Sdn Bhd’s (“Bayu Padu”) ratings of A+ID/MARC-1ID on its RM500 million Istisna’ Serial Bonds and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCPs/MMTNs).Bayu Padu, which is 100% owned by Sapuracrest Petroleum Berhad (“SapuraCrest”), is a special purpose vehicle (“S...
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MARC has upgraded Mulpha International Bhd’s (“MIB”) RM75.0 million Bank Guaranteed Murabahah Notes Issuance Facility (“MUNIF”) long-term rating from A+(bg)ID to AA-(bg)ID and has reaffirmed the short-term rating of MARC-1(bg)ID. The ratings reflect the unconditional and irrevocable bank guarantees provided by AmInvestment Bank Berhad and CIMB Bank Berhad. On a separa...
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Oilcorp Berhad’s (“Oilcorp”) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (“MUNIF/IMTN”) long-term rating has been downgraded from A ID to A- ID, and short term rating reaffirmed at MARC-2 ID. The ratings have been accorded stable outlook. The rating downgrade is underpinned by the Group’s weakened fi...
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MARC has downgraded the ratings of DRB-HICOM Berhad’s (DRB-HICOM or the Group) RM50.0 million Underwritten Murabahah CP/MTN and RM120.0 million Murabahah CP/MTN facilities from AA-ID/MARC-1ID to A+ID/MARC-1ID ; and RM680.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from AA-ID to A+ID respectively with a stable outlook. The downgrades reflect the Group’s declining ...
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