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MARC has affirmed its MARC-1ID/AID ratings of Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/Medium Term Notes (ICP/IMTN) Programme. The rating outlook is maintained at stable. The affirmed ratings took into consideration Tomei’s profitable and established domestic fine jewellery chain operations, management’s regional growth strategy and the overall...
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MARC has downgraded its ratings on Hytex Integrated Berhad’s (Hytex) RM100 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) to MARC-3ID / BBB-ID from MARC-2ID / A-ID. The rating carries a developing outlook. The downgrade reflects the current strain on the apparel maker’s liquidity stemming from weaker industry fundamentals, recent ope...
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MARC has revised its outlook on MM Vitaoils Sdn Bhd’s (MMV) rating of its RM45.0 million Murabahah Commercial Paper Programme (MCP) to negative from stable. Concurrently, MARC affirmed its MARC-2ID rating on the MCP. The outlook revision reflects the slow build-up of liquidity ahead of significant sinking fund payments in 2011 as a result of its modest positive cashflow from oper...
This article has been viewed 1387 times.
MARC has affirmed its MARC-1ID /AID ratings of Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/ Medium-Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect Tomei’s significant jewellery-chain operations in the local jewellery market, its integrated operations that have allowed the company to offer a wide product ...
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MARC has affirmed the ratings of apparel manufacturer Hytex Integrated Berhad’s (Hytex) RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium-Term Notes (MUNIF/ IMTN) at MARC-2ID /A-ID. Concurrently, MARC has revised the rating outlook to negative from developing.Hytex’s revised rating outlook reflects MARC’s view that while contract manufacturing orders ...
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MARC has withdrawn the MARC-1ID/AID ratings assigned to Degem Berhad’s RM50 Million Murabahah Underwritten Notes Issuance Facility / Islamic Medium Term Notes with immediate effect following confirmation by the facility agent, MIDF Amanah Investment Bank Berhad, of an early cancellation of the facility on February 11, 2009, ahead of its original maturity date on June 10, 2011. Con...
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MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...
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MARC has affirmed its MARC-1ID/AID ratings on Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect the strength of the jeweller’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by declines in consumer co...
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MARC is issuing this rating update in connection with its MARC-2ID /A-ID ratings on HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes. Following MARC’s affirmation of the ratings on 14 November 2007 and revision of its ratings outlook to developing from stable, HIB was not able to restore its debt leverage and liquidity measures by end-Janu...
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MARC has removed the MARC-2ID /A-ID ratings of HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. The developing outlo...
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