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MARC Ratings has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme.The rating is driven by BDB’s improving business profile in construction and property development, its low-to-moderate leverage position, and adequate liquidity to meet short-term operational and financial commitments. The group’s status as a ...
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MARC Ratings has maintained its ratings on Alpha Circle Sdn Bhd’s outstanding RM80 million Senior Sukuk Musharakah and RM55 million Junior Sukuk Musharakah at BIS and CIS. The senior sukuk’s rating outlook has been maintained at negative.The rating actions reflect Alpha Circle’s weak financial position to be able to fully meet its remaining sukuk repayments and instead has relied on the indu...
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MARC Ratings has assigned a final rating of AA-IS to MMC Port Holdings Sdn Bhd's (MMC Port) RM1.0 billion Sukuk Murabahah Programme. The outlook on the rating is stable.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.For...
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MARC Ratings has lowered its ratings on Alpha Circle Sdn Bhd’s outstanding RM115 million Senior Sukuk Musharakah to BIS/negative from BBIS/negative and RM55 million Junior Sukuk Musharakah to CIS from BIS/negative. The downgrades reflect Alpha Circle’s weakened financial position to fully meet its upcoming senior sukuk payment of RM55 million on February 23, 2022. It has a balance o...
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MARC Ratings has assigned a preliminary rating of AA-IS to MMC Port Holdings Sdn Bhd’s (MMC Port) proposed RM1.0 billion Sukuk Murabahah Programme. The rating carries a stable outlook.The assigned rating is driven by MMC Port’s very strong competitive position among transhipment port operators regionally and among gateway port operators domestically, as well as its established track record in ...
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MARC has affirmed its ratings of MARC-1IS /AA-IS on UEM Edgenta Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) under the Sukuk Murabahah Programme of up to RM1.0 billion. The ratings outlook is stable. The ratings are driven by UEM Edgenta’s established strong operating track record in healthcare and infrastructure services gained through long-term contracts...
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MARC has affirmed its AA-IS rating on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook.MMC’s significant competitive strengths in the ports and logistics, and engineering segments that have translated to strong earnings generation remain key rating drivers. The group’s performance is further supported by steady earnings from its energy and utilitie...
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MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. All ratings carry a stable outlook.The ratings affirmation incorporates DRB-HICOM’s continued strength in its key automotive segment that is reflected by its strong market position and steady contribution to group profitabi...
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MARC has assigned its AA+IS rating to UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) and AA-IS rating to UMW’s RM2.0 billion Perpetual Sukuk Programme (Perpetual Sukuk). The two-notch rating differential between the Sukuk Musharakah and Perpetual Sukuk is in line with MARC’s methodology on notching principles of subordinated and hybrid...
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MARC has lowered its ratings on Alpha Circle Sdn Bhd’s outstanding RM140 million Senior Sukuk Musharakah to BBIS from BBBIS and RM55 million Junior Sukuk Musharakah to BIS from BBIS. The rating action highlights the ongoing challenges surrounding the hire of foreign labour that has remained significantly affected by measures implemented to contain the COVID-19 pandemic. Among these are the ...
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