MARC has received confirmation from Reliance Pacific Berhad that its Serial Bonds of RM100.0 million were fully redeemed upon maturity on 25 July 2006. As such, MARC no longer has any rating obligation on the facility and the A- (A minus) rating is hereby withdrawn....

The ratings of Atlan Holdings Bhd’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities have been reaffirmed at MARC-2ID/AID and AID respectively. The reaffirmation of the ratings reflects Atlan’s focus and strength in its respective core busin...

The rating of Reliance Pacific Berhad’s (“RPB” or “the Group”) RM100 million Redeemable Secured Bonds (2001/2006) has been reaffirmed at A- (A minus). Underpinning the rating is the expected sustained growth in the travel and tourism industry and the group’s overall improved financial profile. The rating, however, is moderated by RPB’s reasonably high debt...

MARC has reaffirmed the ratings of Sime Darby Berhad’s (“Sime Darby” or “the Group”) RM1,500 million Al-Murabahah Commercial Papers/ Medium-Term Notes (“MCP/MMTN”) Programme at MARC-1ID/AAAID respectively. The ratings reflect the diversity of the Group’s operations in more than 10 countries; its sound financial profile characterised by respectable ca...

MARC has placed PSSB Ship Management Sdn Bhd’s (“PSM”) RM40 million Bai’ Bithaman Ajil Islamic Securities (“BAIS”) on MARCWatch with a Negative Outlook, with the likelihood of suspension if the relevant information is not provided within two weeks of this announcement. The RM40 million BAIS was assigned an initial rating of AA-ID in November 2004. The action is due to PSM’s failure,...

The affirmed ratings of A+(bg)ID/ MARC-1(bg)ID for Mulpha International Bhd’s (MIB) RM75.0 million Bank Guaranteed Murabahah Notes Issuance Facility (MUNIF) reflect the unconditional and irrevocable bank guarantees provided by AmMerchant Bank Berhad and Southern Bank Berhad; whilst the affirmed ratings of AID/ MARC-2ID for MIB’s RM25.0 million Murabahah Commercial Paper/ Medium Term Notes (CP/...

MARC has assigned a rating of A+ to Petra Perdana Berhad’s (Petra) proposed issuance of up to equivalent RM800 million Dual Currency Revolving Financing Facility comprising RM400 million Nominal Value Secured Serial Bonds under Tranche 1 and up to RM400 million Dual Currency Revolving Financing Facility under Tranche 2. The rating reflects the Group’s competitive position as an integrated serv...

The proposed issuance of RM100 million Islamic Medium Term Notes facility and up to RM50 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes Facility (“Finance Facilities”) has been assigned a long term rating of AID and a short and long term rating of MARC-2ID and AID respectively. The ratings of Medi Innovation Sdn Bhd’s (“MISB”) proposed issue reflect th...

MARC has downgraded Malaysian Merchant Marine Bhd’s (MMM) RM120.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BaIDS) rating from AAID to AA–ID; reflecting its weakened operating cash flow protection measures due to the combined effects of significantly lower operating cash flows and higher operating cost. Future operating cash flow required to meet its operating expenses may further impair i...

Oilcorp Berhad’s (Oilcorp) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes Facility (MUNIF/IMTN) has been affirmed at MARC-2ID/AID, reflecting Oilcorp’s position as an integrated, multidisciplined engineering, procurement and construction (EPC) services provider in various oil and gas, petrochemical, power generation, semiconductor and other related indust...