MARC has received confirmation from Mayban Trustees Bhd as the trustee for Malaysia International Shipping Corporation Berhad’s RM1.5 billion CP/MTN Programme that the said facility has been fully redeemed. As such, MARC no longer has any rating obligation on the CP/MTN Programme and the MARC-1ID / AAAID ratings are hereby withdrawn....

The ratings of Atlan Holdings Berhad’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 had been affirmed at MARC-2ID and AID (A flat, islamic debt). The ratings affirmation reflects Atlan’s diversified business and good competitive position, which is ...

MARC has assigned AA- rating to Scomi Group Bhd’s (Scomi) proposed issuance of RM500 million Medium-Term Notes (Notes). The rating reflects the group’s good competitive position as it has one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; an international presence in 34 countries following the acquisition of KMC...

MARC has reaffirmed the rating of MARC-1 on Radicare (M) Sdn Bhd’s (Radicare) RM49 Million Commercial Paper Programme; a reflection of the secured cash receivables from the Ministry of Health (MOH) backed by invoices issued to the MOH; a 1.25 times security cover of invoices issued; stringent requirements of the issue structure; sheer dominance of Radicare’s services in the central and eastern...

MARC has received confirmation from the Facility Agent that Series II of Reliance’s Redeemable Secured Bonds (2001/2006) amounting to RM35.0 million had been redeemed on 25 July 2005. After the aforementioned redemption, the current outstanding Facility stands at RM50.0 million....

MARC has assigned the ratings of A+ID and MARC-1ID/A+ID to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Berhad) Istisna’ Medium Term Notes (Istisna’ MTNs) and Murabahah Commercial Papers/Medium Term Notes (MCP/MMTN) facilities. The ratings reflect SapuraCrest Petroleum Berhad’s (SapuraCrest) competitive position as one of the largest Malaysian-owned integrated services provid...

MARC has assigned ratings of AA-ID (Double A Minus, Islamic Debt) to DRB-Hicom Berhad’s (DRB or Group) RM680 million Bai’ Bithaman Ajil Islamic Debt Securities and MARC-1ID/AA-ID to its RM200 million Underwritten Murabahah CP/MTN and RM120 million Murabahah CP/MTN facilities respectively. The assigned ratings reflect the Group’s diversified businesses – automotive manufacturing & distribut...

MARC has upgraded the rating of Reliance Pacific Berhad’s (RPB or group) RM100 million Redeemable Secured Bonds (2001/2006) to A- (A minus). The upgrade is underpinned by the improvement in the travel and tourism industry and the group’s improved financial profile. The group returned to profitability after three consecutive years of losses whilst operating cash flow level returned to the black...

MARC has assigned a rating of A (A Flat) to Haisan Resources Berhad (HRB)’s proposed RM30 million bond; reflecting its strong competitive position in the refrigeration and ice industry, the assignment of specific contract proceeds towards redemption of the bonds, and its good operating profit margin and manageable debt leverage position. The rating is, however, moderated by the Group’s vulnera...

MARC has received confirmation from Bumi Armada Navigation Sdn Bhd that its RM80 million Murabahah Notes Issuance / Islamic Medium-Term Notes facility has been fully redeemed and it has arranged for the release/discharge of the security created in respect of the above facility. As such, MARC no longer has any rating obligation on the facility and the MARC-1ID/AA-ID rating is hereby withdrawn....