MARC has affirmed Utusan Melayu (Malaysia) Berhad’s corporate debt rating at MARC-3, reflecting the latter’s leading position in the Malay language newspaper and magazine segments. The rating is, however, moderated by the deterioration in its financial performance, which is highly sensitive to changes in circulation figures, advertising revenue and newsprint prices. Utusan Malaysia is the l...

Reliance Pacific Berhad’s (RPB) rating of A- (single A minus) in respect of its RM100 million Redeemable Secured Bonds reflects the group’s leading position in the travel industry supported by a wide distribution network, competitive cost structure and a fairly tight issue structure. The rating, however, is moderated by the vulnerability of the travel/tourism business to adverse developments...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the MARC-1 (bg) short term rating in respect of MHS Aviation Sdn Bhd’s (MHSA) RM70 million Guaranteed Revolving Underwritten Facility (GRUF). The reaffirmation of the rating reflects the unconditional and irrevocable guarantee provided by Malayan Banking Berhad that considerably enhances the credit rating of the GRUF beyond that of MHSAâ...

Malaysian Rating Corporation Berhad (MARC) hereby announces that the first tranche of DRB-HICOM Berhad’s (DRB-H) Fixed Rate Notes Issuance Facility of RM280 million was redeemed on 15 January 2001 from the proceeds of sale of DRB-H’s interest in Credit Corporation (Malaysia) Bhd to Hong Leong Bank Berhad, pursuant to the terms of the Facility. The first tranche of RM280 million was one of ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term debt rating of MARC-2 to DRB-HICOM Berhad’s (DRB-H) RM380 million Fixed Rate Notes Issuance Facility. The assigned rating reflects the strength of the issue structure that has earmarked the proceeds of RM470 million from the sale of DRB-HICOM’s (DRB-H) interest in Credit Corporation (Malaysia) Bhd to Hong Leong Bank Berhad,...

MARC has affirmed Utusan Melayu (Malaysia) Berhad’s corporate debt rating at MARC-3, reflecting the latter’s continued leading position, particularly in the Malay language daily and its improved financial performance. The rating is however moderated by the sensitivity of Utusan’s financial profile to changes in newsprint price, circulation figures and advertising revenue. The publishing & d...

MARC’s reaffirmation of MHS Aviation Sdn Bhd’s (MHSA) rating reflects the unconditional and irrevocable guarantee provided by Malayan Banking Berhad that considerably enhances the credit rating of the Guaranteed Revolving Underwritten Facility (GRUF) beyond that of MHSA’s stand-alone risk profile.MARC has nonetheless taken into consideration the unique interdependency of the company’s oper...

Malaysian Rating Corporation Berhad (MARC) has assigned ratings of MARC-1/AAAID to Malaysia International Shipping Corporation Berhad’s (MISC) RM1.5 billion Murabahah Commercial Paper/Medium Term Notes Programme (2000/2005) respectively. The ratings reflect strong and stable earnings from its predominantly low-risk business of LNG shipping, good profitability record, strong cash flow position, ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1ID and a long-term rating of AID to Bumi Armada Navigation Sdn Bhd’s (BAN) RM80.0 million Murabahah Notes Issuance Facility and/or Medium-Term Notes. BAN’s ratings reflect the company’s good competitive position in the area of providing marine transportation, tanker operations and support services for the o...