MARC today placed the DID rating of MOCCIS Trading Sdn. Bhd’s (MTSB) RM50 million Al-Bai Bithaman Ajil Debt Securities on MARCWatch with developing implications. On 24 June 2000, MTSB had failed to make a scheduled payment of RM2.9 million on its maturing Secondary Notes. Upon the receipt of notification from the Trustee that an event of default had occurred pursuant to Clause 7(a) of the Trust...

Malaysian Rating Corporation Berhad (MARC) announces that it has lowered MOCCIS Trading Sdn Bhd’s (MTSB) RM50 million Al-Bai Bithaman Ajil Islamic debt securities rating to DID. The rating had earlier been put on MARCWatch with negative implications. The rating reflects MTSB’s failure to make timely scheduled payment on the instrument issued under the Islamic-financing contract. ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM337 million reopening of the existing 3-year Fixed Rate Bonds issued on 22 June, 2000. (An earlier tranche of the 3-year Bonds was issued on 14 April, 2000 bearing a coupon rate of 4.766% p.a.). The Bonds carry an average coupon rate of 4.5010% p.a.. The Bonds are issued to fund the purchase of mortgage l...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM850 million of 3-month (discount) Notes issued on 25 May, 2000. The 3-month Notes carry an average discount rate of 2.773% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industrial...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM170 million one year (discount) Notes and a long-term rating of AAA to the RM100 million 2-year Fixed Rate Bonds and RM150 million reopening of the existing 3-year Fixed Rate Bonds issued on 16 May, 2000. (An earlier tranche of the 3-year Bonds was issued on 14 April, 2000 bearing a coupo...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM165 million one year (discount) Notes and a long-term rating of AAA to the RM430 million 3-year Fixed Rate Bonds and RM100 million reopening of the existing 5-year Fixed Rate Bonds issued on 14 April, 2000. (An earlier tranche of the 5-year Bonds was issued on 10 March, 2000 bearing a cou...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM915 million and RM730 million of 3-month and 6-month (discount) Notes issued on 25 February, 2000. The 3-month and 6-month Notes carry an average discount rate of 2.853% p.a. and 3.028% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from financial instituti...

MARC has affirmed its financial institution rating of AA- (Double A Minus) and short-term rating of MARC-1 for Public Finance Berhad. The ratings take into account the company’s favourable competitive position, better than peer group loan loss experience, satisfactory reserve coverage, good capitalization, improved profitability and its 56.76% ownership by Public Bank Berhad. Since commencing ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM60 million 3-year Fixed Rate Bonds, issued on 4 November, 1999. The 3-year Bonds carry an average discount rate of 5.050% p.a. The Bonds are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industrial property loans and ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM1,750 million 3-month (discount) Notes issued on 20 October, 1999. The 3-month Notes carry an average discount rate of 2.823% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industri...