MARC has upgraded Degem Berhad’s (DeGem) short-term rating and affirmed the long-term rating for its RM50.0 million Murabahah Partially Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID/AID. The ratings carry a stable outlook. The upgrade of the short-term rating reflects increased consideration given to industry and company-specific liquidity characte...

MARC has removed CNLT (Far East) Berhad’s (CNLT) MARC-1(bg)/A(bg)  ratings from MARCWatch Negative and revised the ratings to “not meaningful”. Subsequently, MARC has withdrawn the ratings. The rating actions follow an announcement by CNLT to Bursa Malaysia on 10 October 2007 that the Company failed to service the interest payment on the RM60.0 million CP/MTN programme. Cons...

MARC has reaffirmed the short term rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP) at MARC-2ID. The rating outlook is developing. The rating affirmation reflects the company’s average business risk profile as an edible palm oil products manufacturer, its good geographical diversification, improving cost structure and the anticipation of ...

MARC has placed the MARC-2 ID /A- ID ratings of Hytex Integrated Berhad’s (HIB) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) of up to RM100.0 million on MARCWatch Negative. The MARCWatch placement reflects rising debt levels which have resulted in a debt to equity ratio of 1.49 times that is close to the covenanted cap of 1.50 times and could lead to ...

MARC has withdrawn the A+ID rating assigned to KFC Holdings (Malaysia) Bhd’s (“KFCH”) RM300 million Islamic Notes Issuance Facility (INIF) with immediate effect, following confirmation by KFCH that the INIF has been paid in full....

MARC has placed CNLT (FAR EAST) Berhad’s (CNLT) RM60 million Bank Guaranteed Commercial Papers/Medium Term Notes ratings of MARC-1(bg)/A(bg) respectively on MARCWatch Negative. The MARCWatch placement follows the announcements by CNLT’s Board of Directors to Bursa Malaysia on 12 September 2007 and 13 September 2007 that Provisional Liquidators have been appointed upon application by a ...

Following the announcement by CNLT (Far East) Berhad’s (CNLT) Board of Directors to Bursa Malaysia dated 11 June 2007 that CNLT is an affected listed issuer under the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") and Practice Note 17/2005 ("Amended PN17") and after considering the obligations the company is required to fulfil to avoid a tra...

MARC has lifted CNLT (Far East) Berhad’s (CNLT) RM60.0 million bank guaranteed Commercial Papers/Medium Term Notes Issuance Programme (CP/MTN) MARCWatch developing placement and reaffirmed its ratings at  MARC-1(bg)/A(bg). CNLT’s ratings had been placed on MARCWatch Developing on 27 April 2007 following a revision in repayment terms of the said programme. Detailed discussions with...

MARC has placed its MARC-1(bg)/A(bg)  rating on CNLT (FAR EAST) Berhad’s RM60 million Bank Guaranteed Commercial Papers/Medium Term Notes on MARCWatch Developing. The MARCWatch placement follows CNLT’s confirmation that it failed to honour its first scheduled repayment of RM15 million under its bank guaranteed CP/MTN programme, which was due on 10 April 2007.Notwithstanding the re...

MARC has assigned respective short- and long-term ratings of MARC-1ID and AID with stable outlook to Tomei Consolidated Berhad’s (TCB) RM 100.0 million Islamic Commercial Papers/Medium-Term Notes (ICP/IMTN) Programme. The ratings reflect the Group’s well-established jewellery franchises, its competitive edge over non-integrated players as an integrated manufacturer and retailer of jewe...