MARC has affirmed IJM Corporation Berhad’s (IJM) corporate debt rating of A (single A flat). The affirmed rating acknowledges the favourable competitive position of the group’s core construction business, the strengthening of its business profile over the past few years as a result of initiatives undertaken by IJM to further grow and diversify its revenue sources, its broadened geographic cove...

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...

MARC has assigned a rating of A (Single A) to the Detachable Coupons of Bumiputra-Commerce Bank Berhad’s (BCB) RM667.0 million 10-year Irredeemable Convertible Unsecured Loan Stocks.The rating reflects the subordinated characteristic of the detachable coupons, which were rated below the Financial Institution rating of BCB. BCB’s Financial Institution rating of A+ (Single A plus) reflects the ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM525 million of 1-month and RM330 million of 3-month (discount) Notes issued on 23 May, 2001. The 1-month and 3-month Notes carry an average discount rate of 2.708% and 2.824% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corpo...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM830 million 3-month (discount) Notes issued on 17 May, 2001. The 3-month Notes carry an average discount rate of 2.820% 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 pro...

MARC has assigned a rating of A (Single A) to Commerce Asset-Holding Berhad’s (CAHB) RM500.0 million 5-year and 7-year Redeemable Unsecured Bonds. The rating reflects the strong market positioning of CAHB’s major operating units, the employment of sound risk management practices, solid capital levels and the majority government shareholding. These positives are moderated by the erratic perfo...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic debt rating of A-ID (A minus, Islamic Debt) to Kenanga Wangsa Sdn Bhd’s (Kenanga) RM128 million Al-Bai Bithaman Ajil with Islamic Debt Securities (BaIDS) facility. The rating reflects the strength of the underlying issue structure, in which, secured sales from specific property development projects have been earmarked...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM105 million reopening of the existing 2-year Fixed Rate Bonds, RM150 million reopening of the existing 4-year Fixed Rate Bonds and RM322 million reopening of the existing 5-year Fixed Rate Bonds issued on 11 May 2001. The Bonds carry average yields of 3.293% p.a., 3.700%p.a. and 3.863% p.a. respectively. T...

Malaysian Rating Corporation Berhad (MARC) has affirmed the ratings of Midciti Resources Sdn Bhd’s (“Midciti Resources”) 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million at MARC-1ID /AAAID, 8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million at AAAID and the 13-year Bonds with a nomi...

Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of AAAID (Triple A, Islamic Debt) to PETRONAS Assets Sdn Bhd’s (PAssets) Bai Al-Dayn Notes Issuance Facility with a nominal value of RM282 million (the NIF). PAssets is a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS) and is in the business of owning and leasing of assets. The Company owns and has g...