MARC has assigned a long term rating of A to Puncak Niaga Holding Bhd’s (PNHB) RM546.88 million Redeemable Unconvertible Junior Notes (RUN) with detachable warrants. Proceeds from the new debt offering will be used to fund PNHB’s subscription of subsidiary, Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). PNHB’s RUN are rated the same as PNSB’s A notes. The RUN’s rating r...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of A ID (A flat Islamic Debt) in respect of TH Group Berhad’s (THG) proposed RM150 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating mainly reflects its diversified business portfolio, strong operating record, relatively strong balance sheet and the fairly stringent requirements under the issue ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM380 million reopening of the existing 3-year Fixed Rate Bonds and a short-term rating of MARC-1 to the RM650 million 3-month and RM310 million 1-month (discount) notes respectively, issued on 16 November 2001. The Bonds carry an average yield of 2.832% p.a., and the 3-month and 1-month Notes carry average d...

Malaysian Rating Corporation Berhad (MARC) has affirmed Tenaga Nasional Berhad’s issuer ratings at AA+/MARC-1. MARC has also affirmed TNB’s Al-Bai Bithaman Ajil Notes Issuance Facility rating at AA+ID and Eight-year Fixed Rate Unsecured Bonds rating at AA+. The ratings affirmation is based on TNB’s strategic importance to Malaysia’s economy and national security given its role as principal...

The ratings of AA+ ID for Tranche I (RM370 million), A ID for Tranche II (RM50 million) and A+ ID for Tranches III (RM80 million) and IV (RM168 million) reflect the strength of irrevocable unconditional guarantees provided by a consortium of banks evaluated using the weak link approach. The BBB- rating of the non-guaranteed RM30 million Tranche V reflects the issuer’s stand-alone rating, recogn...

Dialog Group Berhad’s (DGB) reaffirmed corporate credit rating reflects the group’s strong business position in the plant construction aspect of the oil, gas and petrochemical industries; continued strong financial profile defined by its good earnings performance; strong cash flow position and solid capitalization with minimal debt obligations. These positive features are somewhat moderated by...

Road Builder (M) Sdn Bhd’s (RBM) rating of A+(s) (single A plus, support) in respect of its RM400 million Repackaged RBM Income Securities reflects RBM’s competitive position in the civil engineering and building segment; good track record; experienced management team and a tight issue structure. The rating also reflects the shareholder’s support of a maximum RM200 million on a reducing bala...

Setia Putrajaya Sdn Bhd (Setia Putrajaya) has redeemed and cancelled the remaining RM39.5 million of its RM375 million Murabahah Notes Issuance Facility (MuNIF) on 8 November 2001, ahead of its expiry date of 10 November 2001. Consequently, Malaysian Rating Corporation Berhad (MARC) has withdrawn its rating on Setia Putrajaya’s MuNIF....

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic corporate debt rating of A-ID (A minus, Islamic Debt Securities) to Puncak Alam Housing Sdn Bhd’s (PAH) RM75 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facility. The rating reflects the strength of the underlying issue structure, with the BaIDS issue backed by secured sales from specific property d...

Malaysian Rating Corporation Berhad (MARC) has affirmed Putrajaya Holdings Sdn Bhd’s (PJH) RM1,109 million Al-Bai Bithaman Ajil (ABBA) Bonds Issuance Facility (Parcels A, B & Public Facilities Precinct 10) (2000-2010) rating at AAAID. The rating affirmation reflects PJH’s solid capitalization supported by a superior set of shareholders; exceptionally strong financial flexibility; importance o...