The affirmation of WCT Engineering Bhd’s (WCT) corporate debt rating at A– (s) reflects the improving economic outlook, the group’s competitive position in the construction sector as evident by its ability to secure overseas construction projects, strengthening financial profile, conservative financial management and an experienced management team. The bonds issue is supported by an irrevoc...

MARC has raised the ratings on MK Land Berhad’s (MK Land) tranche 1 and tranche 2 serial bonds to A from A-. The upgrades reflect the group’s ability to improve its financial profile and the strength of the underlying issue structure in which secured sales have been earmarked for the redemption of the bond issues. Positive features of the issue structure include a minimum security coverage of ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM685 million 1-month (discount) Notes and RM300 million 3-month (discount) Notes issued on 16 August, 2002. The 1-month and 3-month Notes carry an average discount rate of 2.715% p.a. and 2.732% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from financial ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AA ID (Double A flat Islamic Debt) and A+ ID (Single A plus Islamic Debt) in respect of MHS Aviation Berhad’s (MHSA) (formerly known as MHS Aviation Sdn Bhd) proposed RM60 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM140 million Nominal Value Junior Notes Issue (JNs) respectively. The rating of ...

Malaysian Rating Corporation Berhad (MARC) has affirmed Commerce Dot Com’s (CDC) RM100 million Al-Istisna Facility at A-ID (Islamic Debt). However, the rating agency has placed the rating on negative outlook. The rating affirmation reflects Commerce Dot Com Sdn Bhd’s (CDC) position as the exclusive provider of the electronic procurement system for the government and a tight underlying issue ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM305 million reopening of the existing 3-year Fixed Rate Bonds and RM345 million reopening of the existing 4-year Fixed Rate Bonds, issued on 30 July 2002. The 3-year and 4-year Fixed Rate Bonds carry an average yield of 3.201% p.a. and 3.289% p.a. respectively. The Bonds are issued to fund the purchase of ...

The rating on Kelang Multi Terminal Sdn Bhd (KMT) reflects strong business fundamentals and operational efficiency, complemented by improving profitability indicators. Offsetting this is the high, albeit moderating, gearing levels.Incorporated in 1990, KMT is the operator of Westport under the privatization agreement signed with the government in 1994. Located in Port Klang, Westport is a deep wat...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of A+ ID (Single A plus Islamic Debt) in respect of Kwantas Corporation Berhad’s (KCB) proposed RM100 million Al-Bai Bithaman Ajil Islamic Serial Bonds. The rating reflects the KCB Group’s integrated palm oil operations and expanding activities; new revenue source from the sale of renewable bio-mass energy; and expand...

Malaysian Rating Corporation Berhad (MARC) has assigned Islamic corporate debt ratings of MARC-1ID/AAAID (Islamic Debt) to Putrajaya Holdings Sdn Bhd’s (‘PJH’) proposed Murabahah Commercial Papers / Medium Term Notes Programme (2002/2006) with nominal value of up to RM910 million. The Islamic debt ratings reflect PJH’s issuer ratings, based upon its solid capitalization supported by a supe...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term corporate debt rating of MARC-2ID (Islamic Debt) to Motosikal Dan Enjin Nasional Sdn Bhd’s (MODENAS) RM80 million Murabahah Underwritten Notes Issuance Facility (MUNIF). The rating reflects MODENAS’ strong market position in the 4-stroke segment of the motorcycle industry; Government’s support in the form of tariff protecti...