Malaysian Rating Corporation Berhad (MARC) has assigned a short term rating of MARC-3 ID (MARC 3, Islamic Debt) in respect of Teratas Dagang Sdn Bhd’s (TDSB) proposed RM25.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF). Positive factors supporting the rating are the off-taker of the project which is the government/Kementerian Dalam Negeri (KDN) and the underlying issue structu...

ARL Tenaga Sdn Bhd’s (ARLT) AID rating affirmation reflects the stable and predictable cash flow which is expected to cover the company’s debt servicing requirements comfortably; the presence of a long-term fuel supply contract which eliminates supply disruption risk; the adoption of proven engine design and well-developed operating methods for its plant and an issue structure which promotes t...

Labuan-based MARC International Limited (MARC International), a wholly owned subsidiary of Malaysian Rating Corporation Berhad, has assigned a long-term foreign currency Islamic capital market instrument rating of BBB+is (Triple B plus, Islamic Sukuk) to the USD395 million serial Islamic lease Sukuk issuance to be made by First Global Sukuk Inc., a Labuan-incorporated special-purpose vehicle (SPV)...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM330 million 3-year Fixed Rate Bonds, RM260 million 5-year Fixed Rate Bonds and RM220 million 10-year Fixed Rate Bonds, issued on 6 December 2001. The 3-year, 5-year and 10-year Fixed Rate Bonds carry an average yield of 3.136% p.a., 3.311% p.a. and 3.912% p.a. respectively. The Bonds are issued to fund the...

MARC has assigned an Islamic Debt rating of AA+(s)ID (double A plus, support; Islamic Debt) in respect of Kuching Port Authority’s (KPA) issue of RM180 million Al-Bai Bithaman Ajil Islamic Debt Securities. The rating reflects the strength of the support provided by the State Government of Sarawak (vide its Letter of Support dated 30 November 2001) in ensuring the timely and full redemption of t...

Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of AA+ID (double A plus, Islamic Debt) to Tenaga Nasional Berhad’s (TNB) proposed RM2.0 billion Al-Bai Bithaman Ajil Bonds (2001/2021). The rating reflects TNB’s strategic importance to Malaysia’s economy and national security given its role as principal supplier of electricity in the country. TNB’s near term...

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...

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...