MARC is issuing an update on Tirai Impresif Sdn Bhd’s (TISB) AA- rating on RM100 million Medium Term Notes (MTN) programme in connection with a legal action filed by TISB’s ultimate holding company, VTI Vintage Bhd (VTI) against former Managing Director Ken Ong Thuan Ming. Bursa Malaysia listed VTI is mainly involved in manufacturing and trading of roof trusses and tiles.MARC is of the...

MARC is issuing this update on its AA-/MARC-1 rating on IJM Corporation Berhad’s (IJM) RM300 million Commercial Paper/Medium Term Notes Programme in view of the Group’s proposed capital repayment exercise. MARC has retained its AA- long term and MARC-1 short term ratings after taking into consideration that the impact of the capital repayment on the Group’s profile will only be m...

MARC has reaffirmed the rating of MARC-2ID for Prinsiptek Corporation Berhad's (Prinsiptek) Murabahah Commercial Paper (MCP) Programme of up to RM30 million. The reaffirmed rating reflects the company’s proven track record in project execution, satisfactory order book position, and moderate margins. The rating also reflects its susceptibility to increases in the cost of construction material...

MARC has reaffirmed the AAA and MARC-1/AAA ratings of Valid Ventures Berhad’s (VVB) RM510.0 million fixed rate serial bonds (bonds) and up to RM85.0 million Commercial Paper/Medium Term Notes (CP/MTN) Programme, respectively. The ratings carry a stable outlook. The rating reflects the Government of Malaysia’s (GOM) demonstrated willingness and capacity to support the deferred payment o...

MARC has affirmed the ratings of MARC-1(bg)/AAA(bg) and MARC-1(bg)/ AA+(bg) for Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper / Medium-Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN, respectively. The ratings are underpinned by the irrevocable guarantees provided by Malayan Banking Berhad (Maybank) and United Overseas Bank (Malaysia) Bhd (UOBM), respectively....

MARC has assigned the rating of AA-IS to Matang Highway Sdn Bhd’s (Matang) RM70.0 million Sukuk Musharakah (the Sukuk). The outlook for the rating is stable. Matang is a wholly-owned subsidiary of Zecon Berhad (Zecon), established with a single purpose to undertake the issuance of the Sukuk. The proceeds from the Sukuk will be utilized to refinance Zecon’s existing debts and to finance...

MARC has assigned its MARC-1ID/AA-ID ratings to WCT Engineering Berhad’s (WCT) RM300 million Islamic Commercial Papers / Islamic Medium-Term Notes Programme (ICP/IMTN). The rating outlook is stable. Proceeds from the issuance will be used for capital expenditure, general working capital requirements and to redeem any outstanding bonds issued in 2005. This issuance follows a recent RM300 mill...

MARC has assigned an initial rating of AA-IS for WCT Engineering Berhad’s (WCT) RM300 million Redeemable Sukuk with Warrants (Sukuk). The outlook for the rating is stable. Proceeds from the issuance will be used for working capital. The rating reflects the strong market position of WCT’s construction and civil engineering business and its ability to sustain significant competitive chal...

MARC has reaffirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and AAA/MARC-1, respectively. The ratings carry a stable outlook. TMB is a financing vehicle wholly owned by Kuala Dimensi Sdn Bhd (KDSB), incorporated solely for the purpose of issuing the fi...

MARC has affirmed the rating of Free Zone Capital Berhad’s (FZCB) RM410.0 million fixed rate serial bonds and up to RM70.0 million Commercial Papers/Medium-Term Notes (CP/MTN) programme at AAA and AAA/MARC-1 respectively. The ratings carry a stable outlook. FZCB is a wholly owned subsidiary of Kuala Dimensi Sdn Bhd (KDSB), incorporated solely for the purpose of issuing the fixed rate serial ...