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MARC has reaffirmed the ratings of Transshipment Megahub Berhad’s (TMB) RM1,095.0 million bonds and up to RM360.0 million of CP/MTN facility at AAA and MARC-1/AAA respectively. The bonds and CP/MTN are secured by the assignment of rights, titles and benefits to the payment obligations of the Port Kelang Authority (PKA) pursuant to a development agreement and supplemental agreements between P...
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The ratings of Nam Fatt Corporation Bhd’s (Nam Fatt) RM250 million Islamic Commercial Paper/Islamic Medium-Term Notes Programme have been affirmed at MARC-1ID/A+ID with a stable outlook, premised on the tight issue structure governing this facility, with strict guidelines for drawdown and restrictions on the type of contracts, which includes among others clearance from MARC that such contrac...
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MARC has placed Jana Niaga Sdn Bhd’s (“JNSB”) RM100.0 million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) on MARCWatch with developing implications. The MUNIF had been downgraded earlier in May 2006 from MARC-2ID to MARC-3ID following JNSB’s deteriorating cash flow position arising from the failure of University Industri Selangor (“UNISEL&rdqu...
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Following the full redemption of Road Builder (M) Sdn Bhd’s (“RBM”) RM400.0 million Repackaged RBM Income Securities Facility on 30 November 2006, MARC has withdrawn Road Builder (M) Holdings Bhd’s (RBH) corporate credit rating of A+, at the company’s request....
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MARC has received confirmation from Alliance Investment Bank Berhad as the facility agent for Road Builder (M) Sdn Bhd (“RBM”), that RBM’s RM400.0 million Repackaged RBM Income Securities Facility was fully redeemed on 30 November 2006. As such, MARC no longer has any rating obligation on the facility and the A+(s) rating is hereby withdrawn....
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MARC has placed PECD Berhad’s (PECD) RM200 million Serial Fixed Rate Bonds Programme’s rating on MARCWatch with an outlook change from stable to negative. The rating action follows from MARC’s announcement that the long and short term ratings of PECD’s 70% owned subsidiary Peremba Jaya Holdings Sdn Bhd’s (PJHSB) RM200 million Murabahah Underwritten Notes Issuance Faci...
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MARC has received confirmation from Standard Chartered Bank Malaysia Berhad as the facility agent for Ranhill Berhad (“Ranhill”), that the partially underwritten RM300.0 million Murabahah Commercial Papers (“MCP”) / Murabahah Medium-Term Notes (“MMTN”) Programme has been redeemed and refinanced through an issuance of USD220 million nominal value Guaranteed Notes...
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MARC has reaffirmed the AAA rating of Special Port Vehicle Bhd’s (SPV) RM1,310.0 million nominal amount asset-backed serial bonds facility. MARC is of the view that the credit quality of the transferred receivables is closely aligned to the credit worthiness of the Government of Malaysia (GOM) who has issued a letter of support affirming the economic importance of the Port Klang Free Zone (P...
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MARC has placed IJM Corporation Berhad’s (“IJM”) RM300 million Commercial Papers/ Medium-Term Notes Programme (“CP/MTN”) on MARCWatch with a developing outlook following an announcement that it will acquire stakes in Road Builder Holdings Bhd.In January 2006, the CP/MTN ratings were affirmed at MARC-1ID and A+ID respectively. MARC will closely monitor developments and...
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The proposed 10-year Medium-Term Notes (“MTN”) programme represents a structured transaction involving the assignment of contract proceeds due from Syarikat Perumahan Negara Berhad (“SPNB”), wholly owned by the Ministry of Finance Incorporated, to the Issuer, Tirai Impresif Sdn Bhd (“Tirai”); in respect of two contracts to supply and install roof tiles and galva...
This article has been viewed 1136 times.