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The affirmation of WCT Engineering Bhd’s (WCT) corporate debt rating of A– (s) reflects the group’s competitive position in the civil engineering and building segment of the construction industry; good track record; improving financial profile; conservative financial management and an experienced management team. The bonds issue is supported by an irrevocable banking facility of RM15 milli...
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The affirmation of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) Islamic debt ratings reflect the assignment of specific contract proceeds for the purpose of the redemption of the ABBA and MUNIF facilities; manageable risks associated with its various projects; and the company’s improving financial position. These factors are, however, tempered by the slow-down in the general economy; continued excess...
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MARC has affirmed IJM Corporation Berhad’s (IJM) corporate debt rating of A (single A flat). The affirmed rating acknowledges the favourable competitive position of the group’s core construction business, the strengthening of its business profile over the past few years as a result of initiatives undertaken by IJM to further grow and diversify its revenue sources, its broadened geographic cove...
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MARC has assigned a rating of AA+ID (Double A plus, Islamic Debt) to Anjung Bahasa Sdn Bhd’s (ABSB) RM110.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities Issuance Facility. ABSB, a single purpose company, was granted the concession to design, construct and complete a new office complex for Dewan Bahasa dan Pustaka (DBP) on a deferred payment basis, and to undertake the maintenance and ...
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WCT Engineering Bhd’s corporate debt rating of A– (s) [single A minus with support] reflects the group’s favourable and competitive position in the civil engineering and building segment of the construction industry, good track record and experienced management team. The issue is enhanced with the assignment of a sinking fund account which captures 10% of gross proceeds from identified cont...
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MARC’s ratings of A-ID (A minus, Islamic debt) and MARC2ID assigned to Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM55 million Al-Bai’ Bithaman Ajil (ABBA) and RM35 million Murabahah Underwritten Notes Issuance Facility (MUNIF) respectively, reflect the assignment of contract and warrant proceeds to the sinking funds for the redemption of the debt securities; the high entry barriers into the civil...
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MARC has assigned a rating of A (Single A) to IJM Corporation Berhad (IJM)’s RM150 million nominal value of 5% redeemable unsecured bonds (2000/2005) with up to 83,015,330 detachable warrants. The rating reflects the group’s strong operating characteristics and favourable competitive position in its traditional construction business, its positive track record in diversifying into non-construct...
This article has been viewed 1385 times.