MARC has withdrawn its rating of AA- on WCT Holdings Berhad’s (WCT Holdings) RM600.0 million Fixed Rate Serial Bonds. The rating withdrawal follows the full redemption of the outstanding RM300.0 million bonds on December 28, 2015 and cancellation of the bond facility as confirmed by the facility agent. MARC’s analytical coverage on WCT Holdings is now limited to the following rated debt ...

MARC has affirmed the rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer...

MARC has affirmed its long-term ratings on WCT Holdings Berhad’s (WCT Holdings) debt and sukuk issuances but has revised the ratings outlook to negative from stable. WCT Holdings’ rated debt and sukuk issuances are as follows: RM600.0 million 5-year Fixed Rate Serial Bonds (due December 2015) at AA-; RM1.0 billion 15-year MTN Programme (due April 2028) at AA-; and RM1.5 billion 15...

MARC has affirmed its rating on Talam Transform Berhad’s (Talam) outstanding RM53.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-ID with a stable outlook. The rating incorporates Talam’s weak financial position and limited business prospects, as well as its continued reliance on timely asset disposals to meet substantial financial obligations. Talam’s borrow...

MARC has affirmed its AAA rating on Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility with a negative outlook. The rating action affects the outstanding bonds of RM480.0 million. The affirmed rating is premised on the satisfactory and timely repayment track record of Port Klang Authority (PKA) in relation to its deferred repayment oblig...

MARC has withdrawn its ratings of MARC-1ID/AA-ID on WCT Holdings Berhad’s (WCT Holdings) RM300.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ICP/IMTN Programme matured on April 15, 2015 and was subsequently cancelled by the facility agent. MARC’s analytical coverage on WCT Holdings is now limited to the following rated debt issuances: • RM600.0 million ...

MARC has affirmed the ratings of MARC-1/AA- on IJM Corporation Berhad’s (IJM) RM1.0 billion Commercial Paper/Medium-Term Notes Programme (CP/MTN). The outlook on the long-term rating is revised to negative from stable. The outstanding notes under the programme comprise RM300.0 million CPs and RM250.0 million MTNs. The negative outlook incorporates the challenging prospects for IJM group&rsqu...

MARC is issuing this update on WCT Holdings Berhad (WCT Holdings) following the recent announcement by its subsidiary WCT Land Berhad that it will acquire 89.3 hectares of land parcels in Serendah, Selangor, for RM115.4 million. The land parcels, which are adjacent to the group’s existing land bank, are expected to provide a fairly large contiguous land area for potential township developme...

MARC has withdrawn its rating of AAID on Instacom SPV Sdn Bhd’s RM200.0 million Murabahah Medium Term Notes (MMTN) Programme. The rating withdrawal follows the early redemption of outstanding notes amounting to RM5.0 million under the MMTN programme and the cancellation of the same on October 31, 2014 as confirmed by the facility agent.Upon the withdrawal of the rating, MARC will no longer ...

MARC has affirmed its rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial ins...