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MARC has assigned a final rating of AA-IS to WCT Holdings Berhad’s (WCT Holdings) Sukuk Murabahah Programme of up to RM1.5 billion. The outlook on the ratings is stable.Full details on the assigned rating have been provided in WCT Holdings’ preliminary rating announcement on September 26, 2014. The full Credit Analysis Report is available on MARC’s website at www.marc.com.my.Con...
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MARC has assigned a preliminary rating of AA-IS with a stable outlook to WCT Holdings Berhad’s (WCT Holdings) proposed RM1.5 billion 15-year Sukuk Murabahah programme. Concurrently, MARC has affirmed its existing debt ratings with a stable outlook on WCT Holdings’ outstanding issuances as follows:RM300 million 7-year Islamic Commercial Paper (ICP)/Islamic Medium-Term Notes (IMTN) Progr...
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MARC is issuing this rating update as part of its ongoing surveillance on Talam Transform Berhad's (Talam) Settlement Bithaman Ajil Debt Securities (Settlement BaIDs). MARC notes that Talam’s wholly-owned subsidiary, Ample Zone Sdn Bhd (Ample Zone), has now fully settled its Sukuk Al-Ijarah obligations on which the company missed principal payments in January 2012. With this full settlement ...
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MARC has affirmed the 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 RM610.0 million. The bonds are backed by deferred payment receivables from Port Klang Authority (PKA) based on the sale and purchase of a 999.5-acre leasehold land on Pulau Inda...
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MARC has withdrawn its ratings of MARC-1ID/AA-ID on WCT Holdings Berhad’s (WCT Holdings) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ratings withdrawal follows the cancellation of the facility on May 7, 2014 as confirmed by the facility agent. MARC’s analytical coverage on WCT Holdings is now limited to the following rated debt issuances:RM300.0...
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MARC has affirmed the long-term and short-term ratings on investment holding company WCT Holdings Berhad’s (WCT Holdings) existing debt and sukuk issuances as follows:RM100 million 7-year Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) at MARC-1ID/AA-ID; RM300 million 7-year ICP/IMTN at MARC-1ID/AA-ID;RM600 million 5-year Fixed Rate Serial Bonds at AA-; andRM1.0 billion 15-year MT...
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MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) Commercial Paper/Medium Term Notes Programme (CP/MTN) with a stable outlook. Outstanding notes under the programme comprise RM300.0 million CP and RM450.0 million MTN.The affirmed ratings incorporate IJM group’s moderate business and credit risk profiles arising from its fairly diverse business segments, namely ...
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MARC has affirmed its AAA(fg) rating on TRIplc Ventures Sdn Bhd’s (TVSB) up to RM240.0 million Senior Medium Term Notes (Senior MTNs) with a stable outlook. The rating reflects the credit strength of an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) on TVSB’s debt service obligations in relation to its Senior MTNs. Danajamin carries ...
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MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200.0 million Murabahah Medium Term Notes (MMTN) Programme at AAID with a stable outlook. ISPV, a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB), was set up solely to facilitate the issuance of the MMTNs to finance the purchase of completed telecommunication (telco) towers constructed by the latter. ISPV has RM15...
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MARC has affirmed the 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 RM740.0 million following the redemption of the RM100.0 million Series 6 in July 2012. The assets backing the transaction comprise the deferred payments from Port Klang Authorit...
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