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MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...
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MARC has affirmed its MARC-1ID/AID ratings on Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect the strength of the jeweller’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by declines in consumer co...
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MARC is issuing this rating update in connection with its MARC-2ID /A-ID ratings on HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes. Following MARC’s affirmation of the ratings on 14 November 2007 and revision of its ratings outlook to developing from stable, HIB was not able to restore its debt leverage and liquidity measures by end-Janu...
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MARC has removed the MARC-2ID /A-ID ratings of HIB’s RM100.0 million Murabahah Underwritten Notes Issuance Facility/ Islamic Medium Term Notes (MUNIF/ IMTN) from MARCWatch Negative and reaffirmed the ratings. The reaffirmed ratings reflect MARC’s expectations of improvements in HIB’s operating performance with its newly commissioned integrated plant in China. The developing outlo...
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MARC has upgraded Degem Berhad’s (DeGem) short-term rating and affirmed the long-term rating for its RM50.0 million Murabahah Partially Underwritten Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at MARC-1ID/AID. The ratings carry a stable outlook. The upgrade of the short-term rating reflects increased consideration given to industry and company-specific liquidity characte...
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MARC has removed CNLT (Far East) Berhad’s (CNLT) MARC-1(bg)/A(bg) ratings from MARCWatch Negative and revised the ratings to “not meaningful”. Subsequently, MARC has withdrawn the ratings. The rating actions follow an announcement by CNLT to Bursa Malaysia on 10 October 2007 that the Company failed to service the interest payment on the RM60.0 million CP/MTN programme. Cons...
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MARC has reaffirmed the short term rating of MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP) at MARC-2ID. The rating outlook is developing. The rating affirmation reflects the company’s average business risk profile as an edible palm oil products manufacturer, its good geographical diversification, improving cost structure and the anticipation of ...
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MARC has placed the MARC-2 ID /A- ID ratings of Hytex Integrated Berhad’s (HIB) Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) of up to RM100.0 million on MARCWatch Negative. The MARCWatch placement reflects rising debt levels which have resulted in a debt to equity ratio of 1.49 times that is close to the covenanted cap of 1.50 times and could lead to ...
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MARC has withdrawn the A+ID rating assigned to KFC Holdings (Malaysia) Bhd’s (“KFCH”) RM300 million Islamic Notes Issuance Facility (INIF) with immediate effect, following confirmation by KFCH that the INIF has been paid in full....
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MARC has placed CNLT (FAR EAST) Berhad’s (CNLT) RM60 million Bank Guaranteed Commercial Papers/Medium Term Notes ratings of MARC-1(bg)/A(bg) respectively on MARCWatch Negative. The MARCWatch placement follows the announcements by CNLT’s Board of Directors to Bursa Malaysia on 12 September 2007 and 13 September 2007 that Provisional Liquidators have been appointed upon application by a ...
This article has been viewed 1203 times.