MARC has affirmed the ratings of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN at A(bg)/ MARC-1(bg). This reflects the weakest link rating within the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. The bank guarantors consist of Aseambankers, Malayan Banking Berhad, Bumiputra Commerce Bank Berhad and EON Bank Berhad. CNLT is...

MARC has affirmed KFC Holdings (Malaysia) Bhd’s (“KFCH”) RM300.00 million Islamic Notes Issuance Facility (INIF) rating of A+ID, with developing outlook. KFCH is an investment holding company with subsidiaries involved in restaurant operations, convenience food store chain, integrated poultry operations and other related ancillary operations.The ratings outlook reflects the uncertainty posed...

DeGem Berhad’s (DeGem) RM50.0 million MUNIF/IMTN programme has been reaffirmed at MARC-2ID/A+ID to reflect the Group’s proven track record as one of the leading jewellers in Malaysia. The ratings also took into consideration DeGem’s better than average financial profile characterised by its low gearing and favourable liquidity profile. Moderating factors include the inherent risks of the ret...

MARC has assigned short and long term-ratings of MARC-2ID and AID respectively to Hytex Integrated Berhad’s (“HIB”) Murabahah Underwritten Notes Issuance Facility /Islamic Medium-Term Notes (“MUNIF/IMTN”) of up to RM100.0 million. The ratings reflect the group’s profile as an integrated garment manufacturer; long established relationship with a major international sports brand and supe...

MARC International has reaffirmed the rating of First Global Sukuk Inc.’s Serial Islamic Lease Sukuk Issuance of up to USD368 million at A-IS, reflecting Kumpulan Guthrie Berhad’s (as the lease paymaster) strong position as one of the country’s leading plantation players cum property developer with vast land banks in Malaysia and Indonesia; strong financial flexibility and the anticipation o...

MARC has received confirmation that the second redemption of KFC Holdings (Malaysia) Berhad’s RM300 million Al-Bai’Bithaman Ajil Facility (ABBA) amounting to RM30.0 million was made on 19 January 2005. Hence, effective 20 January 2005, the facility limit has been reduced to RM240.0 million, taking into consideration the abovementioned redemption and the earlier redemption of RM30.0 million in ...

MARC has reaffirmed the corporate debt rating of KFC Holdings (Malaysia) Berhad’s (KFCH) RM300 million Islamic Notes Issuance Facility (INIF) at A+ID and at the same time, has placed the rating on positive outlook, in anticipation of an additional RM90 million cash proceeds from the proposed sale and lease back of Wisma KFC. The rating reaffirmation reflects the Group’s strong brand presence i...

MARC has upgraded the rating of CNLT (Far East) Berhad’s (CNLT) RM60 million Bank Guaranteed CP/MTN to A(bg)/ MARC-1(bg), reflecting the weakest link rating of the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions. CNLT, a medium sized manufacturer of yarn, faced a challenging year in 2003. Demand in the international textile market, particularly fr...

MARC has assigned the ratings of MARC-2ID/A+ID to DeGem Bhd’s (DeGem) proposed RM50.0 million private debt securities (PDS). The ratings reflect the Group’s proven track record as one of the leading jewellers in Malaysia. The ratings also took into consideration DeGem’s better than average financial profile characterised by its low gearing and favourable liquidity profile. Moderating factors...

MARC has received confirmation from Motosikal Dan Enjin Nasional Sdn Bhd that its RM80 million MUNIF facility has been fully redeemed and it has arranged for cancellation of the facility and termination of all agreements related to the facility. As such, MARC no longer has any rating obligation on the facility and the MARC-2ID rating is hereby withdrawn....