MARC has received confirmation from Alliance Merchant Bank Berhad, the facility agent for Shamelin Bina Sdn Bhd’s (“SBSB”) RM100 Million Murabahah Medium-Term Note Issuance Facility (MMTN), that the facility has been fully redeemed and cancelled on 8th March 2007. As such, MARC no longer has any rating obligation on the facility, and has accordingly, withdrawn the A- ID rating. ...

The financial strength rating of CGC is underpinned by the institution’s healthy financial fundamentals, its sound credit culture and adequate risk governance procedures. While CGC's loan guarantee schemes portfolio intrinsically involves higher credit risks, this has been effectively managed and mitigated. CGC’s liquidity and capital are adequate given the institution's controlled ris...

MARC has assigned a rating of AAA to ABS Samudera Receivables Bhd’s (ASRB) RM25.0 million Notes Series-A under the RM250.0 million Medium-Term Notes (MTN) Programme. The rating of the first issuance of Notes by ASRB is premised on the credit enhancement provided by the sizeable excess spread and a liquidity reserve balance equivalent to approximately RM1.5 million, to be built up progressive...

The corporate debt rating of Bumiputra-Commerce Holdings Berhad (“BCHB”), formerly known as Commerce Asset-Holding Berhad, has been upgraded from A+ to AA- following the merger of CIMB Bank Berhad, formerly known as Bumiputra-Commerce Bank (“BCB”), and Southern Bank Berhad (“SBB”). BCHB is the ultimate parent of the merged entity branded as CIMB Bank Berhad (&ld...

The corporate debt rating of Bumiputra-Commerce Holdings Berhad (“BCHB”), formerly known as Commerce Asset-Holding Berhad, has been upgraded from A+ to AA- following the merger of CIMB Bank Berhad, formerly known as Bumiputra-Commerce Bank (“BCB”), and Southern Bank Berhad (“SBB”). BCHB is the ultimate parent of the merged entity branded as CIMB Bank Berhad (&ld...

The rating of MAA Holdings Berhad’s (MAAH) RM120 million Serial Bonds has been upgraded from A- to A with a Stable Outlook. The rating reflects the overall financial strength of its main subsidiary Malaysian Assurance Alliance Berhad (MAA) and MAAH’s successful issuance of its RM200 million CP/MTN Programme for debt repayment, working capital and business expansion in January 2007. MAA...

The ratings of RCE Premier Sdn Bhd’s (RCEP) RM45.0 million Fixed Rate Serial Bonds and up to RM50.0 million CP programme has been reaffirmed at A/MARC-2 with stable outlook. The rating is supported by, amongst others, the collateral, comprising identified eligible receivables (IER) and cash balances in the designated accounts backing the bonds and CPs, of not less than 1.3 times the total ou...

MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium-Term Notes programme (referred to as the Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes with stable outlook. The affirmation is a reflection of at least 1.66 times collateral backing Class A and B notes which is maintained at a...

MARC places the rating of Bumiputera-Commerce Holdings Bhd.’s (“BCHB”) RM250 million Redeemable Unsecured Bonds (2001/2008) on MARCWatch with positive outlook pursuant to BCHB’s disposals of equity interests in Commerce Life Assurance Bhd. (“CLAB”), Commerce Takaful Bhd. (“CTB”) and Commerce Assurance Bhd. (CAB”).BCHB announced on 4 January 200...

The rating of Shamelin Bina Sdn Bhd’s (“SBSB”) RM100 Million Murabahah Medium-Term Note Issuance Facility (MMTN) has been reaffirmed at A-ID. The reaffirmed rating principally reflects the financial and credit profile of SBSB’s consumer co-operative parent, Koperasi Shamelin Berhad (KSB), and the notes’ protective issue structure, offset by the cyclical nature of the ...