Press Releases - Category: Industrial Products
Displaying 1-10 of 371 results.
Monday, Apr 11, 2022
MARC Ratings has affirmed Top Glove Corporation Bhd’s (Top Glove) corporate credit rating at AA+ and concurrently affirmed its wholly-owned TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Wakalah Programme rating at AA-IS(CG). The ratings outlook is stable. The rating on the perpetual sukuk reflects its subordination to Top Glove group's senior unsecured obligations. Top Glove’s le...

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Monday, Apr 04, 2022
MARC Ratings has downgraded the ratings of Serba Dinamik Holdings Berhad’s Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes from CIS/MARC-4IS to a default rating of DIS. The ratings had been lowered to CIS/MARC-4IS on December 10, 2021 when it failed to meet a coupon payment on an outstanding USD sukuk issued by its wholly-owned subsidiary.The downgrade to DIS foll...

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Wednesday, Dec 15, 2021
MARC has affirmed its rating of AA-IS on Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme with a stable outlook. As of date, the company has issued RM200 million sukuk.The rating is premised on Evyap Malaysia’s strong domestic market position in oleochemicals, its vertically integrated operations, and its ability to broaden its customer base for both soap...

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Friday, Dec 10, 2021
MARC has downgraded Serba Dinamik Holdings Berhad’s Islamic Medium-Term Notes Programme (IMTN) rating to CIS from BBIS/Negative. Serba Dinamik’s Islamic Commercial Papers (ICP) rating remains at MARC-4IS which is the lowest category under the non-investment grade, reflecting the heightened risk of non-repayment on the outstanding RM100 million ICP.MARC’s downgrade action is premised on the m...

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Thursday, Oct 28, 2021
MARC has affirmed its rating of AAAIS on Pengerang LNG (Two) Sdn Bhd’s (PLNG2) Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion. The rating outlook is stable.The affirmed rating is premised on PLNG2’s stable and sizeable revenue generation ability under set tariffs for its regasification services, the low demand risk for the services through a long-term agreement with PETRONAS...

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Thursday, Oct 28, 2021
MARC has affirmed its AAIS/AA ratings on OSK Rated Bond Sdn Bhd’s (OSKRB) Sukuk Murabahah/Multi-Currency Medium-Term Notes Programme (Sukuk/MCMTN) with a combined limit of up to RM2.0 billion. The ratings outlook is stable. OSKRB is a special-purpose funding vehicle of parent OSK Holdings Berhad (OSK) which extended an unconditional and irrevocable guarantee on the rated programme.The affirmed r...

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Thursday, Sep 23, 2021
MARC has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd's (Masteel) RM130.0 million Sukuk Ijarah Programme with a stable outlook.The affirmed rating and outlook are based on the credit strength of Danajamin Nasional Berhad (Danajamin) which has provided an unconditional and irrevocable financial guarantee insurance on the programme. MARC maintains an insurer financial strength rati...

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Friday, Aug 27, 2021
MARC has extended its MARCWatch Negative placement on Serba Dinamik Holdings Berhad’s (Serba Dinamik) RM1.5 billion Islamic Medium-Term Notes (IMTN) Programme and RM500.0 million multi-currency Islamic Commercial Papers (ICP) Programme with a combined limit of RM1.5 billion. The placement, since May 31, 2021, reflects our ongoing concerns on the issues raised on Serba Dinamik’s audited account...

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Wednesday, Aug 11, 2021
MARC has affirmed its AAAIS /MARC-1IS ratings on Gas Malaysia Distribution Sdn Bhd’s (GMD) Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion. The ratings outlook is stable. GMD’s stable revenue generation from distributing natural gas in Peninsular Malaysia through the natural gas distribution system (NGDS...

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Monday, Jul 26, 2021
MARC has affirmed its AA-IS rating on Malaysian Resources Corporation Berhad’s (MRCB) Islamic Medium-Term Notes Programme of up to RM5.0 billion (Sukuk Murabahah) with a stable outlook. MRCB’s well-established market position in property development with a focus on transit-oriented developments (TOD), and in the construction sector in which it maintains a sizeable order book remains a key...

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