MARC has reaffirmed the MARC-2ID /AID short-term and long-term ratings respectively of second-tier automation and material handling solution provider, Malaysian AE Models Holdings Berhad’s (MAE) RM200 Million Islamic Commercial Paper/Islamic Medium-Term Notes (ICP/IMTN) programme. The ratings carry a developing outlook. The reaffirmed ratings reflect MAE’s strong operating performance,...

MARC has reaffirmed its MARC-2/AID ratings of Maxtral Industry Berhad (Maxtral or the Group) on its RM80 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes/ Murabahah Medium-Term Notes (MUNIF/MMTN) facilities. The ratings carry a stable outlook. The affirmation reflects Maxtral’s satisfactory operating performance, moderate debt leverag...

MARC has reaffirmed its MARC-2ID / AID ratings on Premium Nutrients Berhad’s (“PNB”) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The ratings reflect PNB’s good business position as a specialty and non-specialty fats manufacturer with a broad product range and geographically diversifi...

Evermaster Group Berhad’s (“EGB” or “Group”) A- ID and MARC-2ID/A- ID ratings on its RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (MONIF) remain on MARCWatch Negative where they had been placed since July 13, 2007. The MARCWatch Negative reflects the Group’s working capital ...

MARC has lowered its rating on Ingress Sukuk Berhad’s (ISB) RM160 million Sukuk Al Ijarah Issuance to AIS from A+ IS, and removed it from MARCWatch Developing. The outlook for the rating is stable. The downgraded rating reflects Ingress Corporation Berhad’s (“Ingress” or “the Group”) deteriorating profitability and the breach of its debt-to-equity covenant, resu...

M-Trex Corporation Sdn Bhd’s (M-Trex) MARC-3ID rating on its RM60.0 million Islamic Commercial Paper Programme (ICPs) remains on MARCWatch Negative where it had been placed on September 14, 2007. MARC is unable to resolve the MARCWatch placement as the resolution of covenant breaches is contingent on the restructuring of its existing borrowings which is expected to be completed only in early...

MARC has placed its AID /MARC-2ID  ratings on Emas Kiara Industries Bhd’s (EKIB)  RM80 million Partially Underwritten Murabahah Notes Issuance Facility / Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) on MARCWatch Developing. The action follows EKIB’s announcement on November 27, 2007 that the Company had entered into a conditional sale and purchase agreement to acq...

MARC has upgraded KNM Capital Sdn Bhd’s (KNMC) long-term rating from A+ID  to AA- ID, and reaffirmed its short-term rating at MARC-1ID with respect to KNMC’s RM300.0 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium-Term Notes (MUNIF/IMTN). The rating carries a stable outlook.  KNMC is a wholly-owned subsidiary of KNM Group Berhad (KNM) and serves as the...

MARC has revised the MARCWatch status on the MARC-2/A ratings of Axis Incorporation Berhad’s (Axis) RM100.0 million Commercial Papers / Medium-Term Notes Programme (CP/MTN) upon completion of its annual review, from Negative to Developing. The revision in MARCWatch status reflects an anticipated refinancing of the CP/MTN facility with bank borrowings by end 2007. The Company is at an advance...

MARC has reaffirmed the A+ID /MARC-1ID ratings of Weida (M) Bhd’s (Weida) RM100 Million Murabahah Underwritten Notes Issuance / Islamic Medium Term Notes Facility. The rating outlook is stable. The reaffirmed ratings reflect the group’s consistent financial performance and its competitive position in the supply of high density polyethylene (HDPE) engineering products to the water and s...