MARC has assigned respective short- and long- term ratings of MARC-2 and A with a developing outlook to Axis Incorporation Berhad’s (“Axis”) proposed RM100.0 million Commercial Papers/Medium-Term Notes (“CP/MTN”) Programme. The ratings reflect the group’s competitive position as an international OEM (“original equipment manufacturing”) player in the ...

MARC has reaffirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme (BBAT) at BBB+ID(s) with stable outlook, reflecting the company’s dominant position as the sole newsprint producer in Malaysia; improvement in its financial performance during the fiscal year under review; the protection ...

Following our announcement dated 29 December 2006, we have placed the ratings of EPMB’s RM150 million Murabahah Notes Issuance Facility (MUNIF) and RM120 million MUNIF, both rated at MARC-2ID, on MARCWatch with developing outlook. This is pursuant to Abrar Discount Berhad (Abrar)’s announcement on Bank Negara Malaysia (BNM)’s instruction to Abrar to cease operations.MARC was made...

The rating of Petronas Fertilizer (Kedah) Sdn Bhd’s (PFK) RM750 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) has been reaffirmed at AAAID(s) with a Stable Outlook. The rating reflects the support rendered by its holding company, Petroliam Nasional Berhad (PETRONAS) in ensuring PFK’s ability to meet its BaIDS obligation at all times. On a stand alone basis, PFK has perfo...

MARC has placed the ratings of PRI’s RM40.0 million Islamic Commercial Paper/Medium Term Note Issuance Programme on MARCWatch Developing with immediate effect. The rating action follows from PRI’s recent acquisition of the Royal Mint of Malaysia Sdn Bhd (RMM), and information that RMM’s RM46 million Murabahah Multi Option Notes issuance facility (the facility), which is not rated...

MARC has affirmed the ratings of Premium Nutrients Berhad’s (PNB) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/IMTN) at MARC-2 ID / A ID with a stable outlook. The affirmation mainly reflects PNB Group’s competitive position as an integrated producer of speciality fats, its business strategy focusing on niche markets but with a well diver...

The short/long term ratings of MARC-2ID/AID with stable outlook assigned to Boon Koon Group Berhad’s (‘BKGB’ or the ‘Group’) issuance of seven-year Islamic Commercial Papers/Medium-Term Notes (ICP/MTN) with nominal value of up to RM100 million mainly reflect BKGB’s dominant position in the rebuilt commercial vehicle industry, supported by robust growth experienc...

MARC has upgraded the rating of Negeri Sembilan Cement Industries Sdn. Bhd.’s (“NSCI”) BaIDS to AA-ID(bg), reflecting the strength of the guarantor banks; Bumiputra Commerce Bank Berhad (AA) and AmMerchant Bank Bhd. which has been recently upgraded from A+ to AA-. Our reaffirmation of MARC-2ID/A-ID accorded for NSCI’s MUNIF reflects its financial profile which continues to ...

MARC has affirmed the short and long term ratings of MARC-2ID/AID  respectively of second-tier materials handling and factory automated solutions provider, Malaysian AE Models Holdings Berhad’s (“MAE”) RM200 Million Islamic Commercial Paper/Islamic Medium-Term Notes Programme. The ratings carry a stable outlook. The ratings reaffirmation reflects MAE’s improved geograp...

MARC has reaffirmed the rating of AAAID to Optimal Olefins (Malaysia) Sdn Bhd’s (‘Olefins’) debt issuance and AAAID(s) to Optimal Glycols (Malaysia) Sdn Bhd (‘Glycols’) and Optimal Chemicals (Malaysia) Sdn Bhd’s (‘Chemicals’) (both Glycols and Chemicals referred to as ‘G&C’) debt issuances respectively. The ratings continue to reflect...