The long and short term ratings of AID/MARC-2ID assigned to Maxtral Industry Berhad’s (Maxtral) RM80 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) Facility and RM20 million Murabahah Underwritten Notes Issuance Facility/Murabahah Medium Term Notes Issuance Facility (MUNIF/MMTN) are underpinned by Maxtral Industry Berhad and its subsidiaries’ (Group) operating track record sup...

MARC has affirmed Tracoma Holdings Berhad’s (“Tracoma”) RM100 million Al- Bai’ Bithaman Ajil Islamic Debt Securities (“BaIDS”) at AID, underpinned by Tracoma Group’s proven track record as a Tier-1 local automotive component manufacturer coupled with its on-going expansion plans. Nonetheless, moderating factors to the rating include the Group’s exposure towards the automakers’ pe...

MARC has placed M-Trex Corporation Sdn Bhd’s (“M-Trex”)’s RM60.0 million Murabahah Commercial Paper on MARCWatch with a Negative Outlook. The initial rating at MARC-2 ID was assigned in September 2004. The action is based upon M-Trex’s failure, despite numerous requests, to provide the necessary information for MARC to carry out its first annual surveillance review. M-Trex is an investm...

MARC has affirmed 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). The affirmation reflects the company’s dominant position as the sole newsprint producer in Malaysia; improvement in newsprint price since mid-2003; and the protection derived from the anti-dumping duties imposed by...

The affirmation of Leader Universal Holdings Berhad’s (LEADER) rating of AID reflects the Group’s leading position in the cable and wire manufacturing industry as well as the stable revenue contribution from its power generation business in Cambodia. The rating, however, is moderated by thin margins from its cable and wire products; the large number of players relative to major consumers in th...

The affirmation of AAAID and AAAID(s) assigned to Optimal Olefins (Malaysia) Sdn Bhd’s (“Olefins”), Optimal Glycols (Malaysia) Sdn Bhd and Optimal Chemicals (Malaysia) Sdn Bhd’s (“G&C”) debt issuance respectively reflect the Optimal Group of companies’ (“Optimal Group”) competitive edge in the petrochemical industry, stemming from its large-scale vertical operational integration;...

The rating reaffirmation of Merbok Hilir Berhad’s (Merbok) RM150.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BBA Bonds) at AID is reflective of Merbok Group’s proven track record in the MDF industry and its fairly robust financial position. Moderating factors, however, include the inherent risks of such commodity-based industry, high capital requirements driven by rapidly evolving technolo...

MARC has affirmed the ratings of Premium Nutrients Berhad’s (Premium Nutrients) RM85 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/IMTN) at MARC-2ID / AID. The affirmation reflects the Group’s competitive position as an integrated producer of specialty fats; its diversified customer base and the structural features in the issue structure. The ratings a...

The reaffirmation of Negeri Sembilan Cement Industries Sdn Bhd’s (NSCI) RM200 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) rating at A+ID(bg) reflects the security provided by AmMerchant and Bumiputra-Commerce Banks’ respective Bank Guarantees; whilst the reaffirmation of the rating MARC-2 ID /A-ID accorded for NSCI’s RM130 million Murabahah Notes Issuance Facilities (MUNIF) ref...

MARC has affirmed the short and long-term ratings of MARC-2ID and A-ID (A minus, Islamic Debt) in respect of Paradym Resources Industries Sdn Bhd’s (PRI) Islamic Commercial Paper/Medium Term Notes Issuance Programme (Islamic CP/MTN). The affirmation of the ratings reflects PRI’s commendable improvement in its financial position and PRI’s status as a reputable manufacturer of superior quality...