MARC has received confirmation from Abrar Discount Berhad as the facility agent for Priceworth Wood Products Berhad’s RM60 million MONI facility that the facility has been fully redeemed and cancelled and all agreements related to the facility has been terminated accordingly. As such, MARC no longer has any rating obligation on the facility and the AID / MARC-2 ID rating is hereby withdrawn....

The rating reflects Priceworth Wood Products Berhad (Priceworth) Group’s improving financials underpinned by growing timber extraction activity/contracting services coupled with high operational integration pertaining to its manufacturing activities. The Group’s vulnerability to cyclical developments affecting the timber/wood-based industry remains a moderating factor to the rating.Promoted t...

MARC has upgraded the ratings of Negeri Sembilan Cement Industries Sdn Bhd’s (NSCI) RM200.0 million Bai’ Bithaman Ajil Islamic Bonds (BaIDS) to A+ID(bg) (A Plus, Islamic Debt, Bank Guaranteed) and the long-term rating of its RM130.0 million Murabahah Notes Issuance Facility (MUNIF) to A-ID (A Minus, Islamic Debt), while the short-term rating of the MUNIF was affirmed at MARC-2ID. The upgrade o...

MARC has assigned a short term rating of MARC-2ID to M-Trex Corporation Sdn Bhd’s (MCSB) proposed 7-year RM60 million Islamic Commercial Paper Programme under the financing principle of Murabahah. The rating is premised on MCSB’s position as the leading local manufacturer of anodised aluminium panels for the mid to high end audio video equipment market, exclusive agency rights to distribute ca...

MARC has affirmed the rating for Mithril Berhad’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) at BBB, reflecting the recent completion of the corporate exercise with the injection of new businesses and a tight underlying issue structure. The rating is, however, constrained by Mithril’s exposure to the manufacturing industry, in particular the brick manufacturing b...

MARC has affirmed the ratings of Pesaka Astana (M) Sdn Bhd’s (PASB) RM140 million Al-Bai Bithaman Ajil Islamic Bonds (BaIDS) at A+ID and the RM200 million Commercial Paper/Medium Term Notes facility at MARC-1/A+ reflecting PASB’s competitive position as the leading assembler and provider of customized heavy-duty and specialized vehicles for agencies like the Ministry of Defence (MINDEF) and Fi...

The rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bond programme (BBAT) has been reaffirmed at BBBID +(s) reflecting the company’s dominant position as the sole newsprint producer in the country; coupled with anti-dumping duties imposed by the government on imported newsprint which directly limit overseas competition;...

MARC has affirmed Malaysian AE Models Holdings Berhad (MAE)’s RM80 million Nominal Value Fixed Rate Serial Bonds rating at A-. The affirmation is a testament of the company’s competitiveness in the industry by virtue of its position as the country’s leading manufacturer and distributor of factory automation and material handling systems and the strategic decision by MAE to broaden its revenu...

The affirmation of the AID rating assigned to Merbok Hilir Berhad’s (Merbok) RM150.0 million Al-Bai’ Bithaman Ajil Serial Bonds (BBA Bonds) is premised on the Group’s proven track record in the highly competitive MDF industry; the favourable outlook of the international Medium Density Board (MDF) industry, as well as its well-capitalised balance-sheet. However, the balancing factors taken i...

The rating upgrade to AID / MARC-2 ID reflects Priceworth Wood Products Berhad (Priceworth) Group’s improving financials underpinned by growing timber extraction activity/contracting services coupled with high operational integration pertaining to its manufacturing activities. The Group’s vulnerability to cyclical developments affecting the timber/wood-based industry remains a moderating fact...