Press Releases - Category: Industrial Products
Displaying 351-360 of 387 results.
Monday, Dec 13, 2004
MARC has received confirmation from Malaysian Trustees Berhad, the Trustee of Perak-Hanjoong Simen Sdn Bhd’s RM698.0 million Al-Bai’ Bithaman Ajil Secured Serial Bonds, that the bondholders of the bank-guaranteed tranches (TrancheS I – IV) have been paid in full by the bank guarantors. As such, MARC no longer has any rating obligation on the said tranches and the ratings are hereby withdrawn...

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Monday, Nov 29, 2004
MARC has assigned a rating of AID (A Flat, Islamic Debt) to Tracoma Holdings Bhd’s (Tracoma) RM100 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects, amongst others, Tracoma’s vast experience and good track record as one of the leading local automotive component manufacturer and its commendable financial results. The rating is however, moderated by the vulne...

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Thursday, Nov 25, 2004
MARC has received confirmation from Malaysian Trustees Berhad, the trustee of Perak-Hanjoong Simen Sdn Bhd’s (PHSSB) RM698.0 million Bai’ Bithaman Ajil Islamic Debt Securities (ABBA), that PHSSB had missed its profit payment and principal redemption on 17 November 2004. Under the terms of the Trust Deed, this constitutes an event of default; consequently triggering the bank guarantees backing ...

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Wednesday, Nov 17, 2004
The ratings of Premium Nutrients Berhad’s (Premium Nutrients) RM85 million Murabahah Underwritten Notes Issuance Facility / Islamic Medium-Term Notes (MUNIF/IMTN) have been affirmed at MARC-2ID/AID reflecting its competitive position as an integrated producer of specialty fats; and the fairly tight issue structure. Nonetheless, a moderating factor to the ratings is the Group’s thin operating p...

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Tuesday, Nov 09, 2004
MARC has reaffirmed the ratings of Perak-Hanjoong Simen Sdn Bhd’s (PHS) RM698 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) Tranche I (RM370 million) at AAAID(bg) (Triple A, Islamic Debt, Bank Guaranteed), Tranche II (RM50 million) AID(bg) (Single A, Islamic Debt, Bank Guaranteed) and Tranche IV (RM168 million) at A+ID(bg) (Single A Plus, Islamic Debt, Bank Guaranteed) and upgrade...

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Friday, Nov 05, 2004
The short- and long-term ratings of MARC-2ID and A ID for LEADER’s proposed private debt securities reflects the Group’s position in the cables and wires manufacturing industry as well as the stable revenue arising from its power generation business in Cambodia. Moderating factors include the low margins of its cable and wire products, and the Group’s relatively high debt-leverage at present...

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Tuesday, Sep 21, 2004
The assignment of AAAID and AAAID(s) to Optimal Olefins (Malaysia) Sdn Bhd’s (“Olefins”) and 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, strong...

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Tuesday, Sep 07, 2004
MARC has assigned a rating of AID (A Flat, Islamic Debt) to Ace Polymers (M) Sdn Bhd’s (Ace) proposed RM70.0 million Bai’ Bithaman Ajil Islamic Debt Securities. The assigned rating reflects Ace’s status as one of the Tier-1 suppliers to the local automotive industry; strong financial results characterized by its favourable operating profit margin and sufficient cash flow coverage and an issu...

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Monday, Aug 23, 2004
MARC has affirmed the rating of MARC-3ID assigned to Stenta Films (Malaysia) Sdn Bhd’s (Stenta) RM90 million Murabahah Notes Issuance Facility (MUNIF). The rating affirmation reflects the company’s leading position in manufacturing quality Biaxially Oriented Polypropylene (BOPP) films and improving financial profiles of both Stenta and its parent company - P.T. Argha Karya Prima Industry of In...

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Tuesday, Aug 10, 2004
MARC has placed the ratings in respect of PHSSB’s RM698 million BaIDS on rating watch as PHSSB has breached its covenanted debt-to-equity ratio of 1.85 times based on its audited accounts for financial year ended 31 December 2003. The RM698 million BaIDS is made up of five tranches of which four tranches are bank guaranteed. The bank guaranteed tranches carry ratings of AAAID(bg) (Triple A, Isla...

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