MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (collectively referred to as Senior Notes) and RM10 million Junior IMTNs (Junior Notes) at MARC-1ID/AAID and A+ID respectively. The ratings outlook is stable. The rating action affects RM33 million of outstanding notes, comprising RM30 million ...

MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating derives from intermediate and ultimate holding company Putrajaya Holdings Sdn Bhd’s (PJH) and Petroliam Nasional Berhad’s (PETRONAS) continued su...

MARC has affirmed the AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating is aligned to MARC’s public information rating on the Sarawak state government (SSG) on the basis of its statutory body status as well as a letter of support provided by the SSG for the BaIDS and demonstrat...

MARC has placed its ratings on Senai-Desaru Expressway Berhad's (SDEB) RM1.89 billion nominal value Senior Sukuk Ijarah Medium Term Notes (Senior Sukuk) Programme and RM3.69 billion nominal value Junior Sukuk Ijarah Medium Term Notes (Junior Sukuk) Programme on MARCWatch Negative. SDEB is the concession holder for the Senai-Pasir Gudang-Desaru Expressway (E22).The negative MARCWatch placement refl...

MARC has downgraded its ratings on Tanjung Langsat Port Sdn Bhd’s (TLP) RM250.0 million Sukuk Musyarakah Bonds and RM135.0 million Musyarakah Commercial Papers/Musyarakah Medium Term Notes Programme (MCP/MMTN) to BBB+IS and MARC-3ID/BBB+ID from A-IS and MARC-2ID/A-ID respectively. The outlook on the ratings remains negative. The rating action reflects TLP’s continued losses and weak ca...

MARC has issued a clarification notice pertaining its October 22, 2012 rating announcement of Senari Synergy Sdn Bhd’s (Senari Synergy) RM380.0 million Islamic Medium-Term Notes (IMTN) Programme. The last sentence of the last paragraph of the rating announcement should have read as follows:“Any changes in the supported ratings or rating outlook would be primarily driven by changes in D...

MARC has affirmed its AAAIS(fg) rating on Senari Synergy Sdn Bhd’s (Senari Synergy) RM380 million Islamic Medium-Term Notes (IMTN) Programme. The outlook on the rating is stable. The affirmed rating and outlook reflect an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) on the sukuk obligations. MARC’s current AAA/stable rating for Danajamin is ...

MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes Programme rating at AAIS. The rating outlook is stable. The affirmed rating reflects the adequacy of cash flows from the three identified payment sources for the sukuk: APSB’s rental income from its two office buildings and assigned cash flows from sister companies, Alloy Toll Managemen...

MARC has withdrawn its AAAID rating on Tenaga Nasional Berhad’s (TNB) RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility with immediate effect following the redemption of its final tranche of RM150 million on October 1, 2012 and cancellation of the facility as confirmed by the facility agent, KAF Investment Bank Berhad, on October 2, 2012. MARC’s analytical coverage on T...

MARC has affirmed its rating on ANIH Berhad's (ANIH) RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) at AAIS with a stable outlook.The affirmed rating reflects consistent traffic growth for ANIH’s portfolio of mostly matured toll concessions, namely the Kuala Lumpur-Karak Highway (KL-Karak), Phase 1 of the East Coast Expressway (ECE1) and the Kuala Lumpur-Seremban Expresswa...