MARC has reaffirmed the AAA(s)ID rating of Kuching Port Authority’s (KPA) RM180 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is stable. KPA is the first organised port in the state of Sarawak. The AAA(s)ID  is rooted in the evident implicit support by the Sarawak State Government for KPA’s BaIDS through a letter of support which undertake...

MARC has reaffirmed its rating on SAJ Holdings Sdn Bhd’s (‘SAJH’) RM1.28 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) at AA- ID with a stable outlook. The rating is premised upon SAJH’s dominant position as the sole distributor of treated water in the State of Johor; robust water demand; improved financial performance in FY2007; low operating risk and improved ...

MARC has upgraded the corporate debt rating of Westports Malaysia Sdn Bhd’s (Westports) RM350 million Floating Rate Notes. The rating has been upgraded to AA+ from AA. The rating outlook is stable. The rating upgrade and outlook reflects MARC’s expectations that the port operator will maintain its very strong financial profile with good top-line growth and strong earnings growth. Reven...

MARC has reaffirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme ratings of MARC-1ID /AA- ID. The ratings carry a stable outlook. The ratings reflect SYABAS’ dominant position as the sole distributor of treated water for the states of Selangor, Kuala Lumpur and Putrajaya; the low risk nature of the water ...

The ratings of PNSB’s RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM546.875 million Junior Notes A (“A Notes”) have been reaffirmed at AAID and A+ respectively. MARC has also affirmed PNSB’s RM435 million Nominal Value Redeemable Unsecured Bonds (“RUBs”) ratings at A+. The ratings carry a stable outlook. The ratings are sup...

MARC has reaffirmed the A+ long term rating of PNHB’s RM546.875 million Redeemable Unconvertible Junior Notes (“RUN”) with detachable warrants. The rating outlook is stable. The RUN are rated the same as its subsidiary, Puncak Niaga (M) Sdn Bhd’s (“PNSB”) Junior Notes A (“A Notes”) which are secured on a back-to-back basis against PNSB’s RM546....

MARC has reaffirmed the rating of AA- ID of Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS). MARC also reaffirmed the MARC-1 and AA- (bg) ratings of its RM125 million Revolving Underwritten Facility (RUF) and RM365 million Bank Guaranteed Serial Fixed Rate bonds (BG Bonds) respectively. The ratings outlook is stable. The...

MARC has revised its outlook on Westports Malaysia Sdn Bhd’s (Westports) AA rating of its RM350 million Floating Rate Notes to positive from stable.   The outlook revision reflects Westport’s improving financial profile. Westports posted  RM753.0 million revenue for the first 11 months of FY07, up 10.5% from the corresponding period in FY06 in line with the higher cargo ...

MARC has upgraded Gas Malaysia Sdn Bhd’s (“Gas Malaysia”) long-term rating to AAAID from AA+ID and reaffirmed its short term rating at MARC-1ID with respect to its RM200.0 million Al-Murabahah Commercial Papers/Medium Term Notes Programme (“CP/MTN”) and RM500.0 million Al-Murabahah Medium Term Notes Programme (“MTN”). The ratings outlook is stable. The upg...

MARC has withdrawn the MARC-1ID /AAID rating assigned to Puncak Niaga (M) Sdn Bhd’s RM350.0 million MCP/MMTN with immediate effect, following confirmation by United Overseas Bank (Malaysia) Bhd, the Facility Agent, that the facility had expired on 11 October 2007. The facility had been fully redeemed in 2005, with no further utilization prior to its expiry....