Following the breakdown of a switchgear in the Kapar Power Station on 13 January 2005 that had brought four states in the Southern region of the Peninsula, Putrajaya and parts of Kuala Lumpur to a standstill in a five-hour power blackout, MARC will be evaluating the operational as well as financial impact on Tenaga Nasional Berhad (TNB) and Kapar Energy Ventures Sdn Bhd (KEV) pending the results o...

MARC has received confirmation from the Facility Agent, RHB Sakura Merchant Bankers Berhad, that Kertih Terminals Sdn Bhd’s RM500 Million Revolving Underwritten Facility with Term Loan Conversion (1999/2004) has been fully settled. As such, MARC no longer has any rating obligation on the Facility and the respective MARC-1 rating is hereby withdrawn....

MARC has reaffirmed the long term rating of A on Puncak Niaga Holdings Berhad’s (PNHB) RM546.875 million Redeemable Unconvertible Junior Notes (RUN) with detachable warrants. The rating is similar to the rating of Puncak Niaga (M) Sdn Bhd’s Junior Notes A (A notes), which has also been reaffirmed. The rating reaffirmation is a reflection of the perfected security interest of the RUN where it i...

MARC has reaffirmed the ratings of Puncak Niaga (M) Sdn Bhd’s (PNSB) RM1,020 million Bai Bithaman Ajil Islamic Serial Bonds, RM350 million Murabahah Commercial Papers/Murabahah Medium Term Notes and RM546.875 million Junior Notes at AAID, MARC-1ID/AAID and A respectively. The reaffirmation reflects the Federal Government’s assistance in the partial settlement of the long outstanding trade rece...

MARC has reaffirmed the rating of MTD Prime Sdn Bhd’s (MTD Prime) Al-Bai Bithaman Ajil Islamic Debt Securities (BAIDS) rating at AA-ID. This reflects the continuous traffic growth at the KL – Karak Highway being above the Government’s guaranteed traffic volume; and the strength of the company’s financial profile underpinned by the strong revenue growth.MTD Prime is the concession holder of...

MARC has reaffirmed the long term and short term ratings on Gas District Cooling (KLIA) Sdn Bhd’s (GDC KLIA) CP/MTN at AAID/MARC-1. The ratings reflect GDC KLIA’s captive offtake demand for its chilled water and electricity, strong shareholder support, consistent financial performance reflected by improving debt leverage position and robust profit margin. GDC KLIA operates and maintains the Di...

MARC has reaffirmed Dialog Group Berhad (DIALOG)’s corporate credit rating at ‘AA-‘, reflecting the Group’s strong capitalization and cash flow position; its good competitive position in the highly specialized oil, gas and petrochemical industries; and its commendable operational performance and safety track record. DIALOG is principally an investment holding company and a component stoc...

MARC has received confirmation from SAJ Holdings Sdn Bhd that its RM680 million BaIDS has been fully redeemed. As such, MARC no longer has any rating obligation on the Facility and the AID rating is hereby withdrawn....

MARC has reaffirmed the long-term rating of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd’s (SILK) Al-Bai’ Bithaman Ajil debt securities. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District as a primary urban road linking the populous districts of Balakong, Sungai Long, Semenyih, Bangi, Kajang and Se...

MARC has lifted the negative outlook placed on the ratings of AA ID (Double AA Islamic Debt)/MARC-1ID in respect of PNSB’s RM1.02 billion ABBA serial bonds and RM350 million MuCP/MTN programme and the A rating of PNHB’s RM546.875 million redeemable unconvertible junior notes. The negative outlook was placed in June 2004 pending the resolution of the group’s long outstanding trade receivables...