MARC has assigned a long term rating of A to Puncak Niaga Holding Bhd’s (PNHB) RM546.88 million Redeemable Unconvertible Junior Notes (RUN) with detachable warrants. Proceeds from the new debt offering will be used to fund PNHB’s subscription of subsidiary, Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). PNHB’s RUN are rated the same as PNSB’s A notes. The RUN’s rating r...

Malaysian Rating Corporation Berhad (MARC) has affirmed Tenaga Nasional Berhad’s issuer ratings at AA+/MARC-1. MARC has also affirmed TNB’s Al-Bai Bithaman Ajil Notes Issuance Facility rating at AA+ID and Eight-year Fixed Rate Unsecured Bonds rating at AA+. The ratings affirmation is based on TNB’s strategic importance to Malaysia’s economy and national security given its role as principal...

Dialog Group Berhad’s (DGB) reaffirmed corporate credit rating reflects the group’s strong business position in the plant construction aspect of the oil, gas and petrochemical industries; continued strong financial profile defined by its good earnings performance; strong cash flow position and solid capitalization with minimal debt obligations. These positive features are somewhat moderated by...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term Islamic debt rating of AID (A, Islamic Debt Security) to Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) Notional Amount of RM2.01billion Al-Bai’ Bithaman Ajil Islamic Debt Securities Issuance Facility.The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffi...

MARC has assigned long-term ratings of AID (A flat, Islamic debt) and A (A flat) to Sistem Penyuraian Trafik KL Barat Sdn Bhd (SPRINT)’s 20-year RM510 million Al Bai Bithaman Ajil Islamic debt securities facility and its 16-year RM365 million Bank Guaranteed Serial Fixed Rate Bonds. SPRINT’s Revolving Underwritten Facility of up to RM125 million Convertible into a Floating Rate Term Loan has b...

Malaysian Rating Corporation Berhad (MARC) has assigned a rating of AA-ID (Double A minus, Islamic Debt Security) to MTD Prime Sdn Bhd’s (MTD Prime) RM250 million Al-Bai Bithaman Ajil Facility. The rating reflects the completed status of the Highway with no construction risk; the government guaranteed minimum traffic growth and toll rates; good actual traffic performance; and the company’s p...

Gas District Cooling (KLIA) Sdn Bhd’s (GDC KLIA) ratings are supported by the captive market for its products, namely chilled water and electricity; strong supportive shareholders; efficient operation and strengthened financial profile. The ratings are, however, moderated by the late collection of accounts receivable and high, though declining debt leverage. The ratings outlook is stable, refle...

Malaysian Rating Corporation Berhad (MARC) has affirmed PETRONAS Gas Bhd’s (“PGB”) RM900.0 million al-Murabahah Commercial Paper/Medium-Term Notes Programme’s (1999/2004) ratings at MARC-1ID /AAAID, and the RM500.0 million Al-Bai Bithaman Ajil Bonds Issuance Facility (1999/2004) at AAAID. PGB’s Issuer Ratings have also been affirmed at AAA/MARC-1, with a stable outlook.The ratings reflec...

On January 8, 2001, Puncak Niaga Holdings Berhad (“Puncak Niaga” or “The Company”) made an announcement that its wholly owned subsidiary, Puncak Niaga (M) Sdn Bhd (PNSB), had on December 29, 2000 issued a letter to terminate the turnkey construction contract for the Sungai Selangor Phase 2 Stage 2 (SSP2 Stage 2) water treatment plant. The contractor, Seni Kembara-Hazama-Central Energy-OTV...

The rating of MARC-1 has been affirmed, reflecting the better-than-projected financial position, stable and predictable cash flows generated by take-or-pay contracts for terminal usage, the facility’s advanced construction status, financially strong and experienced project sponsors and the highly qualified senior management team.Kertih Terminals Sdn Bhd (KTSB) was incorporated to undertake the c...