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MARC has withdrawn its AA-ID rating/stable outlook on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium-Term Notes (IMTN) Programme at the issuer’s request. This follows the approval and consent via a resolution from the noteholders for the withdrawal of the rating on May 7, 2014, following the purchase of the outstanding IMTN by parent company Bright Focus Berhad on Janu...
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MARC has removed its AA-ID rating on Maju Expressway Sdn Bhd's (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme from MARCWatch Negative and affirmed the rating with a stable outlook. MESB holds the concession for the 26-kilometre Maju Expressway (MEX) which links the Kuala Lumpur City Centre with Putrajaya and Cyberjaya. MARC had put MESB on negative watch on September 5, 2013, la...
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MARC has placed its AA-ID rating on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme on MARCWatch Negative. MESB holds the concession for the 26-kilometre Maju Expressway (MEX) which links the Kuala Lumpur City Centre with Putrajaya and Cyberjaya. This action is precipitated by 1) concerns over expected increases in financial leverage both at the pa...
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MARC has affirmed its AA-ID rating on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme. The rating outlook is stable. MESB is the owner and concession holder of the Maju Expressway (MEX), a 26-kilometre open toll urban highway which connects Kuala Lumpur city centre with Putrajaya and Cyberjaya. The rating is supported by strong traffic growth since...
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MARC has affirmed its AA-ID rating on highway concessionaire Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Issuance Programme under the Shariah principle of Musyarakah. The rating outlook is stable. Factors that continue to support the rating are improved toll revenue arising from satisfactory traffic growth and a favourable amortisation profile with no de...
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MARC has withdrawn its A+ID and MARC-2ID /A+ID ratings on toll road concessionaire Maju Expressway Sdn Bhd’s (MESB) RM380.0 million Al Bai’ Bithaman Ajil Primary Serial Medium Term Notes (BBA MTN) and up to RM80.0 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) respectively following the early redemption of outstanding BBA MTN and MCP/MTN on June 15, 2010, as conf...
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MARC has assigned AA-ID rating on toll road concessionaire Maju Expressway Sdn Bhd’s (MESB) proposed RM550.0 million Islamic Medium Term Notes (IMTN) issuance programme under the Shariah principle of Musyarakah. The rating outlook is stable. The assigned rating incorporates the strong debt servicing coverage under the IMTN programme attributable to the favourable repayment structure, and sat...
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MARC has affirmed the A+ID and MARC-2ID /A+ID ratings on toll road concessionaire Maju Expressway Sdn Bhd’s (MESB) RM380.0 million Al Bai’ Bithaman Ajil Primary Serial Medium Term Notes (BBA MTN) and up to RM80.0 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) respectively (Islamic Securities). The ratings outlook is stable. The affirmed ratings acknowledge that w...
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MARC has affirmed the A+ID and MARC-2ID/A+ID ratings on toll road concessionaire, Maju Expressway Sdn Bhd’s (MESB or formerly known as Konsortium Lapangan Terjaya Sdn Bhd) RM380 million Al Bai’ Bithaman Ajil Primary Serial Medium Term Notes (BBA MTN) and up to RM80 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) respectively (Islamic Securities). The ratings refle...
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MARC has reaffirmed the ratings of A+ID and MARC-2ID/A+ID on Konsortium Lapangan Terjaya Sdn Bhd’s (“KLT”) RM380.0 million Bai Bithaman Ajil Medium Term Notes (“BBA MTN”) and up to RM80.0 million Murabahah Commercial Papers/Medium Term Notes Programme respectively (“MCP/MTN”) (collectively known as “Finance Facilities”). The ratings carry a sta...
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