MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms or the Issuer) RM100.0 million Series A; RM90.0 million Series B and RM10.0 million Series C Sukuk Ijarah at AAAIS, AAIS and AIS  respectively. The ratings affirmation of Series A and B Sukuk Ijarah reflects the quality of the collateral and the adequate performance of the securitized estates under the sale and leaseback ...

MARC has reaffirmed IJM Plantations Berhad’s (IJMP) RM150 Million Al-Bai Bithaman Ajil Islamic Debt Securities (ABBA) rating at A+ID with stable outlook. The reaffirmation reflects consistent operating performance, well managed plantations and favourable capital structure. These strengths are moderated by IJMP’s exposure to cyclical palm oil prices.IJMP is principally involved in the c...

MARC reaffirms the short term rating of Kumpulan Guthrie Berhad’s (“Guthrie” or “the Group”) RM150 million Underwritten Murabahah Commercial Papers at MARC-1ID based on the Group’s key position as a major plantation player and successful property developer with vast land banks in Malaysia and Indonesia, its strong financial flexibility and continued improvement ...

MARC has affirmed YPJ Oil Palm Estate Sdn Bhd’s (YPJ) RM180 million Guaranteed Commercial Papers (CP) rating at MARC-1 (bg) with stable outlook. The affirmation reflects the strength of the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Investment Bank Berhad, Affin Bank Berhad and CIMB Bank Berhad.YPJ is principally involved in th...

The rating of BB- accorded to Mycom Berhad’s (“Mycom”) RM60,315,280 nominal value of Redeemable Unsecured Loan Stocks (“RULS”) reflects the risks associated with the implementation of the Group’s restructuring scheme. The rating category reflects significant uncertainties that could affect the ability of the issuer to adequately service debt obligations. The rat...

On 8 February 2007, MARC received confirmation from AmInvestment Bank Berhad that TH Group Berhad has fully redeemed its RM150 million BAIDS on 31 January 2007. As such, MARC no longer has any rating obligation on the BAIDS and the AID rating is hereby withdrawn....

MARC has affirmed the long term ratings of ABS Plantation Assets Berhad’s (ABSP) RM50.0 million Class A and RM45.0 million Class B Bai Bithaman Ajil debt securities (Notes) at AAAID and AAID respectively. The ratings reflect the economics of underlying plantation assets; and the structural features of the sale and leaseback transaction which include low loan-to-value (LTV) ratios at maturity...

On 7 December 2006, MARC received confirmation from Amanah Raya Berhad that Boustead Plantations Berhad (Boustead Plantations) has made a full redemption of its RM50 million Guaranteed Commercial Papers and Medium-Term Notes (CPs/MTNs) on 29 November 2006. As such, MARC no longer has any rating obligation on the CPs/MTNs. The ratings of Tranche 1 (RM50 million Guaranteed CPs/MTNs) at MARC-1(bg) / ...

On 23 November 2006, MARC received confirmation from Malaysian Trustees Berhad that Tian Siang Holdings Sdn Bhd (Tian Siang) has made a full early redemption of its RM93 million nominal value coupon bearing serial bonds (Serial Bonds) on 22 November 2006. As such, MARC no longer has any rating obligation on the Serial Bonds and the A (A Flat) rating is hereby withdrawn. ...

MARC has reaffirmed the ratings of TSH Resources Bhd’s (TSH) RM100 million in nominal value Al-Murabahah Commercial Papers/Medium-Term Notes (CPs/MTNs) at MARC-1 ID / A+ ID with a stable outlook. The reaffirmation mainly reflects the continuous improvement in TSH’s financial performance on the back of robust operating records with regard to its diversified business portfolios covering ...