MARC has assigned a short-term rating of MARC-1IS and a long-term rating of AA-IS to TSH Sukuk Ijarah Sdn Bhd’s (TSH Sukuk) issue of up to RM100 million Sukuk Ijarah Commercial Papers (ICP) and up to RM300 million Sukuk Ijarah Medium Term Notes (IMTN) programmes. Concurrently, MARC has affirmed its ratings of MARC-1ID / AA-ID on the RM100 million Murabahah Commercial Papers / Medium Term Not...

MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms) 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 are premised on the quality of the collateral; the structural protections incorporated in the transaction; and the performance of the secu...

MARC has affirmed the rating of Dutaland Berhad’s (formerly known as Mycom Berhad) (Dutaland) RM60,315,280 nominal value Redeemable Unsecured Loan Stocks (RULS) at BB-. The rating outlook is stable. The affirmed rating reflects Dutaland’s improved credit profile following the completion of its debt restructuring exercise, which includes its enhanced operating performance, attributed to...

MARC has withdrawn its MARC-1(bg)  rating on YPJ Oil Palm Estate Sdn Bhd’s RM180 million Guaranteed Commercial Papers (CP) Programme with immediate effect, following the full redemption of the outstanding Notes on January 17, 2008 and subsequent cancellation of the CP Programme, as confirmed by the facility agent, Affin Bank Berhad.February 13, 2008...

MARC has upgraded TSH Resources Berhad’s (TSH or the Group) RM60 million Murabahah Medium Term Notes (MMTN) rating to AA- ID from A+ID, and reaffirmed its RM40 million Al-Murabahah Commercial Papers (MCP) rating at Marc-1ID. The ratings carry a stable outlook.  The long-term rating upgrade reflects a strengthening of TSH’s financial profile due to the continuation of favourable pa...

MARC has reaffirmed its MARC-2 / A ratings of TH Group Berhad’s (THG) RM200 Million Commercial Papers/ Medium-Term Notes (CP/MTN). The ratings carry a developing outlook. THG is mainly involved in the cultivation and management of palm oil estates, contracting services (construction and coal mining), technology, healthcare sector and venture capital. The ratings reflect THG’s plantatio...

MARC has withdrawn its MARC-1ID rating on Kumpulan Guthrie Berhad’s up to RM150 million Underwritten Murabahah Commercial Papers Facility (MCP). This action follows the recent novation of Kumpulan Guthrie Berhad’s MCP to Sime Darby Berhad (formerly known as Synergy Drive Berhad), and in respect of which MARC has assigned MARC-1ID rating with stable outlook....

Under this transaction, Tradewinds Plantation Capital Sdn Bhd (TPCSB), a special purpose company and a wholly-owned subsidiary of Tradewinds Plantation Berhad (TPB) has been incorporated for the sole purpose of owning and leasing plantation assets for the benefit of the Sukuk holders under the RM210.0 million Sukuk Ijarah; as well as issuing RM90.0 million Murabahah Commercial Papers (CPs); and RM...

MARC has reaffirmed 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 Islamic debt securities (Notes) at AAAID and AAID respectively. The affirmed ratings reflect the satisfactory performance of underlying plantation assets with the net operating income (NOI) of RM17.1 million for the period under review, well a...

MARC has affirmed ratings of Kwantas SPV Sdn. Bhd.’s (Kwantas SPV) RM80.0 million Class A, RM15.0 million Class B and RM60.0 million Class C asset-backed Sukuk Ijarah at AAAID, AAID and A+ID respectively; and has also affirmed the ratings of the RM65.0 million Murabahah CP/MTN at MARC-1ID/A+ID. Out of the RM60.0 million Class C Sukuk Ijarah, RM35.0 million of the Class C Sukuk Ijarah and the...