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MARC has placed its B+ID/MARC-4ID ratings on Intelbest Corporation Sdn Bhd’s (ICSB) RM110.0 million Bai Bithaman Ajil Bonds (BaIDS) and RM50.0 million Murabahah Notes Issuance Facility (MUNIF) on MARCWatch Negative. The MARCWatch Negative placement indicates that the rating is under review for possible downgrade. The review was prompted by further deterioration in ICSB’s operating and ...
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MARC has affirmed its ratings of Glomac Berhad’s (Glomac) RM60 million Junior Bai’Bithaman Ajil Islamic Bonds (Junior BaIDS) and RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at A- ID /MARC-2ID respectively. The ratings outlook is stable. The affirmed ratings reflect the Group’s good market position, backed by the strategic location of Gl...
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MARC has reaffirmed the rating of Guthrie Property Development Holding Berhad’s (GPDH) RM750 million Islamic Medium-Term Notes Programme (IMTN) at AA- ID. The outlook on the rating has been revised to positive from stable. The positive outlook reflects the ongoing rationalization within the Group’s corporate structure and a possible change in its ownership structure. It also reflects M...
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MARC has upgraded its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL). The following ratings are affected: (1) WCT’s rating on its RM100 million Islamic Fixed Rate Serial Bonds has been upgraded to AA- ID from A+ ID, and its ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme have been upgraded to AA- ID/MARC-1 ID from A+ ID/...
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MARC has revised its rating outlook on its corporate debt ratings of WCT Engineering Berhad (WCT) and WCT Land Berhad (WCTL) to positive from stable. The following ratings are affected: (1) WCT’s A+ID rating on its RM100 million Islamic Fixed Rate Serial Bonds and its A+ID/MARC-1ID ratings on its RM100 million Islamic Commercial Papers / Medium Term Notes Programme, and (2) WCTL’s A+(c...
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MARC has assigned ratings of MARC-1/AAA to RM125.0 million Senior Class A Notes and MARC-1/AA to RM50.0 million Senior Class B Notes (Senior Notes) of Mutual Streams Sdn Bhd (MSSB). MSSB is a bankruptcy remote special purpose vehicle that will be issuing up to RM650.0 million Commercial Papers/Medium-Term Notes (Notes) to purchase a designated piece of land together with its building, Mines Shoppi...
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MARC does not expect the acquisition by WCT Engineering Berhad (WCT) of the 35.17% stake in WCT Land Berhad (WCTL) which it does not own to have a meaningful effect on the corporate debt ratings of WCT and WCTL. WCT and WCTL have ratings of A+ID/MARC-1ID and A+(cg) respectively.On November 30, WCT announced that it had made a voluntary take over offer to acquire all the remaining shares in WCTL. I...
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MARC has reaffirmed the MARC-1ID(cg)/AA- ID(cg) of Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP) and Medium-Term Notes (MMTN) with a nominal value of up to RM300.0 million. The ratings outlook is stable. The ratings are based on an unconditional and irrevocable corporate guarantee extended by HISB’s ultimate holding company, Gamuda Berhad (Gamuda). The ratings re...
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MARC has withdrawn the MARC-1/AAA, MARC-1/AA, BB and B ratings assigned to Aragorn’s RM60.0 million Senior Class A CP/MTN, RM10.0 million Senior Class B CP/MTN, RM20.0 million Subordinated Class C MTN and RM25.0 million Subordinated Class D MTN with immediate effect following the full redemption of the CP/MTN notes on 3rd October 2007....
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MARC has reaffirmed the ratings of MARC-2/A- to Equine Capital Berhad’s (ECB) Commercial Papers/Medium-Term Notes Programme (CP/MTN Programme) of up to RM95 million with a developing outlook. The rating affirmation reflects MARC’s expectations of improvements in ECB’s operating and financial performance, supported by generally positive broad housing market trends and ECB’s ...
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