MARC has reaffirmed the MARC-4ID rating of Pembangunan Brisdale Sdn Bhd’s (PBSB) RM55 million Murabahah Notes Issuance Facility (MUNIF). Concurrently, the rating has been placed on MARCWatch with a Developing Outlook. PBSB is a wholly-owned subsidiary of Brisdale Holdings Bhd, the developer of Bandar Armada Putra located in the West Port vicinity. The rating reflects the weak demand for the prop...

Peremba Jaya Holdings Sdn Bhd’s (PJHSB) RM200 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/ Murabahah Medium-Term Notes (MMTNs) facility’s long-term rating has been downgraded to A-ID from AID whilst the short term rating is affirmed at MARC-2ID. The ratings have also been placed on MARCWatch with a Negative Outlook. The rating actions reflect the group’s thinning margins, ...

MARC has reaffirmed Putrajaya Holdings Sdn Bhd’s (PJH) long term and short term issuer rating of AAA and MARC-1 respectively and its Islamic corporate debt ratings of AAAID/MARC-1ID in respect of its RM765 million Bai’ Bithaman Ajil Bonds Issuance Facilities (BBA) (Parcels A, B & Public Facilities Precinct 10); RM570 million BBA (Parcel C); RM850 million BBA (Parcel D); RM850 million BBA (Wism...

The rating of Europlus Corporation Sdn Bhd’s (ECSB) RM350.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF) has been downgraded from MARC-3ID to MARC-4ID and placed on MARCWatch with negative implications. The downgrade reflects substantial deterioration in ECSB’s internal cash flow generation, making it unlikely, in MARC’s opinion, that ECSB will be able to meet its financial...

MARC has downgraded the rating of Perspektif Perkasa Sdn Bhd’s (PPSB) RM188 million Murabahah Underwritten Notes Issuance Facility (MUNIF) from MARC-3ID to MARC-4ID and concurrently placed the rating on a MARCWatch with a Negative Outlook. PPSB is the developer of Bandar Pinggiran Cyber, an 800-acre township to be located at the fringe of Cyberjaya.The rating downgrade and Negative Outlook follo...

MARC has downgraded Maxisegar Sdn Bhd (MSB)’s RM250.0 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) from the rating of AID (A flat, Islamic Debt) to BBID (BB flat, Islamic Debt). Concurrently, we have also placed the rating on a MARCWatch with a Negative Outlook. The severe downgrade of the BaIDS to non-investment grade securities was based upon the rapid deterioration of MSB’s ...

MARC has reaffirmed the ratings of Petronas Assets Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:IssueBai Al-Dayn Notes Issuance Facility (NIF) with a nominal value of up to RM282 millionRatingAAAID IssueMurabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a nominal value of RM500 millionRatingMARC-1ID/AAAID The reaffirmation of the ratings reflects the credit st...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:Issue 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs)RatingMARC-1ID/AAAIDIssue8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)RatingAAAIDIssue13...

MARC has assigned an Islamic debt long term rating of AAAID to Putrajaya Holdings Sdn Bhd’s (“PJH”) proposed RM2.2 billion Islamic Medium-Term Notes (“IMTN”) Programme. The rating reflects PJH’s solid capitalization underlined by the strong set of shareholders, exceptionally strong financial flexibility and the strategic importance of PJH in the development of Putrajaya as the nation�...

MARC has reaffirmed Sunrise’s short term rating of Murabahah Notes Issuance facility (MUNIF), Islamic Medium Term Notes and Bai’Bithaman Ajil Notes Issuance facility at MARC-1ID and A+ID respectively, reflecting Sunrise’s good financial track record with operating margins averaging 25% in the last four years, low debt leverage position and good financial flexibility. The rating is also under...