MARC has affirmed the rating of AID (A flat, Islamic Debt) assigned to Maxisegar Sdn Bhd (MSB)’s RM250.0 million Al Bai Bithaman Ajil Islamic Debt Securities on the back of its strong competitive position and good location of its property development; tempered by any adverse development in the property markets. MSB, a wholly owned subsidiary of Talam Corporation Berhad (TCB), one of the largest ...

MARC has been duly informed by WCT Land Berhad (WCTL) and the trustees of WCTL’s CRDS-A (rated A-flat by MARC) of the postponement of interest payment payable to the CRDS holders from 2 February 2005 to 7 February 2005 due to procedural delays. At the time of this announcement, the interest and late interest charges payable to the CRDS holders have been remitted into the relevant designated acco...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs):MARC-1ID/AAAID7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTN...

MARC has affirmed Glomac Berhad’s (“Glomac”) rating of RM50.0 million Senior Bai’ Bithaman Ajil Islamic Bonds at A+ID; RM60.0 million Junior Bai’ Bithaman Ajil Islamic Bonds (Junior BaIDS) at AID and RM25.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The ratings reflect the company’s established position as a reputable property deve...

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

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 Bai’ Bithaman Ajil Bonds Issuance Facilities for Parcels A, B, C, D, Public Facilities Precinct 10, Wisma Putra & Deputy Prime Minister’s Residence (DPMR) and Ministry of Finance Complex and it...

MARC has received notification from the Facility Agent - Abrar Discounts Berhad that PBSB had obtained the approval of the bondholder on 26 August 2004 to extend the MUNIF tenure by nineteen months from 30 August 2004 to 31 March 2006, plus some variation to the security and sinking fund structure of the MUNIF (the Extension Exercise). This Exercise is pending submission to the Securities Commissi...

MARC has assigned a rating of A (A flat) to WCT Land Berhad’s (WCTL) Convertible Redeemable Debt Securities (CRDS) of a nominal value of RM132 miliion. The CRDS will be utilised to part refinance existing advances from its major shareholder, WCT. As part of a corporate exercise involving the acquisition of Bescorp Industries Berhad (BIB) (Special Administrators appointed) by WCTL, WCT will in tu...

MARC has received confirmation from the facility agent, Abrar Discounts Berhad, that Ambang Sentosa Sdn. Bhd.’s (ASSB) RM388.0 million Class A Al-Bai Bithaman Ajil Islamic Debt / Asset Backed Securities (BaIDS/ABS) has been redeemed and cancelled on 28 July 2004. As such, MARC no longer has any rating obligation on the Class A BaIDS and the AA- ID rating is hereby withdrawn. We are currently u...

MARC has lifted the negative outlook placed on Europlus Corporation Sdn Bhd’s (ECSB) RM350 million Murabahah Underwritten Notes Issuance Facility (MUNIF) following the normalization of ECSB’s construction work in the last four months. With the stabilization of raw material supplies and the continued efforts by ECSB to complete construction work on a timely basis, the cash flow emanating from t...