MARC has affirmed Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS respectively with a negative outlook. The strong ratings reflect, amongst others, majority state-owned Sacofa’s strategic position as sole developer, owner and manager of telecomm...

MARC has affirmed Sacofa Sdn Bhd’s (SACOFA) and its special purpose subsidiary, Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah at AAAIS respectively with a negative outlook. The strong ratings reflect, amongst others, majority state-owned Sacofa’s strategic position as sole developer, owner and manager of telecomm...

MARC has affirmed the ratings of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A and Series 2005-B at AAAID. The ratings affirmation reflects the superior credit strength of the Government of Malaysia (“GOM”) being the paymaster via its obligation under the Sijil Utama 2005-A and 2005-B which have been legally assigned to Musyarakah O...

MARC has assigned the ratings of MARC-2ID/AID to Symphony House Berhad’s (Symphony) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (CP/MTN) Programme. The ratings reflect, amongst others, Symphony’s cashflow generating capabilities supported by a healthy mix in various business segments; the growth potential of Symphony’s Business Process Outsourcing (BPO) services, v...

MARC has assigned the ratings of MARC-1ID/AAID to Cellular Structures Sdn. Bhd. (CSSB) RM184.0 million Senior MUNIF/IMTN under a RM192.0 million MUNIF/IMTN and IMTN Facility (Facility).  The ratings reflect the exclusive rights given to Konsortium Jaringan Selangor Sdn. Bhd. (KJS) to construct and manage the telecommunication towers and structures in the State of Selangor; the licensing agree...

MARC has assigned a rating of MARC-2 to Persoft Systems Sdn Bhd’s (“PSSB”) proposed issuance of Commercial Papers Programme (“CP Programme”) with a nominal value of up to RM50 million. The rating reflects PSSB as a Tier-1 managed licensing services provider for Microsoft Corporation’s (“Microsoft”) applications in Malaysia and has been a reseller of ...

MARC has assigned the ratings of MARC-1ID/AAID to Tele-Flow Capital Sdn. Bhd.’s (Tele-flow Capital) RM90 million Senior Notes under the MUNIF/IMTN Facility.  The ratings reflect the exclusive rights to construct and manage the telecommunication towers and structures in the State of Kedah; the licensing agreement entered into with creditworthy telecommunication companies/ operators (telc...

MARC has assigned the rating of AAAIS to Sacofa Sdn Bhd’s (SACOFA) and Sarawak Gateway Sdn Bhd’s (Sarawak Gateway) RM160.0 million Sukuk Istisna’ and RM240.0 million Sukuk Ijarah respectively. The strong ratings reflect, amongst others, SACOFA’s exclusive rights to construct, own and manage the telecommunication towers and structures in the State of Sarawak; the licensing agreement entered...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AAAID to Musyarakah One Capital Berhad’s (Musyarakah One) RM103.62 million Sukuk Musyarakah Series 2005-B. This series is the second issuance of a RM2.5 billion Sukuk Musyarakah Programme.Musyarakah One Capital Berhad (“Musyarakah One”), is a bankruptcy remote special-purpose vehicle incorporated for the purpose o...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AAAID to Musyarakah One Capital Berhad’s RM566.56 million Sukuk Musyarakah Series 2005-A.Under this transaction, a bankruptcy remote special purpose vehicle, Musyarakah One Capital Berhad (“Musyarakah One”), has been incorporated for the purpose of acquiring receivables from the Originator, TIME Systems Integrators...