MARC has assigned a preliminary rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB) proposed guaranteed serial bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. The assigned rating and outlook reflect an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the Guaranteed Serial Bonds. MARC currently rates Danajami...

MARC has affirmed its AA-IS on Weststar Capital Sdn Bhd's (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Established for the purpose of facilitating the issuance of the sukuk, Weststar Capital is a wholly-owned subsidiary of offshore helicopter operator Weststar Aviation Services Sdn Bhd (Weststar). ‎Securing the sukuk are the rights to receive 40% of revenu...

MARC today lowered its long-term Islamic debt ratings on UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme to AA+ID from AAAID. The rating agency also affirmed its short-term rating on the programme at MARC-1ID. MARC subsequently withdrew all ratings on UMW at its request. The outlook was stable at the time of the withdrawal. MA...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The rating of MARC-1ID on the RM150 million Underwritten Murabahah Commercial Papers Facility has...

MARC has withdrawn its MARC-1ID/AAAID rating on UMW Holdings Berhad’s (UMW) RM500 million Islamic Medium Term Notes (IMTN) programme, which is one of the two Islamic debt programmes of the investment holding company that are rated by MARC. The withdrawal follows the full redemption of the outstanding RM500 million notes under the IMTN programme on May 9, 2013 from part proceeds of a new issu...

MARC has withdrawn its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) programme. The withdrawal follows the full redemption of the Sukuk Ijarah programme on May 3, 2013, as confirmed by the facility agent. MARC will no longer provide analytical coverage on the issuer upon withdrawal of the aforementioned rating.Contacts: Se...

MARC has affirmed the rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of E...

MARC has withdrawn its B+ rating on Olympia Industries Berhad’s outstanding RM5,500.0 Redeemable Unsecured Loan Stock (RULS) following the full settlement of the RULS on April 11, 2013 as confirmed by the issuer. MARC will cease all analytical coverage on the issuer following the withdrawal of the rating. Contacts: Jasmine Kua, +603-2082 2280/ jasmine@marc.com.my; Rajan Paramesran, +603-2082...

MARC has affirmed the ratings of AAAID and MARC-1ID /AAAID on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (CP/MTN) programmes respectively, and concurrently revised the outlook on the ratings to stable from negative. The rating action affects RM1.3 billion of outstanding notes under the rated programmes. The ou...

MARC has removed its rating on KMCOB Capital Bhd’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme from MARCWatch Negative and affirmed  its A+IS(cg) rating on the company. The outlook on the rating is negative. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), the oilfield services unit of Scomi Group Bhd (Scomi). MARC had earlier placed KMCOB&rsqu...