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MARC has affirmed its AA-ID and AID ratings on Alpha Circle Sdn Bhd’s (Alpha Circle) RM345.0 million Senior Musharakah Medium Term Notes (MMTN) programme and RM35.0 million Junior MMTNs respectively. The ratings carry a stable outlook. The ratings affirmation incorporates the strong performance of Alpha Circle due to the higher-than-projected issuance of foreign work permits for which fixed ...
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MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility at MARC-1(cg) /AAA(cg) and MARC-1ID(cg) /AAAID(cg) respectively. The outlook for the ratings is revised to negative from stable. The ratings reflect the credit strength of the ...
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MARC has affirmed the rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. The rating outlook is maintained at negative. The affirmed rating considers DRB-HICOM’s asset disposals which give the holding company moderate visibility as to its funding sources for debt servicing requirements over the next two years. MARC’s assessm...
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MARC has affirmed its rating of AA+IS(bg) on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) programme with a stable outlook. The affirmed rating solely reflects MARC’s affirmation on the financial institution rating of the guarantor, Kuwait Finance House (Malaysia) Berhad (KFHMB), full details of which are provided in the rating announce...
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MARC has placed its A+IS(cg) issue rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme on MARCWatch Negative. The rating actions affect RM302.55 million of outstanding notes issued by KMCOB. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), which in turn is a wholly-owned subsidiary of Scomi Group Bhd (Scomi). MARC rates the notes bas...
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MARC has withdrawn its MARC-1ID/AA-ID ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM100 million Murabahah Commercial Paper/Medium Term Notes (Murabahah CP/MTN) programme with immediate effect following the full redemption of the outstanding RM90 million Murabahah CPs and the expiration of the seven-year facility programme on November 28, 2012. MARC’s analytical coverage on Bayu Padu is ...
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MARC has affirmed its AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM120 million Istisna’ Serial Bonds with a stable outlook. The affirmed rating is underpinned by MARC’s AAA/stable public information rating on Sarawak state, which through the State Financial Secretary (SFS), a body corporate established under the State Financi...
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MARC has assigned final ratings of AAA(bg) and AAA(fg) to Premier Merchandise Sdn Bhd’s (PMSB) issuance of up to RM300 million 7-year Medium-term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively. The outlook on the ratings is stable. The programmes are guaranteed irrevocably and unconditionally by Malayan Banking Berhad for Tranche 1 and Danaj...
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MARC has assigned preliminary ratings to Premier Merchandise Sdn Bhd’s (PMSB) issuance of up to RM300 million 7-year Medium-Term Notes (MTN) (Tranche 1) of AAA(bg) and RM300 million 10-year MTN (Tranche 2) of AAA(fg). The outlook for both ratings is stable. The assigned ratings reflect the credit strength of the unconditional and irrevocable guarantees provided by Malayan Banking Berhad (May...
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MARC has withdrawn its ratings of MARC-1/A+ on Radicare (M) Sdn Bhd’s RM100 million CP/MTN Programme. The rating withdrawal follows the early redemption of the outstanding notes on August 30, 2012 and cancellation of the facility on November 28, 2012 as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad.Contact: Nisha Fernandez. +603-2082 2269/ nisha@marc.com.my...
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