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MARC has removed its rating of A- on Haisan Resources Berhad (HRB)’s RM12 million outstanding Bonds from MARCWatch Negative and affirmed the rating. Concurrently, it has assigned a negative outlook to the rating. The rating was first placed on MARCWatch Negative on August 20, 2008 following a breach of its debt-to-equity (DE) covenant, its weak first half year 2008 performance, and uncertain...
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MARC has affirmed its AA-IS rating on Vastalux Capital Sdn Bhd’s (VCSB) RM100 million Sukuk Musyarakah. The rating carries a stable outlook. VCSB is a special purpose company wholly-owned and incorporated by Vastalux Sdn Bhd (Vastalux) to facilitate the issuance of the Sukuk Musyarakah. VCSB acts as the wakil under the transaction, investing Sukukholders capital contributions in the venture ...
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MARC has affirmed its AA- and AA-ID(cg) ratings on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and KMCOB Capital Berhad’s (KMCOB Capital) RM630.0 million Murabahah Medium Term Notes (MMTN) facility, respectively. At the same time, MARC has revised the outlook on both ratings to negative from stable. Scomi is primarily involved in the provision of oil and g...
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MARC has affirmed its AA- and AA-ID(cg) ratings on Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme (MTN) and KMCOB Capital Berhad’s (KMCOB Capital) RM630.0 million Murabahah Medium Term Notes (MMTN) facility, respectively. At the same time, MARC has revised the outlook on both ratings to negative from stable. Scomi is primarily involved in the provision of oil and g...
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MARC has affirmed its AAAID/MARC -1ID and MARC-1ID ratings to the RM1.5 billion Murabahah Commercial Paper/Medium Term Notes programme (CP/MTN) and RM150 million Murabahah CP programme respectively of Sime Darby Berhad (Sime Darby) and maintained a stable outlook on the ratings. Both facilities had been novated to Sime Darby following the completion of its merger exercise in November 2007. The aff...
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MARC has withdrawn the AID rating assigned to Sapura Energy Sdn Bhd’s RM140.0 million Al-Bai’Bithaman Ajil Islamic Debt Securities (BaIDS) following the full redemption of the BaIDS as confirmed by the facility agent, CIMB Investment Bank Berhad. Contacts: Hafizan Haron 03-2090 2238/ hafizan@marc.com.my; Nor Azlina Abdullah, 03-2090 2256/ norazlina@marc.com.my. ...
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MARC has upgraded Atlan Holdings Bhd’s (Atlan) RM90.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) ratings to MARC-1ID /A+ID from MARC-2ID /AID. The rating outlook is stable. The ratings upgrade is premised on the overall improvement in the credit profile of the enlarged Atlan group following the acquisition of Naluri Corporation Berhad (Nalur...
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MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) RM425 million Istisna’ Serial Bonds (Bonds). The rating carries a stable outlook. The affirmed rating is supported by the Sarawak State Government’s (State) obligation to pay, in a timely manner, amounts due under a Redeemable Preference Share (RPS) subscription agreement b...
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MARC has affirmed its AAAID and MARC-1ID/AAAID ratings on MISC Berhad’s (MISC) RM2.5 billion Islamic Medium Term Notes Programme (IMTN) and RM1.0 billion Murabahah Commercial Papers/ Medium Term Notes Programme (CP/MTN) respectively. The ratings carry a stable outlook. The affirmation reflects MISC’s dominant market position in the energy transportation segment, particularly for the sh...
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MARC has downgraded its rating of Haisan Resources Berhad (HRB)’s RM30 million Bonds to A- from A. HRB’s rating remains on MARCWatch Negative where it had been placed on August 20, 2008 in light of its continued breach of its debt-to-equity covenant, and its weak first half year 2008 performance which was significantly below expectations. The MARCWatch placement also reflects uncertainty surro...
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