MARC has revised its MARCWatch status of its MARC-2ID/A-ID ratings on Oilcorp Berhad’s (Oilcorp) RM70.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) to MARCWatch Negative from Developing. MARC is concerned that a prolonged dispute would affect Oilcorp’s access to capital and may result in potential exposure to disciplinary actio...

MARC has withdrawn the following ratings assigned to DRB-HICOM Berhad’s Islamic Debt Facilities with immediate effect following the full redemption and cancellation of the facilities as confirmed by the facility agent, MIMB Investment Bank Berhad:- - RM200.0 million Underwritten Murabahah CP/MTN rated A+ID / MARC-1ID;- RM120.0 million Murabahah CP/MTN rated A+ID / MARC-1ID and;-&nb...

MARC has affirmed ratings of A+ID / MARC-2ID to Capable Aspect Sdn Bhd’s (CASB)  RM40 million Islamic Medium-Term Notes Issuance Facility/ Murabahah Underwritten Notes Issuance Facility (‘IMTN/MUNIF) respectively. The ratings carry a stable outlook. The ratings for CASB principally reflect the low risk business profile, strong financial performance and improved credit protection m...

MARC has revised its rating outlook on the MARC-1(cg)/AAA(cg) and MARC-1ID(cg)/AAAID(cg) ratings on Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Commercial Paper and Medium Term Notes (CP/MTN) Programme to Negative from Stable. Tesco Malaysia has issued RM700 million under the CP/MTN Programme as of todate. The ratings on Tesco Malaysia’s is...

Malaysian Rating Corporation Berhad (MARC), in conjunction with its 12th Annual General Meeting, announced an impressive 37% growth in pre-tax profit to RM11.76 million for the financial year ended 31 December 2007 from RM8.61 million in FY2006. The improved performance of MARC was fuelled by the brisk debt capital markets activity as reflected in the higher volume of bonds issuance as well as the...

MARC has placed Oilcorp Berhad’s (Oilcorp) RM70.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes Facility (MUNIF/IMTN) ratings of MARC-2ID/A-ID on MARCWatch Developing following Oilcorp’s announcement dated May 20, 2008 to Bursa Malaysia that its annual audited accounts for the year ended December 31, 2007 will be amended due to a disagreement between ...

MARC has placed its A- ID rating on Malaysian Merchant Marine Berhad’s (MMM) RM120 million Al Bai’ Bithaman Ajil Serial Bonds (BaIDS) on MARCWatch Negative. The MARCWatch placement is the result of its continued weak operating performance and an apparent change to MMM’s plans to fully redeem its BaIDS ahead of its November 2010 maturity. The rating action also reflects significan...

MARC has assigned a rating of AA+ID(bg) to Aras Sejagat Sdn Bhd’s (“ASSB”) Bank Guaranteed Islamic Medium-Term Notes (“BG IMTN”) of up to RM500.0 million. ASSB is a wholly-owned subsidiary of AirAsia Berhad (“AirAsia” or “the company”) and is a special purpose vehicle created to facilitate the issuance of the BG IMTN. The rating of the BG IMTN ...

MARC said today that there is no immediate pressure on the ratings assigned to the Selangor water sector-related issuers following the establishment of a new state government and the recent announcements made by the new administration in respect of the water sector.  This announcement is issued in respect of the following ratings:Syarikat Bekalan Air Selangor Sdn Bhd’s RM3.0 billion Bai...

MARC has affirmed the ratings of MARC-2ID/A- ID on Oilcorp Berhad’s (Oilcorp or the Group) RM70.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes Facility (MUNIF/IMTN). The outlook on the ratings is stable. The affirmed ratings reflect the Group’s average business profile underscored by its continuous dependence on the oil and gas sector which saw its o...