MARC has reaffirmed the long term rating of Sapura Energy Sdn Bhd’s (“SESB” or “the Group”) RM140 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating carries a stable outlook. The reaffirmed rating reflects SESB’s moderate business profile as an oil and gas service provider with sustained operating track record evidenced by its...

MARC has assigned a corporate credit rating (CCR) of AAA to UMW Holdings Berhad (UMW or the Group). The CCR of AAA indicates UMW’s very strong intrinsic ability and overall capacity for timely repayment of its financial obligations. UMW is one of the country’s leading industrial group that has significant market share in the domestic automotive sector through 51% owned UMW Toyota Motor...

MARC has revised its rating outlook on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Debt Securities to positive from developing in connection with DRB-HICOM’s proposed divestment of its 20.2% stake in EON Capital (EONCap) to Primus Pacific Partners Ltd (Primus). This rating action affects the following rated facilities:- -    RM200.0 million Underwritten Murabahah CP/MTN rate...

MARC has upgraded MIB’s short term rating on its RM25.0 million Murabahah Commercial Paper/Medium Term Notes (“CP/MTN”) to MARC-1ID from MARC-2ID while reaffirming its long-term rating on the facility at AID. The upgrade in the short term rating reflects MIB’s improved liquidity position, aided by the proceeds from the disposal of its assets. Its cash reserves balances as a...

MARC has downgraded PSSB Ship Management Sdn Bhd’s (“PSM”) RM40.0 million Bai Bithaman Ajil Islamic Securities (“BAIS”) rating from AID to BBB- ID and removed PSM’s rating from MARCWatch Negative where it had been placed in November 2007. The rating carries a negative outlook. The rating downgrade reflects MARC’s view that there has been significant deteri...

MARC has reaffirmed the rating of AA- IS on Vastalux Capital Sdn Bhd’s (VCSB) RM100.0 million Sukuk Musyarakah. The rating outlook is stable. The rating reflects the credit strength of payment stream arising from the performance of contracts secured from PETRONAS Carigali Sdn Bhd (PCSB). The contracts have tenures and cash flows that match VCSB’s obligations under the Sukuk Musyarakah....

MARC has revised its outlook to positive on Atlan Holdings Bhd’s (Atlan) MARC-2ID/AID ratings of its RM90.0 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/ IMTN). The outlook revision follows the announcement of Atlan’s forthcoming acquisition of the entire business undertakings of Naluri Corporation Berhad (Naluri) including all its assets and ...

MARC has reaffirmed Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) Istisna’ Serial Bonds (Bonds) rating at AAA(s)ID. The rating outlook is stable. The suffix(s) indicates that the rating on the Istisna Serial Bonds is supported by the Sarawak State Government’s obligation to pay, in a timely manner, amounts due under a Redeemable Preference Share (RPS) subscri...

Under this Ijarah transaction, DRIR Management Sdn. Bhd. (DRIRM), will issue RM180.0 million Class A and RM160.0 million Class B Sukuk Ijarah Medium-Term Notes (MTN) under a Sukuk Ijarah MTN Programme of up to RM850.0 million, the proceeds of which will be used to acquire 12 helicopters from its related company, MHS Aviation Berhad (MHSA) and refinance borrowings previously taken to acquire four h...

MARC has withdrawn the A+ ID rating assigned to MHS Aviation Berhad’s RM140 million Al-Bai Bithaman Ajil Junior Notes with immediate effect following the full redemption of the notes on December 27, 2007 as confirmed by the facility agent, United Overseas Bank (Malaysia) Berhad....