MARC has reaffirmed the short and long-term ratings of Mines Resort Berhad’s (MRB) Bank Guaranteed Commercial Papers and Bank Guaranteed Serial Bonds at MARC-1(bg) and AAA(bg) respectively, reflecting the unconditional and irrevocable guarantee provided by Malayan Banking Berhad (Maybank). On a stand alone basis, MARC maintains a cautious outlook for MRB, reflecting delays in its proposed pr...

MARC has affirmed, with Stable Outlook, the AA- rating to Scomi Group Bhd’s (Scomi) RM500 million Medium-Term Notes (Notes). The rating reflects the group’s competitive position in the oil and gas industry, having one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; its business presence in 35 countries following th...

MARC has affirmed the ratings of A+ID and MARC-1ID/A+ID assigned to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Bhd) RM500 million Istisna’ Serial Bonds (“Istisna Bonds”) and RM100 million Murabahah Commercial Papers/ Medium-Term Notes (“MCP/MMTNs”) facilities, which reflect: positive outlook of the oil and gas (“O&G”) industry, es...

MARC has downgraded the rating of PSSB Ship Management Sdn Bhd’s (PSM) RM40 million BAIS from AA-ID to A+ID with negative outlook. Factors contributing to the downgrade include consistently higher than anticipated vessel operating cost, deteriorating financial position of project sponsor – PSSB Strategic Holdings Sdn Bhd (PSSB), and PSM’s failure to adhere to timely reporting req...

MARC affirmed a rating of A (A Flat) to Haisan Resources Berhad (HRB)’s RM30 million bonds with a stable outlook; reflecting its strong competitive position in the refrigeration and ice industry, assignment of specific contract proceeds towards redemption of the bonds as well as HRB’s good operating profit margin and moderated by its high debt leverage position. Incorporated in 1999, H...

MARC has received confirmation from Reliance Pacific Berhad that its Serial Bonds of RM100.0 million were fully redeemed upon maturity on 25 July 2006. As such, MARC no longer has any rating obligation on the facility and the A- (A minus) rating is hereby withdrawn....

The ratings of Atlan Holdings Bhd’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities have been reaffirmed at MARC-2ID/AID and AID respectively. The reaffirmation of the ratings reflects Atlan’s focus and strength in its respective core busin...

The rating of Reliance Pacific Berhad’s (“RPB” or “the Group”) RM100 million Redeemable Secured Bonds (2001/2006) has been reaffirmed at A- (A minus). Underpinning the rating is the expected sustained growth in the travel and tourism industry and the group’s overall improved financial profile. The rating, however, is moderated by RPB’s reasonably high debt...

MARC has reaffirmed the ratings of Sime Darby Berhad’s (“Sime Darby” or “the Group”) RM1,500 million Al-Murabahah Commercial Papers/ Medium-Term Notes (“MCP/MMTN”) Programme at MARC-1ID/AAAID respectively. The ratings reflect the diversity of the Group’s operations in more than 10 countries; its sound financial profile characterised by respectable ca...

MARC has placed PSSB Ship Management Sdn Bhd’s (“PSM”) RM40 million Bai’ Bithaman Ajil Islamic Securities (“BAIS”) on MARCWatch with a Negative Outlook, with the likelihood of suspension if the relevant information is not provided within two weeks of this announcement. The RM40 million BAIS was assigned an initial rating of AA-ID in November 2004. The action is due to PSM’s failure,...