MARC has reaffirmed the rating of A-(A minus) on Bintang Bulk Mover Sdn Bhd’s (BBM) RM50 million 5-year secured serial bond. This is premised on the Group’s strong operating performance and stable revenue stream, in particular its long term cement transportation contracts with Lafarge Malayan Cement Bhd (LMCB), the largest local cement manufacturer. The affirmation also reflects the Group’s ...

MARC places the following companies on MARCWatch with developing outlook premised upon their current weak cash flow positions and their reliance on the disposal of 25% equity interest in Kumpulan Europlus Berhad (KEB) shares to IJM Corporation, with which the related Share Purchase Agreement has been extended to 30 November 2005.Companies on MARCWatch with developing outlook:Perspektif Perkasa Sdn...

The short and long term ratings of MARC-1ID and AAAID (Islamic Debt) assigned to MISC Berhad’s (“MISC”) Murabahah Commercial Paper/Medium-Term Notes (“MCP/MTN”) are underpinned by the Group’s solid operating fundamentals; its dominant position in the Malaysian shipping industry particularly the liquefied natural gas (“LNG”) segment; extensive global reach with the acquisition of Am...

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). MRB is principally a property development company, currently developing a project named “South of the Min...

MARC has affirmed the rating of Tesco Stores (Malaysia) Sdn Bhd’s (“TSM”) RM750 million guaranteed commercial paper programme at MARC-1(cg). The short term corporate debt rating of TSM reflects the credit strength of its ultimate holding company, Tesco PLC (“Tesco”), which irrevocably and unconditionally guaranteed the commercial paper programme. TSM presently operates eight hypermarkets...

MARC has received confirmation from Mayban Trustees Bhd as the trustee for Malaysia International Shipping Corporation Berhad’s RM1.5 billion CP/MTN Programme that the said facility has been fully redeemed. As such, MARC no longer has any rating obligation on the CP/MTN Programme and the MARC-1ID / AAAID ratings are hereby withdrawn....

The ratings of Atlan Holdings Berhad’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 had been affirmed at MARC-2ID and AID (A flat, islamic debt). The ratings affirmation reflects Atlan’s diversified business and good competitive position, which is ...

MARC has assigned AA- rating to Scomi Group Bhd’s (Scomi) proposed issuance of RM500 million Medium-Term Notes (Notes). The rating reflects the group’s good competitive position as it has one of the most comprehensive range of products and services for the provision of integrated fluids solutions in the world; an international presence in 34 countries following the acquisition of KMC...

MARC has reaffirmed the rating of MARC-1 on Radicare (M) Sdn Bhd’s (Radicare) RM49 Million Commercial Paper Programme; a reflection of the secured cash receivables from the Ministry of Health (MOH) backed by invoices issued to the MOH; a 1.25 times security cover of invoices issued; stringent requirements of the issue structure; sheer dominance of Radicare’s services in the central and eastern...

MARC has received confirmation from the Facility Agent that Series II of Reliance’s Redeemable Secured Bonds (2001/2006) amounting to RM35.0 million had been redeemed on 25 July 2005. After the aforementioned redemption, the current outstanding Facility stands at RM50.0 million....