MARC has assigned the ratings of A+ID and MARC-1ID/A+ID to Bayu Padu Sdn Bhd’s (wholly-owned by SapuraCrest Petroleum Berhad) Istisna’ Medium Term Notes (Istisna’ MTNs) and Murabahah Commercial Papers/Medium Term Notes (MCP/MMTN) facilities. The ratings reflect SapuraCrest Petroleum Berhad’s (SapuraCrest) competitive position as one of the largest Malaysian-owned integrated services provid...

MARC has assigned ratings of AA-ID (Double A Minus, Islamic Debt) to DRB-Hicom Berhad’s (DRB or Group) RM680 million Bai’ Bithaman Ajil Islamic Debt Securities and MARC-1ID/AA-ID to its RM200 million Underwritten Murabahah CP/MTN and RM120 million Murabahah CP/MTN facilities respectively. The assigned ratings reflect the Group’s diversified businesses – automotive manufacturing & distribut...

MARC has upgraded the rating of Reliance Pacific Berhad’s (RPB or group) RM100 million Redeemable Secured Bonds (2001/2006) to A- (A minus). The upgrade is underpinned by the improvement in the travel and tourism industry and the group’s improved financial profile. The group returned to profitability after three consecutive years of losses whilst operating cash flow level returned to the black...

MARC has assigned a rating of A (A Flat) to Haisan Resources Berhad (HRB)’s proposed RM30 million bond; reflecting its strong competitive position in the refrigeration and ice industry, the assignment of specific contract proceeds towards redemption of the bonds, and its good operating profit margin and manageable debt leverage position. The rating is, however, moderated by the Group’s vulnera...

MARC has received confirmation from Bumi Armada Navigation Sdn Bhd that its RM80 million Murabahah Notes Issuance / Islamic Medium-Term Notes facility has been fully redeemed and it has arranged for the release/discharge of the security created in respect of the above facility. As such, MARC no longer has any rating obligation on the facility and the MARC-1ID/AA-ID rating is hereby withdrawn....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 reaffirmed Bumi Armada Navigation Sdn Bhd’s (“BAN”) MARC-1 / AA-ID ratings assigned to its RM80 million Murabahah Notes Issuance Facility (MUNIF) / Islamic Medium-Term Notes (IMTN) (2000/2005). The reaffirmation reflects the company’s leading position in the area of providing marine transportation for the offshore oil and gas industry; its long-term contracts with leading oil and ...

MARC has reaffirmed the ratings of Sime Darby’s RM1,500 million Al-Murabahah Commercial Papers/ Medium-Term Notes (CP/MTN) at MARC-1ID/AAAID respectively. The reaffirmation of Sime Darby’s corporate debt ratings reflects the diversity of the Group’s business, its solid capitalization, resilient profitability levels, strong cash flow position, exceptional financial flexibility and their conti...

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

The rating for Sapura Energy Sdn Bhd (SESB) is reaffirmed at AID reflecting the company’s strength in the marine engineering business; synergies arising from the consolidation of the company under SapuraCrest Petroleum Berhad (SapuraCrest); and its stable financial profile. The rating, however, continues to be moderated by the company’s debt leverage position. SESB’s main revenue generator ...