MARC has downgraded the rating of Reliance Pacific Berhad (RPB) RM100 million Redeemable Secured Bonds from A- to BBB+.The downgrade reflects the current weak and uncertain operating environment of the travel and hotel industry following the SARS outbreak and threat of terrorism and the weakened financial performance of RPB. The group’s consolidated Income Statements recorded losses for the past...

MARC has reaffirmed the rating of MARC-1ID/AAAID assigned to Malaysia International Shipping Corporation Berhad’s (MISC) RM1.5 billion Murabahah Commercial Paper/Medium-Term Notes Programme (2000/2005). The affirmation of the ratings reflect MISC’s solid operating fundamentals, in particular the Liquefied Natural Gas (LNG) shipping segment, that provides the company with a stable and recurrent...

MARC has assigned a rating of AAAbg (bank guaranteed) to Mines Golf Resort Berhad’s (MGRB) proposed Bank Guaranteed Serial Bonds (BG Bonds) with nominal value up to RM130 million and a MARC-1bg (bank guaranteed) rating to its proposed Bank Guaranteed Commercial Papers (BG CP) with nominal value up to RM47 million. The rating reflects the unconditional and irrevocable bank guarantee provided by M...

MARC has placed the A- rating for Reliance Pacific Berhad (RPB) RM100 million Redeemable Secured Bonds on MARCWatch, with a negative outlook. The MARCWatch, with a negative outlook reflects the heightened threat of Severe Acute Respiratory Syndrome (SARS) on the travel and hotel industry, the principal activity of RPB. The travel warnings issued by the World Health Organisation (WHO) to discourage...

MARC has reaffirmed Utusan Melayu (Malaysia) Berhad’s (Utusan/the Group) RM105 million Revolving Underwritten Facility (RUF) at MARC-3. The rating affirmation reflects Utusan’s leading position in the Malay language newspaper and magazine segments. The rating is, however, moderated by Utusan’s adverse financial performance in FY2001, which is highly sensitive to changes in newsprint prices, ...

Malaysian Rating Corporation Berhad (MARC) has assigned Islamic corporate debt ratings of MARC-1ID/AAAID (Islamic Debt) to Sime Darby Berhad’s (Sime Darby) proposed RM1,500 million Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN). The corporate debt ratings of Sime Darby reflect the diversity of the Group’s business, its solid capitalization, strong cash flow position and exceptio...

MARC has reaffirmed its rating of A- (A minus) on Reliance Pacific Berhad’s (RPB) RM100 million Redeemable Secured Bonds. The rating reflects the group’s leading position in the travel industry supported by a wide distribution network, competitive cost structure and a fairly tight issue structure. The rating, however, is moderated by the vulnerability of the travel/tourism businesses to ad...

MARC has assigned a long term rating of A-ID (Single A minus, Islamic Debt) in respect of Sapura Energy Sdn Bhd’s (SESB) proposed RM140 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the SESB group’s strong market position in subsea and marine engineering activities; provision of maintenance services for light and heavy industrial turbines; provision of the ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AA ID (Double A flat Islamic Debt) and A+ ID (Single A plus Islamic Debt) in respect of MHS Aviation Berhad’s (MHSA) (formerly known as MHS Aviation Sdn Bhd) proposed RM60 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM140 million Nominal Value Junior Notes Issue (JNs) respectively. The rating of ...

MARC is pleased to announce that AmMerchant Bank Berhad as well as Aseambankers Malaysia Berhad / RHB Sakura Merchant Bankers Berhad emerged in the top position for MARC’s Lead Managers Table for First Half 2002, in terms of value, having each lead-managed RM0.5 billion worth of private debt securities (PDS) rated by MARC, followed by Abrar Discounts Berhad in the 2nd position with RM0.21 billi...