Bumi Armada Navigation Sdn Bhd (BAN)’s ratings have been upgraded to MARC-1ID / AA-ID (double A minus Islamic Debt) from MARC-1ID / AID in respect of the company’s RM80 million Murabahah Notes Issuance Facility / Islamic Medium-Term Notes. The ratings reflect the company’s competitive position in the area of providing marine transportation, tanker operations and support services for the ...

Malaysian Rating Corporation Berhad (MARC) today announced that it has posted a 51% increase in pre-tax profit to RM3,047,140 for the financial year ended 31 December 2001, on the back of a 31% increase in turnover to RM6,815,425. The Chairman, Encik Mohammad Abdullah attributed the strong performance to increased activity in the bond market, which in turn was driven by improving economic fundame...

Malaysian Rating Corporation Berhad (MARC) has downgraded the corporate debt rating of HVD Holdings Sdn Bhd’s (HVD) RM70.0 million Revolving Underwritten Facility (RUF) to ‘D’ from MARC-4. The downgrade follows HVD’s failure to meet a scheduled principal payment of RM35.0 million, due 11 February 2002, under the RUF.The total outstanding principal under the RUF stands at RM60.0 million, w...

MARC is pleased to announce that for the period January to December 2001, MARC had completed a total of 34 corporate debt issue ratings, valued at RM13.58 billion. Of the 34 corporate debt issues rated, 24 were Islamic private debt securities with a total value of RM10.68 billion, constituting 78.6% of the rated value. Aseambankers Malaysia Berhad topped MARC’s Lead Managers Table for 2001, in...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed MISC’s RM1.5 billion Murabahah Commercial Paper/Medium Term Notes Programme (2000/2005) ratings of MARC-1ID/AAAID (Islamic Debt). The affirmed ratings on MISC reflect MARC’s belief that the solid operating fundamentals of MISC’s Liquefied Natural Gas (LNG) shipping segment will provide the company with a strong ability to withstand ...

MARC has affirmed Utusan Melayu (Malaysia) Berhad’s corporate debt rating at MARC-3, reflecting the latter’s leading position in the Malay language newspaper and magazine segments. The rating is, however, moderated by the deterioration in its financial performance, which is highly sensitive to changes in circulation figures, advertising revenue and newsprint prices. Utusan Malaysia is the l...

Reliance Pacific Berhad’s (RPB) rating of A- (single A minus) in respect of its RM100 million Redeemable Secured Bonds 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 business to adverse developments...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the MARC-1 (bg) short term rating in respect of MHS Aviation Sdn Bhd’s (MHSA) RM70 million Guaranteed Revolving Underwritten Facility (GRUF). The reaffirmation of the rating reflects the unconditional and irrevocable guarantee provided by Malayan Banking Berhad that considerably enhances the credit rating of the GRUF beyond that of MHSAâ...

Malaysian Rating Corporation Berhad (MARC) hereby announces that the first tranche of DRB-HICOM Berhad’s (DRB-H) Fixed Rate Notes Issuance Facility of RM280 million was redeemed on 15 January 2001 from the proceeds of sale of DRB-H’s interest in Credit Corporation (Malaysia) Bhd to Hong Leong Bank Berhad, pursuant to the terms of the Facility. The first tranche of RM280 million was one of ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term debt rating of MARC-2 to DRB-HICOM Berhad’s (DRB-H) RM380 million Fixed Rate Notes Issuance Facility. The assigned rating reflects the strength of the issue structure that has earmarked the proceeds of RM470 million from the sale of DRB-HICOM’s (DRB-H) interest in Credit Corporation (Malaysia) Bhd to Hong Leong Bank Berhad,...