Following a sustained increase in global and regional inflation as well as a spike in June’s consumer price index (CPI) in Malaysia due to a significant removal in fuel subsidy that triggered a 41% and 63% hike in petrol and diesel prices respectively, MARC foresees higher average inflation rate of 5.8% in 2008, up from its previous estimate of a 5%.  Sharp increases in the sub-indices ...

Malaysian Rating Corporation Berhad (MARC), in conjunction with its 12th Annual General Meeting, announced an impressive 37% growth in pre-tax profit to RM11.76 million for the financial year ended 31 December 2007 from RM8.61 million in FY2006. The improved performance of MARC was fuelled by the brisk debt capital markets activity as reflected in the higher volume of bonds issuance as well as the...

MARC said today that there is no immediate pressure on the ratings assigned to the Selangor water sector-related issuers following the establishment of a new state government and the recent announcements made by the new administration in respect of the water sector.  This announcement is issued in respect of the following ratings:Syarikat Bekalan Air Selangor Sdn Bhd’s RM3.0 billion Bai...

MARC said today that its ratings in relation to the following Issuances are not affected by Jebel Ali Free Zone International’s (JAFZI) withdrawal from the operation and management of the Port Klang Free Zone (PKFZ):Special Port Vehicle Bhd - RM1,310.0 million nominal amount asset-backed serial bonds; Transhipment Megahub Bhd - RM1,095.0 million bonds and up to RM360.0 million of Commercial ...

On 5 January 2007, MARC received confirmation from BIMB Trust Limited that First Global Sukuk Inc (FGSI) has made a full redemption of its USD100 Million Series B of Serial Islamic Lease Sukuk Issuance on 22 December 2006, and there is no amount outstanding under the issuance. As such, MARC no longer has any rating obligation on FGSI’s up to USD368 million Serial Islamic Lease Sukuk Issuance...

MARC has placed its ratings on the following issues on MARCWatch Developing with immediate effect: Pembinaan Mitrajaya Sdn Bhd (Pembinaan Mitrajaya)’s RM50 million Murabahah Multi-Option Notes Issuance Facility (MONI) (2004/2011)MARC-2ID Evermaster Group Berhad’s RM40 million Murabahah Multi-Option Notes Issuance Facility (MONIF)MARC-2ID Intelbest’s RM50 million Murabahah No...

Factors underscoring the negative outlook attached to the domestic automotive industry include, inter alia, continued dismal vehicles sales especially passenger vehicles on the back of increasingly stringent approval requirements for hire purchase loans and relatively higher interest rates for used vehicles financing, aggravated by depressed used car prices and generally negative consumer sentimen...

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...

MARC is pleased to announce that for the period January to December 2003, MARC had completed 23 corporate debt issue ratings, with a total issue value of RM9.58 billion. Of the 23 corporate debt issues rated, 16 were Islamic private debt securities with a total issue value of RM6.85 billion, constituting 71.5% of the rated issue value.Commerce International Merchant Bankers Berhad (CIMB) topped M...

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...