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MARC has affirmed its AAAID/MARC-1ID and MARC-1ID ratings on conglomerate Sime Darby Berhad’s (Sime) RM4.5 billion Islamic Medium Term Note Programme (IMTN Programme) and RM500 million Islamic Commercial Papers with a combined limit of RM4.5 billion, and RM150 million Underwritten Murabahah Commercial Papers (MCP) Facility respectively. The outlook on the ratings is revised to negative from ...
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MARC is currently conducting a review of its MARC-1ID /AAAID /Stable debt ratings on Sime Darby Berhad (Sime).Sime announced its second consecutive quarterly after-tax loss yesterday. The group posted a fourth quarter after-tax loss of RM53.3 million for the three months ended June 30, 2010 compared to a loss of RM277.5 million for the immediate preceding quarter. Its full year profit for th...
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MARC said today that its MARC-1ID /AAAID /Stable ratings on Sime Darby Berhad’s (Sime) Islamic debt issuances were unaffected in the near term following the company’s announcement that it expects its second half year results for the financial year ending June 30, 2010 (FY2010) to be impacted by RM964 million in losses as a result of four loss-making projects under its Energy and Utilit...
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MARC has withdrawn the MARC-1ID/AAAID ratings assigned to Sime Darby Berhad’s (Sime Darby) RM1,500 million Al-Murabahah CP/MTN Programme with immediate effect following the full redemption and cancellation of the programme as confirmed by the facility agent, CIMB Investment Bank Berhad.With the redemption of the Al-Murabahah CP/MTN Programme, MARC’s rating coverage on Sime Darby is now...
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MARC has assigned the ratings of AAAID and MARC-1ID/AAAID to Sime Darby Berhad’s (Sime Darby) new Islamic debt programmes comprising RM4.5 billion Islamic Medium Term Notes (IMTN) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) respectively with a combined limit of RM4.5 billion. The outlook on the ratings is stable.Additionally, MARC has affirmed its MARC -1...
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MARC has assigned preliminary ratings of AAAID and MARC-1ID/AAAID to Sime Darby Berhad’s (Sime Darby) proposed Islamic debt programmes comprising RM4.5 billion Islamic Medium Term Notes (IMTN) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) respectively with a combined limit of RM4.5 billion. The ratings carry a stable outlook.The rating actions incorporate t...
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MARC has withdrawn the AA-ID rating assigned to Sime Darby Property Berhad’s (formerly known as Guthrie Property Development Holding Berhad) RM750 million Islamic Medium-Term Notes Programme (IMTN) with immediate effect following the full redemption on June 16, 2009 as confirmed by the facility agent, CIMB Investment Bank Berhad and subsequent cancellation of the facility. Contacts: Elea Nor...
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MARC has affirmed its AAAID/MARC -1ID and MARC-1ID ratings to the RM1.5 billion Murabahah Commercial Paper/Medium Term Notes programme (CP/MTN) and RM150 million Murabahah CP programme respectively of Sime Darby Berhad (Sime Darby) and maintained a stable outlook on the ratings. Both facilities had been novated to Sime Darby following the completion of its merger exercise in November 2007. The aff...
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