MARC has affirmed its AA-IS rating on MMC Corporation Berhad's (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. Underpinned by long-term concessions (ports and utilities) and sizeable government …
Click here to sign up for free registration. Copyright © 2015 Malaysian Rating Corporation Berhad, MARC affirms AA-IS rating on MMC's RM2.5 billion Sukuk. MARC ONLINE is a one-stop repository for impartial and objective rating information in the form of published ratings, news and published Credit Analysis Reports. Training Calendar 2020; MARC Training; Trainers’ Profiles; List of Training Clients; Events & CSR. Its consolidated leverage is expected to remain moderately high over the near term as some of its port subsidiaries will remain more focused on undertaking planned capex programmes. Group borrowings stood at RM10.4 billion, translating to a debt-to-equity ratio of 1.04x at end-2019 (net-DE: 0.80x). KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has assigned a preliminary rating of A+IS to Sunsuria Bhd ’s proposed RM500mil Sukuk Wakalah programme. MARC’s Credit Analysis Reports can be purchased in various formats according to your requirements. The rating … MMC also retains financial flexibility as the master developer of Senai Airport City, which comprises a combined 2,718 industrial and mixed-use land within the Flagship E of Iskandar Malaysia.
The affirmed rating remains driven by MMC's significant strength in ports and logistics, engineering, and utilities operations that continue to be steadily strengthened. The group's sizeable engineering orderbook of RM9.3 billion as at end-1H2019 provides earnings visibility through 2022. Of this, the Klang Valley Mass Rapid Transit (KVMRT) Line 2 project accounted for a sizeable RM7.3 billion. Among its borrowings, RM360 million of IMTN maturing in 2020 is expected to be redeemed upon maturity.
Concurrently, the rating agency has affirmed its AA IS rating on SD Plantation's Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion. MARC is a domestic credit rating institution that provides credit ratings and research on issuers of commercial papers, bonds, long-/short-term debts, and preferred shares, as well as asset-backed securities. Underpinned by long-term concessions (ports and utilities) and sizeable government-related infrastructure contracts (engineering), its businesses provide strong earnings visibility. MARC has established a list of methodologies that are used as the basis for our ratings. Corporate Events . Copyright © 2015 Malaysian Rating Corporation Berhad, Third-Party Credit Guarantees Rating Methodology, Automotive Parts & Components Manufacturers, Debt Securities Issued By Malaysian REITs, Equity Credit and Notching Approach for Corporate Subordinated Debt and Hybrid Securities, Basel III - Compliant Capital Instruments, General Insurance Financial Strength Rating, Financial Guarantee Insurers Rating Approach. The affirmed rating remains driven by MMC's significant strength in ports and logistics, engineering, and utilities operations that continue to be steadily strengthened.
Group pre-tax profit rose sharply by 32% y-o-y to RM533 million in 2019, mainly on account of higher contributions from its port subsidiaries. Rating Guide; Rating Products; Rating Fee Guide; Rating Process; Rating Symbols and Definitions; Rating Methodologies; Status of Rating Methodology Review ; Training. MMC's ports generally performed within expectations, handling about 55% or 7.1 million twenty-foot equivalent units of Malaysia's total container throughput in 1H2019. About RM1.6 billion has been earmarked for capex to expand capacities and improve operating efficiencies at its ports in the near term, and will be mainly funded internally. At the holding company level, dividends from its ports and utilities entities have been sufficient to meet the finance servicing obligations on borrowings of RM3.6 billion. Rating; Long term Short term; Oct 2020 Announced: Sparks Energy 1 Sdn Bhd RM 220 million 11 Years ASEAN Green Islamic Medium-Term Notes Programme (ASEAN Green SRI Sukuk Murabahah) List related news | List related issues | List related reports: PRELIMINARY-STA: AA-IS: Oct 2020 Active: Penang Port Sdn Bhd RM 1 billion 20 Years Islamic Medium-Term Notes Issuance Programme List related news | …
View the profiles of people named Marc Rating. Its liquidity is also supported by unencumbered cash balance of RM1.8 billion as at end-2019. Copyright © 2015 Malaysian Rating Corporation Berhad, “Gold” Impact Assessment assigned to Sime Darby Property Berhad's proposed ASEAN Sustainability SRI Sukuk Musharakah, MARC affirms AAAIS rating on GDC Putrajaya's RM300.0 million Islamic Debt Securities, MARC assigns AA+IS rating to Sime Darby Property's RM4.5 billion Sukuk Musharakah programme, MARC revises outlook on Segi Astana's RM415.0 million ASEAN Green MTN facility to negative, MARC affirms ratings on Sime Darby Plantation, MARC assigns preliminary rating of AA-IS to Sparks Energy 1’s proposed ASEAN Green SRI Sukuk of up to RM220 million, Yields on Malaysian Government Securities corrected higher, Local bonds continue to attract foreign demand, MARC wins GIFA Best Islamic Rating Agency Award for the sixth time, MARC finalises updated methodology: Rating Malaysian State Governments, MARC launches inaugural MARC 360: Property Recharge 2020 webinar series, MARC publishes exposure draft of updated Methodology: Rating Malaysian State Governments, Local bond yields reach fresh all-time lows in July amid global chase for yield - July 2020, Lockdowns hit 2Q2020 GDP growth; rebound is expected in 2021, Malaysia Marine and Heavy Engineering Holdings Berhad, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd -, Monthly Bond Market and Rating Snapshot - September 2020 - Summary, Macro Update: The State of Terengganu - Summary, Macro Update: The State of Johor - Summary, Monthly Bond Market and Rating Snapshot - August 2020 - Summary, Monthly Bond Market and Rating Snapshot - July 2020 - Summary, MALAYSIA: Lockdowns hit 2Q2020 GDP growth; rebound is expected in 2021, Macro Update: The State of Sabah - Summary, Monthly Bond Market and Rating Snapshot - June 2020 - Summary. Sale of land parcels would provide additional revenue source. Join Facebook to connect with Marc Rating and others you may know. MARC also offers industry analyses, rating reports, and rating indices for issuers and investors locally and globally. Its key port PTP remains a top 20 port in the world. Rating Malaysian State Governments Asset-Backed Securities. The methodologies are as listed below: Sub-sovereign Ratings. The rating is mainly moderated by MMC's consolidated leverage which has remained high following the consolidation of borrowings related to its recent acquisition of Penang Port. Cash flow from operations increased to RM2.2 billion, providing interest cover of 3.8x. MARC has established a list of methodologies that are used as the basis for our ratings. Overall, the shifts in global shipping alliances had mostly impacted the container traffic volume of its Northport in Port Klang, although the decline has been largely offset by volume improvement in bulk cargo handling and local container shipments. MARC ONLINE; MARC Lead Managers League Tables; MARC Subscription; Ratings.
MARC is a full-service ratings agency that provides ratings on issuers of commercial papers, bonds, long-/short-term debts, and preferred shares, as well as asset-backed securities. MARC has affirmed Sime Darby Plantation Berhad's (SD Plantation) corporate credit rating at AAA with a stable outlook. In 2019, the group refinanced RM1.0 billion borrowings at Penang Port through a sukuk issuance while the upcoming maturity of RM1.5 billion at Pelabuhan Tanjong Pelepas (PTP) is expected to be refinanced in 2020.
Its gas distribution and power generation operations, under associate companies Gas Malaysia Berhad and Malakoff Corporation Berhad, have remained steady with regulatory changes in the domestic utilities sector not expected to have a major impact on their performance and therefore their dividend payment abilities. Asset-Backed Securities-Structured Covered Bonds: Corporate Debt Ratings Non-Financial Corporates-Automotive Parts & Components Manufacturers -Construction Companies -Debt … MARC also offers industry analyses, rating reports, and rating indices for issuers and investors locally and globally. Malaysian Rating Corporation Berhad 5th Floor, Bangunan Malaysian Re No.17 Lorong Dungun, Damansara Heights 50490 Kuala Lumpur, Malaysia Email : email@example.com Phone : +603 2082-2200 Fax (General) : +603 2093-9308 Fax (Ratings Dept) : +603 2094-9397 Economic Information Department : Economic Research Name : Nor Zahidi Alias Email : firstname.lastname@example.org
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