Credit Analysis Reports - Category: Construction
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MARC has maintained its rating of CIS on Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 5, 2020. Under the restructuring exercise undertaken by Talam in March 2019, the maturity date of the Settlement BaIDs was extended by 18 months to December 28, 2020 from June 28, 2019.The rating considers Talam's weak...


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MARC has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme at AA- and its RM1.5 billion Sukuk Murabahah (Sukuk) Programme at AA-IS. The rating agency has also affirmed its rating on the RM1.0 billion Perpetual Sukuk Musharakah Programme at AIS. The outlook for all ratings is stable.The affirmed MTN and Sukuk programme ratings consider WCT Holdings’ s...


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MARC has affirmed the ratings of WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme (sukuk) at AA- and AA-IS. Concurrently, MARC has assigned a final rating of A with a stable outlook to WCT Holdings’ proposed Perpetual Sukuk Musharakah Programme (perpetual sukuk) of up to RM1.0 billion. The rating outlook on the perpetual sukuk i...


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MARC has maintained its CIS rating on Talam Transform Berhad’s (Talam) outstanding RM45.6 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 27, 2019. The rating action considered the extension of the maturity date of the Settlement BaIDs by 18 months to December 28, 2020 from June 28, 2019. The distressed restructuring exercise was undertaken as Talam w...


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MARC has affirmed its AAA(fg) rating on TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. As at January 30, 2019, the total outstanding notes under the rated programme stood at RM180.0 million. The rating reflects the credit strength of an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajami...


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MARC has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme at AA- and AA-IS. The ratings outlook has been revised to negative from stable. The outlook revision considered the slower-than-expected progress to reduce WCT Holdings’ elevated leverage position which is unlikely to be addressed meaningful...


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MARC has downgraded Talam Transform Berhad’s (Talam) RM134.2 million Settlement Bithaman Ajil Islamic Debt Securities (BaIDs) rating to CIS from B-IS. The downgrade reflects the increased uncertainty of Talam’s ability to meet its upcoming final BaIDs payment of RM52.1 million on June 28, 2019. Talam has been undertaking asset disposals, particularly land parcel sales in the Klang Valley...


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MARC has affirmed its AAA(fg) rating on TRIplc Ventures Sdn Bhd’s (TVSB) RM240 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. As at October 12, 2017, the total outstanding notes under the rated programme stood at RM200 million. The rating reflects the credit strength of an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) o...


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MARC has affirmed its ratings on WCT Holdings Berhad’s (WCT Holdings) RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme at AA- and AA-IS respectively. Concurrently, MARC has revised the ratings outlook to stable from negative. The current outstanding under the MTN Programme and Sukuk Murabahah Programme are RM1.0 billion and RM950.0 million respectively...


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MARC has affirmed its rating of B-IS with a stable outlook on Talam Transform Berhad’s (Talam) outstanding RM52.1 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs). The affirmed rating continues to reflect Talam’s weak business and financial profile and its reliance on asset disposals to meet financial obligations. During the period under review, Talam’s asset...


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