Rating Agency Malaysia (RAM) has reaffirmed Hong Leong Industries (HLI)’s RM250 million (US$73.53 million) Bai Bithaman Ajil Islamic debt securities (BaIDS) at A1 with a stable long-term outlook. HLI’s ratings are backed by the solid business fundamentals of its main subsidiaries, via its strong cashflow-generating abilities. This has in turn provided a stable stream of dividend income to HLI. The company’s balance sheet is also robust, at a consolidated lease-adjusted gearing ratio eased to 0.9 times as at June 2006.....