Rating Announcements

MARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga). Concurrently, the long-term rating outlook has been revised to stable from positive. The ratings affirmation reflects Kenanga’s strong market position in the domestic stockbroking industry. The outlook revision reflects the bank’s overall performance which has …

MARC Ratings affirms Kenanga Investment Bank’s ratings with outlook revised to stable Read More »

MARC Ratings has assigned a final rating of AA+IS to Pulau Indah Power Plant Sdn Bhd’s (PIPP) Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) Programme of up to RM3.0 billion. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not …

MARC Ratings assigns final rating of AA+_IS to Pulau Indah Power Plant’s Sukuk Wakalah Read More »

MARC Ratings has withdrawn its rating of AAAIS/Stable on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah following the full redemption of the final RM60.0 million on 14 November 2025, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical coverage of TTM SPV.

MARC Ratings has affirmed its AAAIS rating on Amanat Lebuhraya Rakyat Berhad’s (ALR) RM5.5 billion Sukuk Programme, with a stable outlook. The rating reflects ALR’s strong operating cash flow from its mature and resilient toll road portfolio in the Klang Valley, and its robust debt service capacity. Solid liquidity and a zero-dividend policy under the …

MARC Ratings affirms Amanat Lebuhraya Rakyat’s AAA_IS rating Read More »

MARC Ratings has affirmed its ratings of AAIS /AA on funding vehicle OSK Rated Bond Sdn Bhd’s (OSKRB) Sukuk Murabahah/ Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM3.5 billion. The ratings’ outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and …

MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings Read More »

MARC Ratings has assigned a final rating of AAIS to Tadau Energy Sdn Bhd’s ASEAN Green Sustainable and Responsible Investment Sukuk Wakalah of up to RM215 million with a stable outlook. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any …

MARC Ratings assigns final rating of AA_IS to Tadau Energy’s Sukuk Wakalah Read More »

MARC Ratings has assigned preliminary ratings of MARC-1IS(cg)/AA-IS(cg) to Sunway Treasury Sukuk Sdn Bhd’s proposed RM3.0 billion Islamic Commercial Papers (ICP)/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Mudharabah Programme). The rating outlook is stable. Proceeds from issuances under the proposed programme will mainly be used to fund working capital and refinance existing debt and intercompany …

MARC Ratings assigns preliminary ratings to Sunway Treasury Sukuk’s proposed RM3.0 billion Sukuk Mudharabah Programme Read More »

MARC Ratings has affirmed its rating of AA-IS on Power Root Berhad’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. The affirmation reflects Power Root’s established position in the instant beverage sector, supported by an extensive sales network and stable financial performance, characterised by consistent cash flow and a healthy …

MARC Ratings affirms Power Root’s AA-_IS rating Read More »

MARC Ratings has assigned final ratings of AAAIS to SD Guthrie Berhad’s Senior Islamic Medium-Term Notes (Senior Sukuk Wakalah) and AAIS to the Subordinated Perpetual Islamic Notes (Perpetual Sukuk Wakalah) under a Sukuk Wakalah Programme with a combined limit of RM5.0 billion. The outlook on the ratings is stable. The rating agency has reviewed the …

MARC Ratings assigns final ratings to SD Guthrie’s Sukuk Wakalah Programme of up to RM5.0 billion Read More »

MARC Ratings has revised its outlook on cocoa grinder Guan Chong Berhad’s (GCB) sukuk programme rating to stable from negative. The rating remains at AA-IS. The outlook revision is premised on the prospect of a more accommodative cocoa bean price environment that would ease GCB’s working capital requirements, hence, leverage over the near-to-medium term. Cocoa …

MARC Ratings revises rating outlook on cocoa grinder Guan Chong’s sukuk programme to stable Read More »