Rating Announcements

MARC Ratings assigns rating of AA-IS to Mah Sing’s RM2.0 billion Sukuk Murabahah Programme

MARC Ratings has assigned a rating of AA-IS to Mah Sing Group Berhad’s Islamic Medium-Term Notes (IMTN) Programme (Sukuk Murabahah Programme) of up to RM2.0 billion in nominal value with a stable outlook. The Sukuk Murabahah Programme was previously unrated. As at end-August 2026, RM1.15 billion was outstanding under the programme, which remains unrated. The […]

MARC Ratings assigns rating of AA-IS to Mah Sing’s RM2.0 billion Sukuk Murabahah Programme Read More »

MARC Ratings upgrades China Construction Bank (Malaysia)’s long-term rating to AAA

MARC Ratings has upgraded China Construction Bank (Malaysia) Berhad’s (CCBM) long-term financial institution (FI) rating to AAA from AA+ with a stable outlook, and affirmed its short-term FI rating at MARC-1. CCBM’s long-term FI rating of AAA has been equalised with the AAA FI rating of its parent, China Construction Bank Corporation (CCB), based on

MARC Ratings upgrades China Construction Bank (Malaysia)’s long-term rating to AAA Read More »

MARC Ratings upgrades ratings on Sunway Group’s issuances

MARC Ratings has upgraded its ratings on Sunway Group’s issuances as follows: Sunway Treasury Sukuk Sdn Bhd’s RM 3.0 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme to MARC-1IS(cg)/AAIS(cg) from MARC-1IS(cg)/AA-IS(cg) Sunway Berhad’s RM 2.0 billion Commercial Papers/ Medium-Term Notes (CP/MTN) Programme to MARC-1/AA from MARC-1/AA- Sunway Berhad’s RM5.0 billion Perpetual Sukuk Programme to

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MARC Ratings affirms Tropicana’s positive ratings outlook

MARC Ratings has affirmed the ratings of Tropicana Corporation Berhad’s (Tropicana) RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah-2020), RM1.5 billion IMTN (Sukuk Wakalah-2024), and RM2.0 billion Perpetual Sukuk Programmes at AIS, AIS and A-IS, respectively. The ratings outlook on all three programmes has been maintained at positive. The positive outlook reflects the group’s continued

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MARC Ratings revises Gabungan AQRS’ long-term rating outlook to negative

MARC Ratings has revised the outlook on the long-term AIS rating of Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes to negative from stable. The short-term rating remains unchanged at MARC-1IS. The outlook revision reflects growing concerns over GBG’s shrinking construction order book and slower-than-expected sales at The Peak

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MARC Solutions assigns “Gold” Impact Assessment to PKB’s Social Finance Framework

MARC Solutions has assigned a “Gold” Impact Assessment to Permodalan Kelantan Berhad’s (PKB) Social Finance Framework. The framework sets forth the guiding principles for PKB’s undertaking of Social Finance Transactions (SFTs) to fund eligible assets that are expected to advance financial inclusion and socioeconomic development for underserved communities. As a state-owned entity under the Kelantan

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MARC Solutions assigns “Gold” Impact Assessment to Paramount’s Sustainability-Linked Financing Framework

MARC Solutions has assigned a “Gold” Impact Assessment to Paramount Corporation Berhad’s (Paramount) Sustainability-Linked Financing Framework. The framework sets out the guiding principles for Paramount’s issuance of Sustainability-Linked Financing instruments tied to measurable sustainability performance targets. It supersedes Paramount’s previous Sustainability-Linked Financing Framework, which was assessed by MARC Solutions on 11 March 2024. Paramount is

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MARC Ratings affirms Alam Flora’s MARC-1IS/AAIS sukuk ratings

MARC Ratings has affirmed its MARC-1IS/AAIS ratings on Alam Flora Sdn Bhd’s RM700 million Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) Programmes, with a stable outlook. The ratings are underpinned by Alam Flora’s long-term concession with the Government of Malaysia, which provides strong revenue visibility and stable cash flow generation. Additional support stems from

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MARC Ratings affirms ratings on Trusmadi Capital’s Issue 1 MTN and CP

MARC Ratings has affirmed its AAA, AA and A ratings on Trusmadi Capital Sdn Bhd’s RM235 million Class A, RM40 million Class B and RM25 million Class C Issue 1 Medium-Term Notes (MTN). The rating agency has also affirmed its MARC-1 rating on the company’s RM300 million Issue 1 Commercial Papers (CP). The MTN and

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MARC Ratings extends MARCWatch Developing on KFH Malaysia

MARC Ratings has maintained the MARCWatch Developing status on its financial institution ratings on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia). The MARCWatch placement, which has remained since 1 August 2024, followed KFH Malaysia’s announcement of its voluntary withdrawal from the Malaysian market and planned wind-down of operations, in alignment with KFH Group’s strategic focus

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