Rating Announcements

MARC Ratings has affirmed OCK Group Berhad’s (OCK) Islamic Commercial Papers (ICP) and Sukuk Murabahah Programme ratings at MARC-1IS and AA-IS/Stable, respectively. The assessment incorporates the proposed ICP upsize to RM500.0 million (from RM200.0 million), bringing the combined programme limit to RM1.5 billion. The ratings reflect OCK’s stable operating performance and resilient tower business model, […]

MARC Ratings has affirmed its rating on port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM3.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme at AAIS. The rating outlook is stable. The rating affirmation is driven by PTP’s strong position as a major container transshipment port supported by the expertise of and continued investments by its

MARC Ratings has withdrawn its ratings of MARC-1IS(cg)/AA-IS(cg) on Sunway Treasury Sukuk Sdn Bhd’s RM10.0 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme following the full redemption of the outstanding amount and the programme’s expiry on 19 March 2026, as confirmed by the facility agent. MARC Ratings’ analytical coverage of Sunway Berhad now comprises

MARC Ratings has affirmed its AAAIS rating on Cagamas MBS Berhad’s RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. The rating reflects the strong credit enhancement provided by the securitised assets — government staff house financing serviced through monthly salary or pension deductions — and the accumulated cash flows backing CMBS

MARC Ratings has withdrawn its AA-IS rating on AFA PRIME Berhad’s RM2.5 billion Senior Sukuk Musharakah Programme following the early redemption of the outstanding RM900 million on 31 March 2026 and subsequent cancellation of the programme, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical coverage on AFA PRIME Berhad.

MARC Ratings has assigned final ratings of A+IS/A-IS to WCT Holdings Berhad’s (WCT) RM5.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programmes. The outlook on the ratings is positive. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way

MARC Ratings has affirmed its ratings on TG Treasury Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programmes at AA-IS(cg)/AIS(cg). The outlook on all ratings is stable. The sukuk programmes carry an irrevocable and unconditional guarantee from TG Treasury’s parent company Top Glove Corporation Bhd (Top Glove); therefore, the senior-ranked IMTN rating reflects the

MARC Ratings has revised its outlook on Sunway Group’s sukuk programme ratings to positive from stable. The list of issuances is appended at the end of this press release. The outlook revision is premised on the prospect of significant improvements in group leverage measures from the impending listing of group healthcare entity Sunway Healthcare Holdings

MARC Ratings has assigned a preliminary rating of AAIS to Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) proposed RM1.0 billion Sukuk Wakalah Programme. Concurrently, the rating agency has affirmed Evyap Malaysia’s RM500.0 million Sukuk Wakalah Programme rating at AAIS. The outlook on the ratings is stable. The rating considers Evyap Malaysia’s vertically integrated and sizeable

MARC Ratings has assigned a preliminary rating of AA+IS to TNB Kuala Muda Solar Sdn Bhd’s (TKMS) proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM1.05 billion with a stable outlook. TKMS is a special-purpose vehicle established to develop, own and operate a 500MWac solar photovoltaic plant in Bukit Selambau,