Rating Announcements

MARC Ratings has affirmed its rating on Sime Darby Property Berhad’s (SD Property) RM4.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) at AA+IS with a stable outlook. The outstanding under the rated programme stood at RM2.2 billion as at 2 December 2025. The rating continues to reflect SD Property’s strong sales track record from …

MARC Ratings affirms AA+_IS rating on Sime Darby Property’s Sukuk Musharakah Programme Read More »

MARC Ratings has assigned final ratings of MARC-1IS(cg) /AA-IS(cg) to Sunway Treasury Sukuk Sdn Bhd’s Sukuk Mudharabah Programme of up to RM3.0 billion. The outlook on the long-term rating is stable. 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 ratings to Sunway Treasury Sukuk’s ICP/IMTN (Sukuk Mudharabah) Programme of up to RM3.0 billion Read More »

MARC Ratings has affirmed its AA/MARC-1 ratings on Pac Lease Berhad’s Medium-Term Notes/ Commercial Papers (MTN/CP) Programmes, which have a combined limit of RM1.5 billion. The long-term rating outlook is stable. The ratings affirmation reflects Pac Lease’s position as a major player in the domestic industrial hire purchase (IHP) segment, with a strong track record …

MARC Ratings affirms Pac Lease’s ratings with stable outlook Read More »

MARC Ratings has affirmed its rating of AAIS(cg) on Sunway Healthcare Treasury Sdn Bhd’s Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM5.0 billion. The rating outlook is stable. The rating reflects the credit strength of parent Sunway Healthcare Holdings Berhad (SHH), based on the unconditional and irrevocable guarantee from SHH on the programme. …

MARC Ratings affirms Sunway Healthcare Treasury’s rating Read More »

MARC Ratings has assigned final ratings of AAIS/A+IS to S P Setia Berhad’s Sukuk Wakalah Programme of up to RM3.5 billion, comprising Senior Sukuk Wakalah (Islamic Medium-Term Notes) and Perpetual Sukuk Wakalah, with a sub-limit of RM1.5 billion for the Perpetual Sukuk Wakalah. The outlook on the ratings is stable. The rating agency has reviewed …

MARC Ratings assigns final ratings to S P Setia’s Sukuk Wakalah of up to RM3.5 billion Read More »

MARC Ratings has affirmed its financial institution rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating reflects MARC Ratings’ assessment of very high government support for CGC, underpinned by its longstanding policy mandate to support micro, small and medium enterprises (MSME) financing, Bank Negara Malaysia’s (BNM) majority ownership …

MARC Ratings affirms AAA rating on Credit Guarantee Corporation Malaysia Read More »

MARC Ratings has affirmed its MARC-1IS/AA-IS ratings on UDA Holdings Berhad’s (UDA) Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes. The affirmation takes into account the proposed increase in ICP to RM300.0 million from RM100.0 million and in IMTN to RM2.0 billion from RM1.0 billion, resulting in a combined limit of up to RM2.0 billion …

MARC Ratings affirms ratings of MARC-1_IS/AA-_IS on UDA’s ICP/IMTN Programmes Read More »

MARC Ratings has affirmed its ratings on Malakoff Power Berhad’s (MPower) outstanding RM1.44 billion Sukuk Murabahah at AA-IS and its RM1.2 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes (RM250.0 million IMTN currently outstanding) at MARC-1IS/AA-IS, with a stable outlook. MPower, a wholly-owned subsidiary of Malakoff Corporation Berhad (Malakoff), provides operations and maintenance services …

MARC Ratings affirms MARC-1_IS/AA-_IS ratings on Malakoff Power’s sukuk Read More »

MARC Ratings has affirmed its AIS rating on Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating outlook remains negative. TCMH’s business performance remained weak, as vehicle sales decreased and domestic market share declined to about 0.8% as of end-September 2025 (2024: 1%; 2020–2023 average: 2.3%), mainly due …

MARC Ratings affirms Tan Chong Motor’s sukuk rating at A_IS, maintains negative outlook Read More »

MARC Ratings has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s (TBOM) outstanding RM165.0 million Sukuk Wakalah with a stable outlook. The rating reflects the credit strength of TBOM’s parent, Malakoff Power Berhad (MPower, AA-IS/Stable) which has provided an unconditional and irrevocable undertaking to cover any finance service reserve account (FSRA) shortfall for the …

MARC Ratings affirms AA-_IS rating on Tanjung Bin O&M’s sukuk Read More »