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MARC Ratings has affirmed its AAIS rating on Tadau Energy Sdn Bhd’s outstanding RM215.0 million ASEAN Green Sustainable and Responsible Investment Sukuk Wakalah with a stable outlook. Tadau Energy owns and operates two solar photovoltaic plants in Kudat, Sabah. The rating is underpinned by the 21-year power purchase agreements with Sabah Electricity Sdn Bhd (AAA/Stable), […]
MARC Ratings affirms Tadau Energy’s AAIS rating Read More »
MARC Ratings has affirmed its AAAIS/Stable rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme. CNSB is wholly owned by Celcom Berhad, which, in turn, is a wholly-owned subsidiary of CelcomDigi, and provides telecommunications network services across the group. The rating reflects the credit profile of CNSB’s ultimate shareholder, CelcomDigi, given the
MARC Ratings affirms Celcom Networks’ AAAIS rating Read More »
MARC Ratings has affirmed its AAAIS /MARC-1IS ratings on Gas Malaysia Distribution Sdn Bhd’s (GMD) Islamic Medium-Term Notes (IMTN)/ Islamic Commercial Papers (ICP) Programmes with a combined limit of up to RM1.0 billion. The rating outlook is stable. As at end-June 2026, the amounts outstanding under the IMTN/ICP programmes stood at RM530.0 million and RM210.0
MARC Ratings affirms Gas Malaysia’s AAAIS/MARC-1IS ratings Read More »
MARC Ratings has revised the rating outlook on JB Cocoa Sdn Bhd’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme to positive from stable. The rating on the Sukuk Wakalah programme has been affirmed at A+IS. JB Cocoa is a key wholly-owned manufacturing subsidiary of Singapore-based JB Foods Limited. The parent company has provided a
MARC Ratings revises JB Cocoa’s outlook to positive Read More »
MARC Ratings has assigned a preliminary rating of AIS/Stable to Winstar Capital Berhad’s (Winstar) proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM300.0 million. The rating reflects Winstar’s established track record of over two decades in aluminium extrusion, supported by ongoing product diversification, and a broad customer base that supports revenue growth. These strengths
MARC Ratings assigns preliminary rating of AIS to Winstar’s proposed IMTN Programme Read More »
MARC Ratings has affirmed the People’s Republic of China’s (China) sovereign rating at AAA with a stable outlook based on the rating agency’s national rating scale. This is an unsolicited rating based on public information. The AAA rating reflects China’s large, diversified, and internationally competitive economy, strong external position, and advanced policy execution capacity. China
MARC Ratings affirms China’s sovereign rating at AAA Read More »
MARC Ratings has placed its AA-IS rating on Zetrix AI Berhad’s Islamic Medium-Term Notes (IMTN) Programme of up to RM2.0 billion on MARCWatch Developing. The rating is placed on MARCWatch Developing amid concerns over a substantial reduction in shareholding of founder Wong Thean Soon (TS Wong) in Zetrix AI to 12.1% (direct: 6.5%; indirect: 5.6%)
MARC Ratings places Zetrix AI’s rating on MARCWatch Developing Read More »
MARC Ratings has affirmed the state of Selangor’s sub-sovereign credit rating at AAA with a stable outlook. This is an unsolicited rating based on public information. The rating reflects the state’s excellent economic scale within Malaysia, diversified economic structure, low debt burden, healthy financial reserves and favourable socioeconomic profile. Selangor remains Malaysia’s largest state economy,
MARC Ratings affirms sub-sovereign rating of AAA on Selangor Read More »
MARC Ratings has assigned a final rating of AA+IS with a stable outlook to TH Properties Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme. The IMTN Programme, together with a proposed Islamic Commercial Papers Programme, will have a combined aggregate limit of up to RM750 million. The rating agency has reviewed the final documentation for the
MARC Ratings assigns final rating of AA+IS to TH Properties’ IMTN Programme Read More »
MARC Ratings has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) RM800.0 million Sukuk Wakalah Programme. The rating outlook remains stable. The rating affirmation reflects GCB’s established market position as the world’s fourth-largest cocoa grinder, supported by its geographically diversified customer base and longstanding relationships with major multinational confectionery companies. The group serves
MARC Ratings affirms AA-IS rating on Guan Chong’s RM800.0 million sukuk programme Read More »