Rating Announcements

MARC Ratings has assigned preliminary ratings of AAA, AA and A to Trusmadi Capital Sdn Bhd’s RM248 million Class A, RM46 million Class B, and RM46 million Class C Issue 3 Medium-Term Notes (MTN). The outlook on all ratings is stable. Trusmadi Capital is a special-purpose funding vehicle of Maybank Trustees Berhad, acting on behalf […]

MARC Ratings has affirmed MBSB Berhad’s (MBSB) corporate credit ratings at A+/MARC-1, with a stable outlook. The ratings reflect MBSB’s status as a non-operating financial holding company and the close alignment of its credit profile with that of its core wholly-owned subsidiary, MBSB Bank Berhad (A+/Stable). MBSB has no borrowings at the holding-company level, with

MARC Ratings has affirmed its AAIS(cg)/Stable rating on Point Zone (M) Sdn Bhd’s Sukuk Wakalah Programme. The rating reflects the credit strength of the guarantor, KPJ Healthcare Berhad (KPJ), with Point Zone serving solely as the funding vehicle for the sukuk issuance. The rating affirmation is underpinned by KPJ’s strong business profile, anchored by its

MARC Ratings has maintained its rating of AA-IS on MMC Port Holdings Berhad’s (MMC Port) Sukuk Murabahah Programme, which has been upsized to RM2.0 billion from RM1.0 billion. The rating outlook remains stable. Proceeds from immediate issuances under the upsized programme will be used to fund group investments. The rating remains underpinned by MMC Port’s

MARC Ratings takes note of Merchantrade Asia Sdn Bhd’s announcement dated 6 November 2026 on BNM FAST of its intention to fully redeem the outstanding RM80.0 million Commercial Papers (CPs) upon maturity on 23 November 2026. MARC Ratings understands that the required funds have been set aside for the redemption. Upon completion of the redemption,

MARC Ratings has affirmed its AAAIS rating on Pengerang LNG (Two) Sdn Bhd’s (PLNG2) Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion, with a stable outlook. PLNG2 is 65%-owned by PETRONAS Gas Berhad, which is in turn 51%-owned by Petroliam Nasional Berhad (PETRONAS). PLNG2 owns a regasification terminal in Pengerang, Johor, with a

MARC Ratings has downgraded its rating on Zetrix AI Berhad’s Islamic Medium-Term Notes Programme of up to RM2.0 billion to a default rating of DIS. This downgrade follows Zetrix AI’s failure to settle an outstanding RM25.0 million obligation due today, 6 November 2026. The rating had previously been lowered to CIS on 30 October 2026.

MARC Ratings has assigned a final rating of AIS/Stable to Winstar Capital Berhad’s (Winstar) Islamic Medium-Term Notes (IMTN) Programme of up to RM300.0 million. The rating agency has reviewed the final documentation for the IMTN Programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation

MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) RM700.0 million Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BIS from BBIS and placed the rating on MARCWatch Negative. The downgrade reflects YNH’s materially weakened liquidity profile and heightened refinancing and repayment risk, underpinned by weak internal cash flow generation, continued dependence on asset

MARC Ratings has assigned a preliminary rating of AA+IS to Weststar Aviation Sdn Bhd’s (WAVI) proposed Islamic Medium-Term Notes Programme of up to RM6.0 billion. The rating outlook is stable. The rating reflects strong and predictable cash flows from the Government of Malaysia under an 18-year concession administered by Majlis Keselamatan Negara (MKN), which includes