Rating Announcements

MARC Ratings has maintained the MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), where it has remained since 1 August 2024 following the announcement of its voluntary withdrawal from the Malaysian market and planned wind-down of operations, in alignment with KFH Group’s strategic focus on the Middle East. Progress on the divestment

MARC Ratings has affirmed its AAAIS(bg) rating on Ranhill Sabah Energy II Sdn Bhd’s (RSEII) outstanding RM200.0 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating reflects the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad (BPMB), rated AAA/Stable by MARC Ratings. RSEII owns and operates the 190MW combined-cycle gas

MARC Ratings has affirmed its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) at AA-. The rating outlook is stable. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at the Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. The rating affirmation reflects Segi Astana’s

MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings at AAA/MARC-1 with a stable outlook. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk programmes as follows: RM10.0 billion Senior Sukuk Wakalah Programme (Sukuk Wakalah) at AAAIS/Stable RM5.0 billion Tier 2 Junior Sukuk Programme at AA+IS/Stable CIMB

MARC Ratings has affirmed its AA+/MARC-1 corporate credit ratings on CIMB Group Holdings Berhad (CIMB Group) and the AA rating on the group’s RM10.0 billion Basel III–compliant Tier 2 Subordinated Debt Programme. The outlook on all ratings is stable. CIMB Group is a non-operating financial holding company overseeing one of Malaysia’s largest banking groups, with

MARC Ratings has affirmed its financial institution ratings on CIMB Bank Berhad at AAA/MARC-1. The rating agency has concurrently affirmed its AA+ rating on the bank’s existing RM10.0 billion Basel III–compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. CIMB Bank’s ratings reflect its systemic importance to the domestic banking system, underpinned by

MARC Ratings has affirmed its MARC-1IS/AIS ratings on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme with a stable outlook. The ratings affirmation reflects GBG’s established construction track record, that supports its ability to secure infrastructure contracts alongside its property development activities. This is moderated by limited near-term earnings

MARC Ratings has assigned preliminary AA-(cg)/MARC-1(cg) ratings with a stable outlook to Moneymax Treasure Sdn Bhd’s (MTSB) proposed RM200.0 million Tranche 1 (including RM50.0 million CP sub-limit) under a proposed RM500.0 million CP/MTN Programme. The facility is jointly and severally, irrevocably and unconditionally guaranteed by Cash Online Sdn Bhd (COSB) and its Singapore-listed parent, MoneyMax

MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s outstanding RM77.0 million Green Sustainable and Responsible Investment Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor. The plant achieved its commercial operations date on 2 December 2020. The