Rating Announcements

MARC Ratings has affirmed its ratings of AAIS /AA on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and irrevocable guarantee …

MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings Read More »

MARC Ratings has affirmed its ratings of MARC-1IS /AIS on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The long-term rating outlook is stable. As of end-September 2024, GBG had an outstanding RM53.0 million IMTN and RM74.0 million ICP under the rated programme. The long-term rating mainly incorporates GBG’s …

MARC Ratings affirms MARC-1_IS/A_IS ratings on Gabungan AQRS’ ICP/IMTN Programme Read More »

MARC Ratings has affirmed its non-bank financial institution rating of AA/Stable on CGS International Securities Malaysia Sdn Bhd (CGS MY) and the MARC-1 rating on CGS MY’s Commercial Papers Programme of up to RM1.0 billion in nominal value. The ratings reflect CGS MY’s growing business profile in the domestic stockbroking industry. CGS MY has been …

MARC Ratings affirms CGS MY’s ratings Read More »

MARC Ratings has lowered its rating on Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme to AIS from A+IS. The rating outlook is negative. The rating action reflects the negative impact on TCMH’s credit profile from declining vehicle sales over the years, resulting in reduced domestic market share to …

MARC Ratings downgrades Tan Chong Motor’s IMTN rating to A_IS Read More »

MARC Ratings has assigned a final rating of AA-IS to Power Root Berhad’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook 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 material way from the draft …

MARC Ratings assigns final rating of AA-_IS to Power Root’s RM500.0 million Sukuk Wakalah Programme Read More »

MARC Ratings has assigned preliminary ratings of AA-IS and MARC-1IS to SIBS Sdn Bhd’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM500.0 million, with a combined aggregate limit of up to RM3.0 billion. The rating outlook is stable. The assigned ratings incorporate …

MARC Ratings assigns preliminary ratings of AA-_IS/MARC-1_ISto SIBS’ proposed RM3.0 billion IMTN/ICP programmes Read More »

MARC Ratings has affirmed its AA+IS rating on EDOTCO Malaysia Sdn Bhd’s RM3.0 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah Programme) with a stable outlook. The rating reflects EDOTCO Malaysia and its subsidiaries’ (EDOTCO Malaysia group) leading market position in the growing domestic telecommunication (telco) tower industry, the underlying stability of its business model that …

MARC Ratings affirms EDOTCO Malaysia’s AA+_IS rating Read More »

MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.24 billion Sukuk Murabahah with a stable outlook. The affirmed rating is underpinned by JEP’s predictable cash flow from its 2×1,000-MW ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with its indirect 70% shareholder, Tenaga Nasional Berhad (TNB). …

MARC Ratings affirms Jimah East Power’s AA-_IS rating Read More »

MARC Ratings has withdrawn its rating of AAAIS(bg)/Stable on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme guaranteed by Bank Pembangunan Malaysia Berhad at the request of the issuer. There is no outstanding under the programme which will expire on December 1, 2025. Following the withdrawal, MARC Ratings will no longer provide …

MARC Ratings withdraws rating on Masteel’s RM130.0 million guaranteed Sukuk Ijarah Programme Read More »