Rating Announcements

MARC Ratings revises Leader Energy’s rating outlook to positive

MARC Ratings has affirmed its AA-IS rating on Leader Energy Sdn Bhd’s outstanding RM215.0 million ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. Concurrently, the rating outlook has been revised to positive from stable. Leader Energy is the investment holding company of two solar power project companies, Leader Solar Energy Sdn Bhd (LSE I)

MARC Ratings revises Leader Energy’s rating outlook to positive Read More »

MARC Ratings upgrades Segi Astana’s MTN rating to AA-

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

MARC Ratings upgrades Segi Astana’s MTN rating to AA- Read More »

MARC Ratings maintains rating on MMC’s upsized sukuk

MARC Ratings has maintained its AA-IS rating on MMC Corporation Berhad’s (MMC) Sukuk Murabahah Programme following an upsize of the programme limit to RM3.5 billion from RM2.5 billion. The rating outlook remains stable. Proceeds from issuances under the upsized programme will be used to fund working capital for its engineering projects, among others. The rating

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MARC Ratings withdraws Top Glove unit’s Perpetual Sukuk rating

MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme. TG Excellence is a special funding vehicle of Top Glove Corporation Berhad. The rating withdrawal follows the full redemption of the outstanding RM1.18 billion under the programme on February 27, 2025, and the cancellation of the same as confirmed

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MARC Ratings assigns final ratings of AA-IS(cg)/AIS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme

MARC Ratings has assigned final ratings of AA-IS(cg)/AIS(cg) to TG Treasury Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme with a stable outlook. TG Treasury is a wholly-owned funding vehicle of Top Glove Corporation Bhd which has provided an irrevocable and unconditional guarantee on the programme. The rating agency has reviewed the final

MARC Ratings assigns final ratings of AA-IS(cg)/AIS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme Read More »

MARC Ratings assigns “Gold” Impact Assessment to Northport’s Sustainability Sukuk Framework

MARC Ratings has assigned a “Gold” Impact Assessment to Northport (Malaysia) Bhd’s (Northport) Sustainability Sukuk Framework. The framework has been established to set the guiding principles for Northport’s issuance of Sustainability Sukuk for eligible projects that contribute towards environmental and social benefits. Northport is a key port operator serving Port Klang, handling conventional cargo and

MARC Ratings assigns “Gold” Impact Assessment to Northport’s Sustainability Sukuk Framework Read More »

MARC Ratings assigns preliminary ratings to Northport’s proposed RM1.0 billion Sukuk Wakalah Programmes

MARC Ratings has assigned preliminary ratings of MARC-1IS/AAIS to Northport (Malaysia) Bhd’s proposed RM1.0 billion Islamic Commercial Papers (ICP) Programme/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah Programmes). The ICP programme has a sublimit of RM500 million. The long-term rating outlook is stable. Proceeds from issuances under the proposed Sukuk Wakalah Programmes will mainly be

MARC Ratings assigns preliminary ratings to Northport’s proposed RM1.0 billion Sukuk Wakalah Programmes Read More »

MARC Ratings affirms ratings on Cagamas MBS’ asset-backed Sukuk Musyarakah and fixed rate serial bonds

MARC Ratings has affirmed its AAA and AAAIS ratings on Cagamas MBS Berhad’s asset-backed fixed rate serial bonds (CMBS 2005-2 and CMBS 2007-2) and Sukuk Musyarakah issuance (CMBS 2007-1-i). The outlook on all ratings is stable. Cagamas MBS was established to undertake the securitisation of government staff housing loans/financings. Repayment of the securitised loans/financings facilitated

MARC Ratings affirms ratings on Cagamas MBS’ asset-backed Sukuk Musyarakah and fixed rate serial bonds Read More »