Rating Announcements

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 […]

MARC Ratings maintains rating on MMC’s upsized sukuk Read More »

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MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme.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

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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 »

MARC Ratings assigns final rating of AA-IS to Orkim’s RM1.0 billion sukuk programme

MARC Ratings has assigned a final rating of AA-IS to Orkim Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion with a stable outlook. 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

MARC Ratings assigns final rating of AA-IS to Orkim’s RM1.0 billion sukuk programme Read More »

MARC Ratings assigns preliminary ratings to Trusmadi Capital’s proposed Issue 2

MARC Ratings has assigned preliminary ratings of AAA (Class A MTN of up to RM220 million), AA (Class B MTN of up to RM40 million) and A (Class C MTN of up to RM40 million) to Trusmadi Capital Sdn Bhd’s Issue 2 (Trusmadi Issue 2) under its Medium-Term Notes (MTN) Programme of RM3.0 billion. The

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MARC Ratings assigns “Gold” Impact Assessment to Sentral REIT’s Sustainable Finance Framework

MARC Ratings has assigned a “Gold” Impact Assessment to Sentral REIT’s (SENTRAL) Sustainable Finance Framework. The framework was established to outline how the real estate investment trust (REIT) plans to undertake sustainable finance transactions to deliver environmental and social benefits. SENTRAL’s investment objective is to acquire and invest in commercial properties to achieve long-term growth

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