Rating Announcements

MARC Ratings has affirmed its AA-IS rating on Konsortium KAJV Sdn Bhd’s (KAJV) RM1.0 billion Sukuk Wakalah Programme with a stable outlook. The rating reflects Terengganu’s sub-sovereign AA-/Stable rating and the state government’s creditworthiness in meeting its payment obligations on the Facility Payment Certificates (FPC) issued for work completed by KAJV on the Kuala Terengganu …

MARC Ratings affirms Konsortium KAJV’s AA-_IS rating Read More »

MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s outstanding RM82.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor. The rating reflects the strength of the 21-year power purchase agreement …

MARC Ratings affirms UiTM Solar Power Dua’s AA-_IS rating 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. The ratings affirmation incorporates GBG’s established construction track record that would enable the group to secure new infrastructure contracts, and the company’s improving liquidity …

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

MARC Ratings has affirmed its rating of AA-IS(cg) on Eco World Capital Berhad’s RM3.0 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. Concurrently, MARC Ratings has assigned a preliminary rating of AIS(cg) to Eco World Perpetual Capital Berhad’s proposed RM2.0 billion Perpetual Sukuk Wakalah (Perpetual Sukuk) Programme. All ratings carry a stable outlook. Eco World Capital …

MARC Ratings affirms rating of AA-_IS(cg) on Eco World’s RM3.0 billion Sukuk Wakalah Programme and assigns rating of A_IS(cg) to its unit’s proposed RM2.0 billion Perpetual Programme Read More »

MARC Ratings has withdrawn its AAAIS rating on Putrajaya Holdings Sdn Bhd’s (PJH) RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme. The rating withdrawal follows the full redemption of the outstanding RM230.0 million on 11 April 2025 and subsequent cancellation of the programme, as confirmed by the facility agent. MARC Ratings will continue to provide …

MARC Ratings withdraws rating on Putrajaya Holdings’ RM1.5 billion Sukuk Musharakah MTN Programme Read More »

MARC Ratings has withdrawn its AA- rating on Central Impression Sdn Bhd’s (CISB) RM120.0 million Fixed Rate Serial Bonds. The rating withdrawal follows the early redemption of the outstanding RM15.0 million on 3 April 2025 and subsequent cancellation of the programme, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical …

MARC Ratings withdraws rating on Central Impression’s Fixed Rate Serial Bonds Read More »

MARC Ratings has withdrawn its rating of AAAIS on MBSB Bank Berhad’s Tranche 3 under the RM2.295 billion Structured Covered Sukuk Murabahah facility. The rating withdrawal follows the full redemption of the outstanding RM90.0 million on 29 May 2025, as confirmed by the facility agent. MARC Ratings’ analytical coverage on the Structured Covered Sukuk Murabahah …

MARC Ratings withdraws rating on MBSB Bank’s Tranche 3 Structured Covered Sukuk Murabahah Read More »

MARC Ratings has affirmed its AAAIS(bg) rating on Ranhill Sabah Energy II Sdn Bhd’s (RSEII) outstanding RM250.0 million Islamic Medium-Term Notes 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 turbine …

MARC Ratings affirms Ranhill Sabah Energy II’s rating with stable outlook Read More »

MARC Ratings has extended its MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), where the bank has been placed under this surveillance since August 1, 2024. The action resulted from KFH Malaysia’s decision to voluntarily withdraw from the Malaysian market and wind down its banking business in the country, which is in …

MARC Ratings extends MARCWatch Developing on KFH Malaysia Read More »

MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s (WCT) debt and sukuk programmes, and revised the ratings outlook to positive from stable. The positive outlook has factored in the potential improvement in the group’s balance sheet from the utilisation of part proceeds from WCT’s disposal of three mall assets into Paradigm Real Estate …

MARC Ratings revises WCT Holdings’ outlook to positive Read More »