Rating Announcements

MARC Ratings has maintained its ratings of AAIS/AA on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/ Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes which will be upsized to RM3.5 billion from RM2.0 billion. The ratings outlook is stable. The programmes carry an unconditional and irrevocable guarantee from OSK Holdings Berhad (OSK). The ratings continue to […]

MARC Ratings has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding currently stands at RM270.0 million. The rating affirmation reflects the traffic resilience on Cerah Sama’s mature Cheras-Kajang Highway and the company’s stable cash flow generation. The rating also reflects Cerah Sama’s strong liquidity position

MARC Ratings has withdrawn its rating of AAAIS on MBSB Bank Berhad’s Tranche 2 under the RM2.295 billion Structured Covered Sukuk Murabahah facility. The rating withdrawal follows the full redemption of the outstanding amount of RM55.0 million on December 10, 2024, as confirmed by the facility agent. MARC Ratings’ analytical coverage on the Structured Covered

MARC Ratings has affirmed its ratings of MARC-1IS /AAIS on Cellco Capital Berhad’s (Cellco) RM520 million Issue 1 issued under its Islamic Commercial Papers/ Islamic Medium-Term Notes (Sukuk Ijarah) Programme with a combined limit of up to RM1.0 billion. The rating outlook is stable. Cellco is a special-purpose entity set up to raise funds via

MARC Ratings has affirmed its rating of AAIS(cg) on Sunway Healthcare Treasury Sdn Bhd’s (SH Treasury) Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM5.0 billion. The rating outlook is stable. The rating reflects the credit strength of parent Sunway Healthcare Holdings Sdn Bhd (SHH), based on SHH’s unconditional and irrevocable guarantee on the

MARC Ratings has affirmed its rating on Sime Darby Property Berhad’s (SD Property) RM4.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) at AA+IS with a stable outlook. The outstanding under the rated programme stood at RM1.4 billion as at November 30, 2024. The rating continues to reflect SD Property’s strong sales track record from

MARC Ratings has upgraded its rating on UEM Edgenta Berhad’s Islamic Medium-Term Notes (IMTN) under its RM1.0 billion Sukuk Murabahah Programme to AAIS from AA-IS. Accordingly, the rating outlook has been revised to stable from positive. The outstanding sukuk remains at RM250.0 million. The rating upgrade is premised on UEM Edgenta’s strengthened business profile underpinned

MARC Ratings has affirmed its financial institution rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating reflects MARC Ratings’ assessment of very high governmental support to CGC based on CGC’s policy role in supporting micro, small and medium-sized enterprises (MSMEs) in the country, and Bank Negara Malaysia’s (BNM)

MARC Ratings has affirmed its rating of AA-IS on FGV Holdings Berhad’s (FGV) Sukuk Murabahah Programme of up to RM3.0 billion with a stable outlook. FGV’s sizeable and integrated palm oil operations, improving production metrics on accelerated replanting efforts at its estates, and healthy balance sheet are key drivers of the rating affirmation. Moderating rating

MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UDA Holdings Berhad’s (UDA) Islamic Commercial Papers (ICP) Programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion with a combined aggregate limit of up to RM1.0 billion. The long-term rating outlook is stable. The ratings incorporate MARC Ratings’