Rating Announcements

MARC Ratings has affirmed its ratings of AA/MARC-1 on Pac Lease Berhad’s Medium-Term Notes/ Commercial Papers (MTN/CP) Programmes with a combined limit of RM1.5 billion. The long-term rating outlook is stable. As of October 31, 2024, the outstanding issuances stood at RM535 million MTNs and RM280 million CPs. Pac Lease’s strong market position and lengthy […]

MARC Ratings has assigned a preliminary rating of AA-IS to Orkim Sdn Bhd’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion with a stable outlook. Orkim’s leading position in the domestic transportation of clean petroleum products (CPP) and ownership of the largest fleet in the domestic CPP tanker segment (end-June 2024: 15

MARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah Programme of up to RM10.0 billion with a stable outlook. TPGSB’s rating is equalised with that of its parent, Tenaga Nasional Berhad (TNB, AAA/Stable), due to its status as the key energy generation arm of TNB, and the significant

MARC Ratings has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s outstanding RM165.0 million Sukuk Wakalah with a stable outlook. The rating reflects the credit strength of Tanjung Bin O&M’s parent, Malakoff Power Berhad (MPower)(AA-IS/Stable), which has provided an unconditional and irrevocable undertaking to top up any shortfall in the finance service reserve account

MARC Ratings has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) outstanding RM1.77 billion Sukuk Murabahah, and MARC-1IS/AA-IS ratings on MPower’s RM1.2 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes, under which the current outstanding is RM5.0 million. The ratings outlook is stable. MPower is wholly owned by Malakoff Corporation Berhad (Malakoff), and

MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UEM Sunrise Berhad’s Islamic Commercial Papers (ICP)/ Islamic Medium-Term Notes (IMTN) Programme (ICP/IMTN-3) with a combined nominal value of RM4.0 billion. Concurrently, the rating agency has also affirmed its rating of AA-IS on UEM Sunrise’s two RM2.0 billion IMTN Programmes (IMTN-1 and IMTN-2). The ratings outlook

MARC Ratings has assigned ratings to MBSB Bank Berhad’s Structured Covered Sukuk Murabahah as follows: Tranche 2 and Tranche 3 at AAAIS Tranche 4 at AA+IS All the tranches carry a stable outlook. The AAAIS ratings on Tranche 2 and Tranche 3 are premised on their fully cash-collateralised positions. As at end-June 2024, Tranche 2

MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and its A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. Concurrently, the rating agency has assigned ratings on MBSB Bank’s existing Sukuk Wakalah Programme of up to RM10.0 billion as follows: Senior Sukuk Wakalah at A+IS Tier-2

MARC Ratings has assigned long-term/short-term corporate credit ratings of A+/MARC-1 to MBSB Berhad, with a stable outlook. MBSB’s long-term rating is aligned with the rating of its core wholly-owned banking subsidiary, MBSB Bank (A+/Stable), premised on the fact that MBSB is a non-operating financial holding company with no borrowings and whose performance is closely linked

MARC Ratings has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a wholly-owned funding vehicle of Trans Thai-Malaysia (Thailand) Limited (TTMT) for the construction of two gas pipelines to transport natural gas from the Malaysia-Thailand Joint Development Area in the Gulf of