Rating Announcements

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 RM800.0 million as of November 30, 2022. SD Property’s continued strong sales track record in its well-established townships, and …

MARC Ratings affirms AA+_IS rating on Sime Darby Property’s Sukuk Musharakah programme Read More »

MARC Ratings has assigned preliminary ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes (MTN) and Commercial Papers (CP) programme with a combined aggregate limit of RM1.5 billion. The ratings outlook is stable. The assigned ratings factor in the lengthy track record and market position of Pac Lease in the domestic industrial hire purchase sector, …

MARC Ratings assigns preliminary ratings of AA/MARC-1 to Pac Lease’s RM1.5 billion programme Read More »

MARC Ratings has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. As at end-October 2022, the outstanding amount stood at RM1.15 billion. In assessing CNSB, MARC Ratings has considered the overall credit profile of the Celcom Axiata Berhad (Celcom) group, premised on the strong …

MARC Ratings affirms AA+_IS rating on Celcom Networks’ Sukuk Murabahah Programme Read More »

MARC Ratings has assigned preliminary ratings of MARC-1IS /AA-IS to UDA Holdings Berhad’s (UDA) proposed 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 with a stable outlook. The assigned ratings incorporate UDA’s …

MARC Ratings assigns preliminary ratings of MARC-1_IS/AA-_IS to UDA’s proposed ICP/IMTN programmes of up to RM1.0 billion Read More »

MARC Ratings has affirmed its rating of AA- on STM Lottery Sdn Bhd’s (formerly known as Sports Toto Malaysia Sdn Bhd) RM800.0 million 15-year Medium-Term Notes (MTN) Programme with a stable outlook. STM Lottery’s entrenched domestic market position as a number forecast operator (NFO), its lengthy operating track record and strong cash flow generating ability …

MARC Ratings affirms AA- rating on STM Lottery’s MTN Programme Read More »

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. Wholly owned by Tenaga Nasional Berhad (TNB), TPGSB owns and manages 14 power plants, and manages three power plants for TNB with total capacity of 15,755MW as at end-September …

MARC Ratings affirms AAA_IS rating on TNB Power Generation’s sukuk Read More »

MARC Ratings has affirmed its ratings on Berjaya Land Berhad’s (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad at AAA(bg). The ratings outlook is stable. Currently, there is an outstanding of RM225 million under the Danajamin-guaranteed programme. There …

MARC Ratings affirms Berjaya Land’s ratings with stable outlook Read More »

MARC Ratings has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). Concurrently, the rating agency has revised the rating outlook to stable from negative. Fortune Premiere is a funding vehicle for IOI Properties Group Berhad which has provided an unconditional and irrevocable guarantee on the …

MARC Ratings revises IOI Properties’ unit’s rating outlook to stable from negative Read More »

MARC Ratings has assigned a final rating of AAAIS(s) to Projek Lebuhraya Usahasama Berhad’s (PLUS) proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM25.2 billion. The rating carries 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 …

MARC Ratings assigns final rating of AAA_IS(s) to PLUS’ proposed RM25.2 billion IMTN Programme Read More »