Rating Announcements

MARC Ratings affirms Cerah Sama’s AA-IS rating

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 RM330.0 million. The rating reflects the resilient traffic on the mature, 23-year-old Cheras-Kajang Highway and its stable cash flow generation. Cerah Sama’s strong liquidity position and accommodative sukuk repayment structure further …

MARC Ratings affirms Cerah Sama’s AA-IS rating Read More »

MARC Ratings affirms AA-IS rating on MMC Port Holdings’ Sukuk

MARC Ratings has affirmed its AA-IS rating on MMC Port Holdings’ RM1.0 billion Sukuk Murabahah programme with a stable outlook. MMC Port is an investment holding company of port operators whose strong competitive advantage in transhipment services in the region and trade gateways domestically as well as long operating track record remain key rating drivers. …

MARC Ratings affirms AA-IS rating on MMC Port Holdings’ Sukuk Read More »

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia

MARC Ratings has affirmed its financial institution (FI) rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating is driven by CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support provided by the government through Bank Negara Malaysia (BNM), its …

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia Read More »

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia

MARC Ratings has affirmed its financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with a stable outlook. Kenanga’s strong market position and lengthy experience in the stockbroking industry remain key rating drivers. Apart from stockbroking, the rating also considers the bank’s improving position in investment and wealth management, and its consistently …

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia Read More »

MARC Ratings affirms MBSB Bank’s financial institution rating with stable outlook

MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and concurrently affirmed its A+IS rating on MBSB Bank’s RM5.0 billion Sukuk Wakalah programme. The ratings outlook is stable. MBSB Bank’s sound capitalisation levels and strong support from its ultimate shareholder Employees Provident Fund (EPF) remain key rating drivers. The …

MARC Ratings affirms MBSB Bank’s financial institution rating with stable outlook Read More »

MARC Ratings assigns preliminary rating of A to Singer’s RM300.0 million MTN Programme

MARC Ratings has assigned a preliminary rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) proposed RM300.0 million Medium-Term Notes (MTN) Programme. The rating incorporates Singer’s long and profitable track record in selling and financing consumer durables and motorcycles, underpinned by strong operating profit margins. Moderating factors are intense competition particularly …

MARC Ratings assigns preliminary rating of A to Singer’s RM300.0 million MTN Programme Read More »

MARC Ratings withdraws rating on GDC Putrajaya’s Islamic Debt Securities on full redemption

MARC Ratings has withdrawn its rating of AAAIS/Stable on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) following the full settlement of the final tranche of the BaIDS (Tranche 6 of RM50.0 million) on December 2, 2022. Accordingly, MARC Ratings will no longer provide analytical coverage …

MARC Ratings withdraws rating on GDC Putrajaya’s Islamic Debt Securities on full redemption Read More »

MARC Ratings removes UiTM Solar’s rating from MARCWatch Negative and lowers rating

MARC Ratings has removed UiTM Solar Power Sdn Bhd’s rating from MARCWatch Negative placement and concurrently lowered the rating to A+IS from the AA-IS prior to the MARCWatch placement. The rating outlook is negative. The current outstanding is RM192.3 million Green SRI Sukuk. The rating removal from MARCWatch placement follows moderating concerns on UiTM Solar’s …

MARC Ratings removes UiTM Solar’s rating from MARCWatch Negative and lowers rating Read More »