Rating Announcements

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 affirms FGV’s rating of AA-_IS with stable outlook Read More »

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’ …

MARC Ratings affirms ratings of MARC-1_IS/AA-_IS on UDA’s ICP/IMTN Programmes of up to RM1.0 billion Read More »

MARC Ratings has extended its MARCWatch Developing placement on Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) financial institution ratings, where they have been since August 1, 2024. The placement was in response to KFH Malaysia’s decision to voluntarily withdraw from the Malaysian market and wind down its banking business in the country, in line with …

MARC Ratings extends MARCWatch Developing on KFH Malaysia Read More »

MARC Ratings has assigned final ratings of AA-IS and MARC-1IS to SIBS Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM500.0 million, with a combined aggregate limit of up to RM3.0 billion (Sukuk Wakalah Programmes). The rating outlook is stable. The rating …

MARC Ratings assigns final ratings of AA-_IS/MARC-1_IS to SIBS’ RM3.0 billion Sukuk Wakalah Programmes Read More »

MARC Ratings has affirmed its rating of A/Stable on Singer (Malaysia) Sdn Bhd’s RM300.0 million Medium-Term Notes (MTN) Programme. The outstanding amount as at end-September 2024 stood at RM150.0 million. Singer’s well-established domestic track record in the credit sale and hire-purchase financing of consumer durables and motorcycles, and its high profit margins are key drivers …

MARC Ratings affirms ‘A’ rating on Singer’s RM300.0 million MTN Programme Read More »

MARC Ratings has affirmed its rating of AA-(cg)/Stable on Chailease Berjaya Credit Sdn Bhd’s (CBC) RM1.0 billion Medium-Term Notes (MTN) Programme. The programme is unconditionally and irrevocably guaranteed by CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). Accordingly, the rating reflects the credit strength of CHC which carries a public information rating of AA-/Stable. …

MARC Ratings affirms Chailease Berjaya’s AA-_(cg) rating Read More »

MARC Ratings has affirmed its AA-IS rating on LBS Bina Group Berhad’s Islamic Medium-Term Notes Programme of up to RM750.0 million with a stable outlook. The affirmed rating is underpinned by LBS Bina’s strong developmental track record, healthy operating margins and large unbilled sales. Moderating the rating are the group’s exposure to demand risk for …

MARC Ratings affirms LBS Bina’s AA-_IS rating 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). The rating outlook is stable. Fortune Premiere is a wholly-owned funding vehicle of IOI Properties Group Berhad (IOI Properties). The rating reflects the credit strength of IOI Properties which has provided an unconditional and …

MARC Ratings affirms AA_IS rating on IOI Properties’ unit’s RM3.0 billion Sukuk Murabahah Programme Read More »

MARC Ratings has affirmed its financial institution rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB) and the AAAIS rating on the bank’s Islamic Medium-Term Notes (IMTN) Programme. The IMTN Programme will be upsized to RM11.0 billion from the existing RM5.0 billion limit to support BPMB’s funding requirements as well as refinance its existing sukuk. …

MARC Ratings affirms Bank Pembangunan’s ratings with stable outlook Read More »

MARC Ratings has assigned a final short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) RM300 million Islamic Commercial Papers (ICP) Programme. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the …

MARC Ratings assigns final short-term rating of MARC-1_IS to Titijaya’s ICP Read More »