Rating Announcements

MARC Ratings extends UiTM Solar’s MARCWatch Negative placement

MARC Ratings has extended its MARCWatch Negative placement on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM192.3 million, where it has been since January 28, 2022. The rating action reflects MARC Ratings’ concern on the limited time since the 50MWac plant fully resumed its operations on …

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MARC Ratings assigns “Gold” Impact Assessment to Alam Flora’s Green Financing Framework

MARC Ratings has assigned a “Gold” Impact Assessment to Alam Flora Sdn Bhd’s Green Financing Framework (Framework). The Framework will finance green projects falling under five categories: renewable energy (waste-to-energy), sustainable waste management, sustainable water management and projects, climate change adaption and environmentally sustainable management of living natural resources and land use. MARC Ratings is …

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MARC Ratings assigns “Gold” Impact Assessment to Sunway South Quay’s Sustainable Finance Framework

MARC Ratings has assigned a “Gold” Impact Assessment to Sunway South Quay Sdn Bhd’s (SSQ) Sustainable Finance Framework (the Framework). The Framework will finance green, social and sustainability projects falling under three categories: green building, renewable energy, and socioeconomic advancement and empowerment.       MARC Ratings is of the opinion that the Framework is aligned …

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MARC Ratings affirms ratings on Sime Darby Plantation

MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA and its Perpetual Subordinated Sukuk Programme’s rating of up to RM3.0 billion at AAIS. Both ratings carry a stable outlook. The affirmed corporate credit rating reflects SD Plantation’s strong cash flow generating ability from its geographically sizeable and integrated oil …

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MARC Ratings affirms AAAIS(fg) rating on Masteel’s RM130.0 million guaranteed Sukuk Ijarah Programme

MARC Ratings has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Danajamin Nasional Berhad-guaranteed Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on MARC Ratings’ assessment of credit strength of Danajamin (AAA/Stable) which has provided an unconditional and irrevocable financial guarantee insurance on the …

MARC Ratings affirms AAAIS(fg) rating on Masteel’s RM130.0 million guaranteed Sukuk Ijarah Programme Read More »

MARC Ratings affirms AA-IS rating on Jimah East Power’s sukuk

MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.72 billion Sukuk Murabahah with a stable outlook. The rating affirmation is underpinned by JEP’s predictable cash flows from its 2×1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/stable). The rating …

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MARC Ratings assigns preliminary rating of AA-(cg) to Chailease Berjaya’s RM1.0 billion proposed MTN Programme

MARC Ratings has assigned a preliminary rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) proposed RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). CBC is a 70:30 joint venture between CHC and …

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MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings with stable outlook

MARC Ratings has affirmed its AAIS /AA ratings on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/ Multi-Currency Medium-Term Notes Programmes (MCMTN) with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and irrevocable guarantee …

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MARC Ratings revises Kapar Energy Ventures’ rating outlook to stable

MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM580.0 million Sukuk Ijarah and concurrently revised the outlook to stable from negative. The outlook revision reflects the improvement in KEV’s cash flow protection following better operational metrics recorded by its 2,200MW power plant. Over the last two years, the …

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