Rating Announcements

MARC Ratings affirms Point Zone’s AAIS(cg) rating

MARC Ratings has affirmed its AAIS(cg)/Stable rating on Point Zone (M) Sdn Bhd’s Sukuk Wakalah Programme. Point Zone is a funding vehicle established by KPJ Healthcare Berhad (KPJ) solely to issue the sukuk, and the rating is based on KPJ’s credit strength under its corporate guarantee. The rating affirmation reflects KPJ’s strong business profile, anchored […]

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

MARC Ratings has affirmed its rating of AA-IS on MMC Port Holdings Berhad’s RM1.0 billion Sukuk Murabahah Programme with a stable outlook. The rating affirmation reflects the strong collective credit profile of port operators under MMC Port which continue to demonstrate robust operational track records and strong cash flow generation, enabling steady dividend upstreaming to

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MARC Ratings affirms ratings on DRB-HICOM’s sukuk programmes

MARC Ratings has affirmed its ratings on DRB-HICOM Berhad’s RM3.5 billion Sukuk Programme and RM2.0 billion Perpetual Sukuk Musharakah Programme at AA-IS and AIS. The outlook on the ratings is stable. The two-notch rating differential between the programmes reflects the subordination of the perpetual sukuk to the senior sukuk. The outstanding under the programmes stood

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MARC Ratings assigns final rating of A+IS to Yinson Holdings’ IMTN Programme

MARC Ratings has assigned a final rating of A+IS to Yinson Holdings Berhad’s (YHB) Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) Programme of up to RM2.0 billion. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any

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MARC Ratings extends MARCWatch Developing on KFH Malaysia amid planned withdrawal from the market

MARC Ratings has maintained its MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), under surveillance since 1 August 2024, after the bank’s decision to voluntarily exit the Malaysian market and wind down operations as part of parent KFH Group’s strategy to focus on the Middle East region. MARC Ratings considers KFH Malaysia

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MARC Solutions assigns “Gold” Impact Assessment to Sunway Cochrane’s Green Sukuk Framework

MARC Solutions has assigned a “Gold” Impact Assessment to Sunway Cochrane Sdn Bhd’s (Sunway Cochrane) Green Sukuk Framework. The framework sets forth the guiding principles for Sunway Cochrane’s issuance of green sukuk for Eligible Projects that contribute towards environmental benefits. Sunway Cochrane is a property development company jointly owned by Sunway Berhad, through its subsidiary

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MARC Ratings assigns sub-sovereign rating of AAA to Penang

MARC Ratings has assigned an unsolicited sub-sovereign credit rating of AAA with a stable outlook to the state of Penang. The rating reflects Penang’s low debt burden, dynamic economy anchored by high value–added sectors, resilient labour market supported by sustained investment inflows, and stable political environment. Penang has one of the most dynamic economies in

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MARC Ratings assigns final rating to S P Setia’s ICP Programme of up to RM500.0 million

MARC Ratings has assigned a final rating of MARC-1IS to S P Setia Berhad’s RM500.0 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 preliminary

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