Rating Announcements

MARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga). Concurrently, the long-term rating outlook has been revised to positive from stable. The outlook revision reflects the positive outcome from Kenanga’s revenue diversification strategy that has improved its overall profitability metrics and provides headroom against …

MARC Ratings revises Kenanga Investment Bank’s rating outlook to positive from stable Read More »

MARC Ratings has assigned a rating of AAIS to Cellco Capital Berhad’s (Cellco) RM130 million Islamic Medium-Term Notes (Issue 2) to be issued under its Sukuk Ijarah Programmes of up to RM1.0 billion. The rating outlook is stable. The RM130 million will be the second issuance under the Sukuk Ijarah Programmes after the RM520 million …

MARC Ratings assigns AA_IS rating to Cellco’s Issue 2 Read More »

MARC Ratings has affirmed its AAAIS/Stable rating on Celcom Networks Sdn Bhd’s (CNSB) Sukuk Murabahah Programme of RM5.0 billion. CNSB is wholly owned by Celcom Berhad, which, in turn, is 100%-owned by CelcomDigi Berhad, and provides network telecommunication (telco) services to the group. MARC Ratings considers the overall credit profile of CNSB’s ultimate shareholder, CelcomDigi, …

MARC Ratings affirms Celcom Networks’ AAA_IS rating Read More »

MARC Ratings has affirmed its financial institution ratings of A+/MARC-1/Stable on Bank Muamalat Malaysia Berhad. The rating agency has concurrently affirmed its ratings on the bank’s Sukuk Wakalah Programme of up to RM5.0 billion as follows:  Senior Sukuk Wakalah at A+IS /Stable Tier-2 Subordinated Sukuk Wakalah at A-IS /Stable Additional Tier-1 (AT-1) Sukuk Wakalah at …

MARC Ratings affirms Bank Muamalat’s ratings Read More »

MARC Ratings has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) RM800.0 million Sukuk Wakalah Programme. The rating outlook remains negative. The negative rating outlook primarily reflects the continued high and volatile cocoa bean price environment that has led to a sizeable increase in GCB’s working capital requirements. The rating agency would revise …

MARC Ratings maintains Guan Chong’s outlook at negative Read More »

MARC Ratings has withdrawn its AAIS rating on Kimanis Power Sdn Bhd’s RM1.16 billion Sukuk Programme. The rating withdrawal follows the full redemption of the outstanding RM330.0 million under the programme and the subsequent cancellation of the programme, as confirmed by the facility agent on October 9, 2024. Accordingly, MARC Ratings will no longer provide …

MARC Ratings withdraws rating on Kimanis Power’s Sukuk Read More »

MARC Ratings has affirmed its rating of A+IS on JB Cocoa Sdn Bhd’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook remains negative. JB Cocoa is a wholly-owned key manufacturing subsidiary of Singapore-based JB Foods Limited, which has provided a corporate guarantee on the programme. Accordingly, the rating assessment considers the consolidated …

MARC Ratings maintains JB Cocoa’s outlook at negative Read More »

MARC Ratings has affirmed its ratings of AAIS /AA on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes 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 …

MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings Read More »

MARC Ratings has affirmed its ratings of MARC-1IS /AIS on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The long-term rating outlook is stable. As of end-September 2024, GBG had an outstanding RM53.0 million IMTN and RM74.0 million ICP under the rated programme. The long-term rating mainly incorporates GBG’s …

MARC Ratings affirms MARC-1_IS/A_IS ratings on Gabungan AQRS’ ICP/IMTN Programme Read More »

MARC Ratings has affirmed its non-bank financial institution rating of AA/Stable on CGS International Securities Malaysia Sdn Bhd (CGS MY) and the MARC-1 rating on CGS MY’s Commercial Papers Programme of up to RM1.0 billion in nominal value. The ratings reflect CGS MY’s growing business profile in the domestic stockbroking industry. CGS MY has been …

MARC Ratings affirms CGS MY’s ratings Read More »