Ratings

MARC Ratings affirms AA-IS rating on WM Senibong Capital’s RM1.0 billion Sukuk Wakalah Programme

MARC Ratings has affirmed its AA-IS rating on special purpose vehicle WM Senibong Capital Berhad’s (WMSC) Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM1.0 billion. The rating outlook is stable. WMSC is wholly owned by WM Senibong Sdn Bhd. The rating affirmation considers WM Senibong’s well-established track record in niche property development in …

MARC Ratings affirms AA-IS rating on WM Senibong Capital’s RM1.0 billion Sukuk Wakalah Programme Read More »

MARC Ratings affirms EDOTCO Malaysia’s AA+IS rating

MARC Ratings has affirmed its AA+IS rating on EDOTCO Malaysia Sdn Bhd’s RM3.0 billion Islamic Medium-Term Notes Programme with a stable outlook. The affirmation continues to reflect EDOTCO Malaysia and its subsidiaries’ (collectively EDOTCO Malaysia Group) leading position in the growing domestic telecommunication tower industry, the underlying stability of its business model that provides strong …

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MARC Ratings affirms Putrajaya Bina’s Sukuk Wakalah Programme rating

MARC Ratings has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. The rating affirmation is premised on the quantum of periodic payment streams from the Malaysian government (AAA/Stable) in the form of availability charges (AC) that is deemed sufficient to …

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MARC Ratings affirms ratings on Putrajaya Holdings’ sukuk programmes

MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) sukuk programmes as follows: RM1.0 billion 20-year Sukuk Wakalah Programme (due in 2041) at AAAIS RM370.0 million Sukuk Musharakah Programme (due in 2030) at AAAIS; and RM3.0 billion Sukuk Musharakah Programme (due in 2032) at AAAIS The outlook for all ratings is stable. …

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MARC Ratings assigns preliminary rating of AAAIS to PNB Merdeka Ventures’ proposed Sukuk Wakalah Programme of up to RM6.0 billion

MARC Ratings has assigned a preliminary rating of AAAIS to PNB Merdeka Ventures Sdn. Berhad’s (PNBMV) proposed Merdeka Sukuk Wakalah Programme of up to RM6.0 billion with a stable outlook. The assigned rating is equalised to Permodalan Nasional Berhad’s (PNB) corporate credit rating of AAA/Stable which is based on publicly available information. The rating equalisation …

MARC Ratings assigns preliminary rating of AAAIS to PNB Merdeka Ventures’ proposed Sukuk Wakalah Programme of up to RM6.0 billion Read More »

MARC Ratings affirms ratings on UMW’s Sukuk Programmes

MARC Ratings has affirmed its AA+IS rating on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes (Sukuk Musharakah) Programme and its AA-IS rating on the RM2.0 billion Perpetual Sukuk Programme. The outlook on all ratings is stable. The rating affirmation is premised on UMW’s continued leading market position in the domestic automotive market that …

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MARC Ratings assigns final rating of AIS(cg) to Eco World’s RM2.0 billion Perpetual Sukuk Programme

MARC Ratings has assigned a final rating of AIS(cg) to Eco World Perpetual Capital Berhad’s RM2.0 billion Perpetual Sukuk Wakalah (Perpetual Sukuk) Programme. 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 material way from …

MARC Ratings assigns final rating of AIS(cg) to Eco World’s RM2.0 billion Perpetual Sukuk Programme Read More »

MARC Ratings affirms ratings on Yinson’s programmes

MARC Ratings has affirmed its A+IS and A-IS ratings on Yinson Holdings Berhad’s (YHB) RM1.0 billion Islamic Medium-Term Notes Programme (Senior Sukuk) and RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential between the Senior Sukuk and Perpetual Sukuk reflects MARC Ratings’ application of its notching approach to subordinated debt and …

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