Ratings

MARC Ratings has affirmed the AA-IS rating on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and the A- rating on Kesturi’s RM180 million Redeemable Secured Junior Bonds, with a stable outlook. The rating differential reflects the Junior Bonds’ subordinated position. Kesturi owns and operates Duta-Ulu Kelang Expressway Phase 1 […]

MARC Ratings has upgraded Sinar Kamiri Sdn Bhd’s outstanding RM155.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah to AAIS from AA-IS and revised the outlook to stable from positive. The rating upgrade reflects Sinar Kamiri’s consistently strong operating performance and financial metrics that have exceeded expectations. The plant has maintained a high average

MARC Ratings has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 3 of RM113 million Class A, RM21 million Class B and RM11 million Class C Medium-Term Notes (MTN). The ratings outlook is stable. The affirmed ratings reflect loan-to-value (LTV) ratios for the MTN classes that are within

MARC Ratings has assigned a final rating of AAIS to Evyap Sabun Malaysia Sdn Bhd’s RM1.0 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. 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

MARC Ratings has assigned a final rating of AA+IS to TNB Kuala Muda Solar Sdn Bhd’s (TKMS) proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM1.05 billion with a stable outlook. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions

MARC Ratings has affirmed OCK Group Berhad’s (OCK) Islamic Commercial Papers (ICP) and Sukuk Murabahah Programme ratings at MARC-1IS and AA-IS/Stable, respectively. The assessment incorporates the proposed ICP upsize to RM500.0 million (from RM200.0 million), bringing the combined programme limit to RM1.5 billion. The ratings reflect OCK’s stable operating performance and resilient tower business model,

MARC Ratings has affirmed its rating on port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM3.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme at AAIS. The rating outlook is stable. The rating affirmation is driven by PTP’s strong position as a major container transshipment port supported by the expertise of and continued investments by its

MARC Ratings has withdrawn its ratings of MARC-1IS(cg)/AA-IS(cg) on Sunway Treasury Sukuk Sdn Bhd’s RM10.0 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme following the full redemption of the outstanding amount and the programme’s expiry on 19 March 2026, as confirmed by the facility agent. MARC Ratings’ analytical coverage of Sunway Berhad now comprises

MARC Ratings has affirmed its AAAIS rating on Cagamas MBS Berhad’s RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. The rating reflects the strong credit enhancement provided by the securitised assets — government staff house financing serviced through monthly salary or pension deductions — and the accumulated cash flows backing CMBS

MARC Ratings has withdrawn its AA-IS rating on AFA PRIME Berhad’s RM2.5 billion Senior Sukuk Musharakah Programme following the early redemption of the outstanding RM900 million on 31 March 2026 and subsequent cancellation of the programme, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical coverage on AFA PRIME Berhad.