Ratings

MARC Ratings affirms AA-IS and A- ratings on Kesturi’s Senior Sukuk and Junior Bonds

MARC Ratings has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds with a stable outlook. The rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordinated status in line with the rating agency’s …

MARC Ratings affirms AA-IS and A- ratings on Kesturi’s Senior Sukuk and Junior Bonds Read More »

MARC Ratings revises Leader Energy’s rating outlook to positive

MARC Ratings has affirmed its AA-IS rating on Leader Energy Sdn Bhd’s outstanding RM215.0 million ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. Concurrently, the rating outlook has been revised to positive from stable. Leader Energy is the investment holding company of two solar power project companies, Leader Solar Energy Sdn Bhd (LSE I) …

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MARC Ratings withdraws Top Glove unit’s Perpetual Sukuk rating

MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme. TG Excellence is a special funding vehicle of Top Glove Corporation Berhad. The rating withdrawal follows the full redemption of the outstanding RM1.18 billion under the programme on February 27, 2025, and the cancellation of the same as confirmed …

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MARC Ratings assigns final ratings of AA-IS(cg)/AIS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme

MARC Ratings has assigned final ratings of AA-IS(cg)/AIS(cg) to TG Treasury Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme with a stable outlook. TG Treasury is a wholly-owned funding vehicle of Top Glove Corporation Bhd which has provided an irrevocable and unconditional guarantee on the programme. The rating agency has reviewed the final …

MARC Ratings assigns final ratings of AA-IS(cg)/AIS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme Read More »

MARC Ratings assigns preliminary ratings to Northport’s proposed RM1.0 billion Sukuk Wakalah Programmes

MARC Ratings has assigned preliminary ratings of MARC-1IS/AAIS to Northport (Malaysia) Bhd’s proposed RM1.0 billion Islamic Commercial Papers (ICP) Programme/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah Programmes). The ICP programme has a sublimit of RM500 million. The long-term rating outlook is stable. Proceeds from issuances under the proposed Sukuk Wakalah Programmes will mainly be …

MARC Ratings assigns preliminary ratings to Northport’s proposed RM1.0 billion Sukuk Wakalah Programmes Read More »