Ratings

MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. TNB’s strong credit profile reflects its monopoly on electricity transmission in Peninsular Malaysia and Sabah, its status as the largest domestic electricity producer, distributor and retailer, and the favourable incentive-based regulation framework under which it is able to …

MARC Ratings affirms Tenaga Nasional’s AAA rating Read More »

MARC Ratings has placed its financial institution (FI) ratings of AA+/MARC-1 on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia) on MARCWatch Developing. The rating action follows the announcement on July 31, 2024, by KFH Malaysia that it will voluntarily withdraw from the Malaysian market and wind down its banking business in the country. MARC Ratings …

MARC Ratings places Kuwait Finance House Malaysia’s ratings on MARCWatch Developing Read More »

MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable. The rating affirmation incorporates Sunsuria’s conservative property development approach, healthy overall take-up rates and low inventory level. The rating also factors in the group’s low-to-moderate leverage position and healthy liquidity position. Moderating the rating …

MARC Ratings affirms A+_IS rating on Sunsuria’s RM500.0 million Sukuk Wakalah Programme Read More »

MARC Ratings has assigned a preliminary rating of AA-IS to special purpose vehicle WM Senibong Capital Berhad’s (WMSC) proposed 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 reflects the credit strength of property developer WM Senibong …

MARC Ratings assigns preliminary rating of AA-_IS to WM Senibong Capital’s proposed RM1.0 billion Sukuk Wakalah Programme Read More »

MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s outstanding RM87.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor. The affirmed rating reflects the strength of the 21-year power purchase …

MARC Ratings affirms UiTM Solar Power Dua’s sukuk rating at AA-_IS Read More »

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

MARC Ratings affirms ratings on UMW’s IMTN and Perpetual Sukuk Programmes Read More »

MARC Ratings has affirmed its ratings of MARC-1IS and A+IS on George Kent (Malaysia) Berhad’s RM100.0 million Islamic Commercial Papers Programme and RM500.0 million Islamic Medium-Term Notes Programme, subject to a combined limit of RM500.0 million. The rating outlook is stable. The affirmed ratings continue to reflect George Kent’s strong liquidity position and healthy balance …

MARC Ratings affirms George Kent’s ratings Read More »

MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM30.0 million Fixed Rate Serial Bonds. The rating outlook is stable. The rating reflects the credit strength of AEON Co (M) Berhad (AEON), which, as the principal lessee of CISB-owned AEON Mall Ipoh Klebang, makes periodic fixed lease payments under a …

MARC Ratings affirms AA- rating on Central Impression’s outstanding Fixed Rate Serial Bonds Read More »

MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.15 billion sukuk with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, which operates a combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an …

MARC Ratings affirms AAA_IS rating on TNB Northern’s sukuk Read More »

MARC Ratings has affirmed its A+IS rating on Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes Programme (Senior Sukuk). Concurrently, the rating agency has also affirmed its A-IS rating on the group’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential between the instruments reflects the subordinated structure of the Perpetual …

MARC Ratings affirms ratings on Yinson’s programmes Read More »