Ratings

MARC Ratings has affirmed its AAAIS(bg) rating on Ranhill Sabah Energy II Sdn Bhd’s (RSEII) outstanding RM250.0 million Islamic Medium-Term Notes Programme with a stable outlook. The rating reflects the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad (BPMB), rated AAA/Stable by MARC Ratings. RSEII owns and operates the 190MW combined-cycle gas turbine […]

MARC Ratings has extended its MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), where the bank has been placed under this surveillance since August 1, 2024. The action resulted from KFH Malaysia’s decision to voluntarily withdraw from the Malaysian market and wind down its banking business in the country, which is in

MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s (WCT) debt and sukuk programmes, and revised the ratings outlook to positive from stable. The positive outlook has factored in the potential improvement in the group’s balance sheet from the utilisation of part proceeds from WCT’s disposal of three mall assets into Paradigm Real Estate

MARC Ratings has affirmed its AAAIS rating on TNB Western Energy Berhad’s (TNB Western) outstanding RM3.5 billion sukuk with a stable outlook. TNB Western serves as the funding vehicle for TNB Manjung Five Sdn Bhd, a wholly-owned indirect subsidiary of Tenaga Nasional Berhad (TNB). TNB Manjung Five operates a 1,000MW coal-fired power plant in Manjung,

MARC Ratings has upgraded its rating on Grand Sepadu (NK) Sdn Bhd’s RM210.0 million Sukuk Murabahah to AAIS from AA-IS. Concurrently, the rating outlook has been revised to stable from positive. The upgrade reflects Grand Sepadu’s strengthened financial profile, driven by ongoing debt reduction, consistent traffic demand and cash flow generation, and a demonstrated track

MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings at AAA/MARC-1/Stable. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk issuances as follows: • RM10.0 billion Senior Sukuk Wakalah Programme (Sukuk Wakalah) at AAAIS/Stable • RM5.0 billion Tier 2 Junior Sukuk Programme at AA+IS/Stable CIMB Islamic’s FI

MARC Ratings has affirmed its corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and AA rating on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The outlook on all ratings is stable. CIMB Group is the non-operating financial holding company of the country’s second-largest banking group with total

MARC Ratings has affirmed its financial institution ratings on CIMB Bank Berhad at AAA/MARC-1. The rating agency has concurrently affirmed its AA+ rating on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. The affirmation reflects CIMB Bank’s systemic importance within the domestic banking system, with its

MARC Ratings has affirmed OCK Group Berhad’s (OCK) Islamic Commercial Papers (ICP) Programme rating at MARC-1IS and its Sukuk Murabahah Programme rating at AA-IS/Stable. The rating agency has considered the potential reduction in OCK’s ICP Programme to RM200.0 million (from RM500.0 million) and the concurrent increase in its Sukuk Murabahah Programme to RM1.0 billion (from

MARC Ratings has affirmed its AAIS/Stable rating on port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) Islamic Medium-Term Notes (Sukuk Murabahah) Programme which will be upsized to RM3.5 billion from RM2.15 billion. The rating reflects PTP’s strong position as a major container transshipment port operator in the region, improved operating efficiency and healthy cash flow