Ratings

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 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 the loan-to-value (LTV) ratios of the classes under the issuances …

MARC Ratings affirms ratings on Kinabalu Capital’s Issue 3 Read More »

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) …

MARC Ratings revises Leader Energy’s rating outlook to positive Read More »

MARC Ratings has upgraded its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) to AA- from A+. The rating outlook has been revised to stable from positive. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. …

MARC Ratings upgrades Segi Astana’s MTN rating to AA- Read More »

MARC Ratings has maintained its AA-IS rating on MMC Corporation Berhad’s (MMC) Sukuk Murabahah Programme following an upsize of the programme limit to RM3.5 billion from RM2.5 billion. The rating outlook remains stable. Proceeds from issuances under the upsized programme will be used to fund working capital for its engineering projects, among others. The rating …

MARC Ratings maintains rating on MMC’s upsized sukuk Read More »

MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme.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 …

MARC Ratings withdraws Top Glove unit’s Perpetual Sukuk rating Read More »

MARC Ratings has extended its MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), where it has been since August 1, 2024. The action was in response to KFH Malaysia’s decision to voluntarily withdraw from the Malaysian market and wind down its banking business in the country, in line with its parent KFH …

MARC Ratings extends MARCWatch Developing on KFH Malaysia Read More »

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)/A_IS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme Read More »

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 »

MARC Ratings has affirmed its AAA and AAAIS ratings on Cagamas MBS Berhad’s asset-backed fixed rate serial bonds (CMBS 2005-2 and CMBS 2007-2) and Sukuk Musyarakah issuance (CMBS 2007-1-i). The outlook on all ratings is stable. Cagamas MBS was established to undertake the securitisation of government staff housing loans/financings. Repayment of the securitised loans/financings facilitated …

MARC Ratings affirms ratings on Cagamas MBS’ asset-backed Sukuk Musyarakah and fixed rate serial bonds Read More »