Ratings

MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme.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

MARC Ratings has assigned a final rating of AA-IS to Orkim Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion 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 assigns final rating of AA-_IS to Orkim’s RM1.0 billion sukuk programme Read More »

MARC Ratings has assigned preliminary ratings of AAA (Class A MTN of up to RM220 million), AA (Class B MTN of up to RM40 million) and A (Class C MTN of up to RM40 million) to Trusmadi Capital Sdn Bhd’s Issue 2 (Trusmadi Issue 2) under its Medium-Term Notes (MTN) Programme of RM3.0 billion. The …

MARC Ratings assigns preliminary ratings to Trusmadi Capital’s proposed Issue 2 Read More »

MARC Ratings has assigned corporate credit ratings of A+/MARC-1 to Malaysian Industrial Development Finance Berhad (MIDF). Concurrently, MIDF’s wholly-owned subsidiary, MIDF Amanah Investment Bank Berhad (MAIB), has been accorded financial institution ratings of A+/MARC-1. MAIB is highly integrated with MIDF and is the core subsidiary of the group, accounting for about 90% of the group’s …

MARC Ratings assigns A+/MARC-1 ratings to MIDF and MIDF Amanah Investment Bank Read More »

MARC Ratings has affirmed its rating of AA-IS with a stable outlook on MY E.G. Services Berhad’s (MYEG) Islamic Medium-Term Notes Programme of up to RM1.0 billion in nominal value. The rating affirmation incorporates MYEG’s well-established position as a concessionaire for e-government services, diversified revenue from non-concession businesses, high operating margin and healthy cash flow …

MARC Ratings affirms MYEG’s AA-_IS rating Read More »

MARC Ratings has maintained its ratings of AAIS/AA on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/ Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes which will be upsized to RM3.5 billion from RM2.0 billion. The ratings outlook is stable. The programmes carry an unconditional and irrevocable guarantee from OSK Holdings Berhad (OSK). The ratings continue to …

MARC Ratings maintains OSK unit’s Sukuk/MCMTN ratings on proposed upsize of up to RM3.5 billion Read More »