Ratings

MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings at AAA/MARC-1 with a stable outlook. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk programmes 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 […]

MARC Ratings has affirmed its AA+/MARC-1 corporate credit ratings on CIMB Group Holdings Berhad (CIMB Group) and the 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 a non-operating financial holding company overseeing one of Malaysia’s largest banking groups, with

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. CIMB Bank’s ratings reflect its systemic importance to the domestic banking system, underpinned by

MARC Ratings has affirmed its MARC-1IS/AIS ratings on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme with a stable outlook. The ratings affirmation reflects GBG’s established construction track record, that supports its ability to secure infrastructure contracts alongside its property development activities. This is moderated by limited near-term earnings

MARC Ratings has assigned preliminary AA-(cg)/MARC-1(cg) ratings with a stable outlook to Moneymax Treasure Sdn Bhd’s (MTSB) proposed RM200.0 million Tranche 1 (including RM50.0 million CP sub-limit) under a proposed RM500.0 million CP/MTN Programme. The facility is jointly and severally, irrevocably and unconditionally guaranteed by Cash Online Sdn Bhd (COSB) and its Singapore-listed parent, MoneyMax

MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s outstanding RM77.0 million Green Sustainable and Responsible Investment Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor. The plant achieved its commercial operations date on 2 December 2020. The

MARC Ratings has affirmed the AA-IS rating on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and the A- rating on Kesturi’s RM180 million Redeemable Secured Junior Bonds, with a stable outlook. The rating differential reflects the Junior Bonds’ subordinated position. Kesturi owns and operates Duta-Ulu Kelang Expressway Phase 1

MARC Ratings has upgraded Sinar Kamiri Sdn Bhd’s outstanding RM155.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah to AAIS from AA-IS and revised the outlook to stable from positive. The rating upgrade reflects Sinar Kamiri’s consistently strong operating performance and financial metrics that have exceeded expectations. The plant has maintained a high average

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 loan-to-value (LTV) ratios for the MTN classes that are within

MARC Ratings has assigned a final rating of AAIS to Evyap Sabun Malaysia Sdn Bhd’s RM1.0 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme 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