Ratings

MARC Ratings has upgraded DRB-HICOM Berhad’s RM3.5 billion Sukuk Programme rating to AA-IS from A+IS. Accordingly, the rating outlook has been revised to stable from positive. The rating upgrade incorporates DRB-HICOM’s strengthened credit profile from the robust performance of its automotive operations in recent years, particularly its key subsidiary PROTON Holdings Berhad. Improving leverage and …

MARC Ratings upgrades DRB-HICOM’s Sukuk Programmes ratings Read More »

MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM320.0 million Sukuk Ijarah with a stable outlook. The affirmed rating benefits from a two-notch uplift from KEV’s standalone rating due to expected support from Tenaga Nasional Berhad (AAA/Stable), which has 60.0% ownership of KEV through its wholly-owned subsidiary TNB …

MARC Ratings affirms AA+_IS rating on Kapar Energy Ventures’ sukuk Read More »

MARC Ratings has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650 million with a stable outlook. SAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns 80% of Ranhill SAJ Sdn Bhd. As the dividends from Ranhill SAJ form the source of the profit …

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

MARC Ratings has affirmed its rating on Penang Port Sdn Bhd’s (PPSB) Islamic Medium-Term Notes Issuance Programme of up to RM1.0 billion at AA-IS with a stable outlook. The rating affirmation considers PPSB’s strong track record as the operator of Penang Port, the key trade gateway port in northern Peninsular Malaysia that handles container and …

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

MARC Ratings has assigned preliminary ratings of AAA/AAAIS to Cagamas Berhad’s proposed Conventional/Islamic Medium-Term Notes (MTN/IMTN) Programmes with a combined limit of up to RM80.0 billion. Concurrently, the rating agency has affirmed its ratings on Cagamas’ bonds and sukuk issuances as follows: MARC-1/MARC-1IS on Conventional/Islamic Commercial Papers (CCP/ICP) Programmes with a combined limit of RM20.0 …

MARC Ratings assigns preliminary AAA/AAA_IS ratings to Cagamas’ proposed MTN/IMTN Programme Read More »

MARC Ratings has assigned a preliminary rating of AAIS to Berapit Mobility Sdn Bhd’s (BMSB) proposed Sustainability Islamic Medium-Term Notes Programme (sukuk programme) of up to RM1.5 billion. The outlook on the rating is stable. The rating reflects the size and predictability of operating cash flow under the long lease agreements of 25 years, the …

MARC Ratings assigns preliminary rating of AA_IS to Berapit Mobility’s proposed RM1.5 billion sukuk programme Read More »

MARC Ratings has assigned a preliminary rating of AA-IS to Power Root Berhad’s proposed RM500.0 million Islamic Medium-Term Notes (IMTN) Programme. The rating outlook is stable. The assigned rating is premised on Power Root’s established position in the instant beverage sector, supported by an extensive sales network, and its steady financial performance, characterised by sustained …

MARC Ratings assigns preliminary AA-_IS rating to Power Root’s proposed RM500.0 million Sukuk Wakalah Programme Read More »

MARC Ratings has upgraded Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme rating to AAIS from AA-IS and accordingly revised the rating outlook to stable from positive. Evyap Malaysia’s healthy operational and financial performance, and sustained strong credit metrics since the initial rating was assigned in 2020 are key rating drivers …

MARC Ratings upgrades Evyap Malaysia’s RM500.0 million Sukuk Wakalah Programme rating to AA_IS Read More »

MARC Ratings has affirmed its financial institution rating on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) at AAA. The rating agency has also affirmed its AAAIS/MARC-1IS ratings on the bank’s existing Islamic Medium-Term Notes Programme/ Islamic Commercial Papers Programme with a combined limit of RM3.0 billion. The rating outlook is stable. The affirmation …

MARC Ratings affirms SME Bank’s financial institution rating with stable outlook Read More »

MARC Ratings has affirmed its ratings of AIS(cg)/MARC-1IS(cg) on special purpose funding vehicle SkyWorld Capital Berhad’s RM300.0 million Islamic Medium-Term Notes/Islamic Commercial Papers (IMTN/ICP) Programmes. The rating outlook is stable. The ratings reflect the credit profile of parent SkyWorld Development Berhad (SkyWorld) which has extended an irrevocable and unconditional guarantee on the programmes. As at …

MARC Ratings affirms ratings of A_IS(cg)/MARC-1_IS(cg) on SkyWorld Capital’s IMTN/CP Programmes of up to RM300.0 million Read More »