Ratings

MARC Ratings has affirmed its financial institution rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB) and the AAAIS rating on the bank’s Islamic Medium-Term Notes (IMTN) Programme. The IMTN Programme will be upsized to RM11.0 billion from the existing RM5.0 billion limit to support BPMB’s funding requirements as well as refinance its existing sukuk. […]

MARC Ratings has assigned a final short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) RM300 million Islamic Commercial Papers (ICP) Programme. 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 draft documentation on which the

MARC Ratings has assigned preliminary ratings of AA-IS(cg)/AIS(cg) to TG Treasury Berhad’s proposed RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme. Concurrently, MARC Ratings has affirmed its rating of AIS(cg) on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Wakalah Programme. The outlook on all ratings is stable. TG Treasury and TG Excellence are wholly-owned

MARC Ratings has assigned a preliminary rating of AIS to HCK Cap Access Berhad’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM2.0 billion with a stable outlook. HCK Cap Access is a wholly-owned funding vehicle of HCK Capital Group Berhad (HCK). The programme allows for the issuance of senior IMTN and/or subordinated perpetual

MARC Ratings has affirmed its ratings of AA/MARC-1 on Pac Lease Berhad’s Medium-Term Notes/ Commercial Papers (MTN/CP) Programmes with a combined limit of RM1.5 billion. The long-term rating outlook is stable. As of October 31, 2024, the outstanding issuances stood at RM535 million MTNs and RM280 million CPs. Pac Lease’s strong market position and lengthy

MARC Ratings has assigned a preliminary rating of AA-IS to Orkim Sdn Bhd’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion with a stable outlook. Orkim’s leading position in the domestic transportation of clean petroleum products (CPP) and ownership of the largest fleet in the domestic CPP tanker segment (end-June 2024: 15

MARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah Programme of up to RM10.0 billion with a stable outlook. TPGSB’s rating is equalised with that of its parent, Tenaga Nasional Berhad (TNB, AAA/Stable), due to its status as the key energy generation arm of TNB, and the significant

MARC Ratings has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s outstanding RM165.0 million Sukuk Wakalah with a stable outlook. The rating reflects the credit strength of Tanjung Bin O&M’s parent, Malakoff Power Berhad (MPower)(AA-IS/Stable), which has provided an unconditional and irrevocable undertaking to top up any shortfall in the finance service reserve account

MARC Ratings has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) outstanding RM1.77 billion Sukuk Murabahah, and MARC-1IS/AA-IS ratings on MPower’s RM1.2 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes, under which the current outstanding is RM5.0 million. The ratings outlook is stable. MPower is wholly owned by Malakoff Corporation Berhad (Malakoff), and

MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UEM Sunrise Berhad’s Islamic Commercial Papers (ICP)/ Islamic Medium-Term Notes (IMTN) Programme (ICP/IMTN-3) with a combined nominal value of RM4.0 billion. Concurrently, the rating agency has also affirmed its rating of AA-IS on UEM Sunrise’s two RM2.0 billion IMTN Programmes (IMTN-1 and IMTN-2). The ratings outlook