Ratings

MARC Ratings has assigned ratings to MBSB Bank Berhad’s Structured Covered Sukuk Murabahah as follows: Tranche 2 and Tranche 3 at AAAIS Tranche 4 at AA+IS All the tranches carry a stable outlook. The AAAIS ratings on Tranche 2 and Tranche 3 are premised on their fully cash-collateralised positions. As at end-June 2024, Tranche 2 […]

MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and its A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. Concurrently, the rating agency has assigned ratings on MBSB Bank’s existing Sukuk Wakalah Programme of up to RM10.0 billion as follows: Senior Sukuk Wakalah at A+IS Tier-2

MARC Ratings has assigned long-term/short-term corporate credit ratings of A+/MARC-1 to MBSB Berhad, with a stable outlook. MBSB’s long-term rating is aligned with the rating of its core wholly-owned banking subsidiary, MBSB Bank (A+/Stable), premised on the fact that MBSB is a non-operating financial holding company with no borrowings and whose performance is closely linked

MARC Ratings has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a wholly-owned funding vehicle of Trans Thai-Malaysia (Thailand) Limited (TTMT) for the construction of two gas pipelines to transport natural gas from the Malaysia-Thailand Joint Development Area in the Gulf of

MARC Ratings has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) Programme with a stable outlook. The outstanding under the programme was RM435.0 million as at end-September 2024. As a funding vehicle for Ahmad Zaki Resources Berhad (AZRB), ACSB facilitates the subscription of Redeemable Convertible Preference

MARC Ratings has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) RM10.0 billion nominal value Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes. The long-term rating outlook is stable. The affirmed ratings reflect PDB’s well-established track record and its very strong market position in the domestic retailing and marketing of petroleum products. The ratings

MARC Ratings has affirmed its rating of AA- on STM Lottery Sdn Bhd’s RM800.0 million 15-year Medium-Term Notes (MTN) Programme with a stable outlook. The rating affirmation considers STM Lottery’s key position as the leading licensed number forecast operator in the country, its long operating track record, as well as strong cash flow generation relative

MARC Ratings has affirmed its rating of AA-IS with a stable outlook on Malaysian Resources Corporation Berhad’s (MRCB) Islamic Medium-Term Notes Programme (Sukuk Murabahah) of up to RM5.0 billion. The affirmed rating is mainly driven by MRCB’s established property track record, particularly in transit-oriented developments (TOD), and further growth in its sizeable construction order book.

MARC Ratings has affirmed SD Guthrie Berhad’s corporate credit rating at AAA. Concurrently, the rating agency has also affirmed its rating on SD Guthrie’s Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion at AAIS. The two-notch rating differential between SD Guthrie’s corporate credit rating and the Perpetual Sukuk rating is in line

MARC Ratings has affirmed its rating of AA-IS on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. MMC group’s strong competitive strength and longstanding track record in key sectors of the economy, namely ports and logistics, engineering, and energy and utilities, remain the key rating drivers. The rating is moderated