Ratings

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 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 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 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 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 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 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 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 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 has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding currently stands at RM270.0 million. The rating affirmation reflects the traffic resilience on Cerah Sama’s mature Cheras-Kajang Highway and the company’s stable cash flow generation. The rating also reflects Cerah Sama’s strong liquidity position