Ratings

MARC Ratings has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. The rating affirmation is mainly premised on the sufficiency of the periodic payment streams from the Malaysian government in the form of availability charges (AC) to meet the financial […]

MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) sukuk programmes with a stable outlook. The list of sukuk programmes is appended at the end of this press announcement. The credit strength of the Malaysian government as the principal lessee of government buildings in Putrajaya under individual long-term lease-and-sublease agreements with PJH

MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk issuances 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 Islamic’s FI ratings are

MARC Ratings has affirmed its long- and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group). The rating agency has concurrently affirmed its AA rating on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. CIMB Group is Malaysia’s second-largest banking group with total

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. The affirmation reflects the bank’s high systemic importance as the second-largest bank by assets

MARC Ratings has affirmed its A+IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM172.3 million Green Sustainable and Responsible Investment (SRI) Sukuk. The outlook has been revised to stable from positive. UiTM Solar is a project company incorporated to develop a 50MWac solar power plant in Gambang, Pahang. The affirmed rating is

MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM300 million Islamic Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed its existing MARC-1IS rating on the group’s RM150 million ICP programme which will expire on November 8, 2024. The new programme will replace the existing programme on expiry.

MARC Ratings has affirmed its rating of AAIS(CG) on special purpose funding vehicle VS Capital Management Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion. The rating outlook is stable. The rating reflects the credit strength of parent VS Industry Berhad (VSI) which has provided an unconditional and irrevocable guarantee on the

MARC Ratings has affirmed its AA-IS rating on SHC Capital Sdn Bhd’s RM80 million issuance under its RM200 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. SHC Capital is a wholly-owned funding vehicle of Tunas Cool Energy Sdn Bhd (TUNAS), a subsidiary of Sin Heng Chan (Malaya) Berhad. TUNAS owns a district

MARC Ratings has affirmed its ratings on port operator Johor Port Berhad’s (JPB) Islamic Commercial Papers Programme and Islamic Medium-Term Notes (IMTN) Programme at MARC-1IS and AA-IS, and revised the outlook on the long-term rating to positive from stable. The programmes have a combined aggregate limit of RM1.0 billion and the current outstanding comprising entirely