Ratings

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. The …

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

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

MARC Ratings affirms Johor Port Berhad’s ratings at MARC-1_IS/AA-_IS Read More »

MARC Ratings has affirmed its AA-IS/Stable rating on Zetrix AI Berhad’s Islamic Medium-Term Notes (IMTN) Programme, which has been upsized to RM2.0 billion from RM1.0 billion. The rating reflects Zetrix AI’s strong non-concession revenue, high operating margins, and healthy cash flow generation. These strengths are tempered by growth challenges for its blockchain platform, rising debt …

MARC Ratings affirms Zetrix AI’s AA-_IS rating Read More »

MARC Ratings notes the recent fire incident at Tanjung Bin Energy Sdn Bhd (TBE), one of Malakoff Corporation Berhad’s (Malakoff) independent power producers, which has resulted in the plant’s full shutdown to allow for investigation and rectification. The extent of the loss and the restart timeline have yet to be determined. The rating agency is …

MARC Ratings issues update on Malakoff Power’s ratings Read More »

MARC Ratings has upgraded MBSB Bank Berhad’s Structured Covered Sukuk Murabahah Tranche 4 rating to AAAIS from AA+IS, with a stable outlook. The rating upgrade reflects Tranche 4’s full cash collateralisation. As of end-June 2025, RM293.2 million was held in the designated account to cover RM285.0 million in outstanding obligations, representing 102.9% overcollateralisation. MBSB Bank …

MARC Ratings upgrades MBSB Bank’s Structured Covered Sukuk Murabahah Tranche 4 rating to AAA_IS Read More »

MARC Ratings has assigned a preliminary rating of MARC-1IS to Khazanah Nasional Berhad’s (Khazanah) proposed Islamic Commercial Papers (ICP) Programme of up to RM1.0 billion in nominal value. The rating is based on the rating agency’s assessment of Khazanah’s corporate credit rating at AAA/Stable. The rating reflects Khazanah’s status as a government-related entity established to …

MARC Ratings assigns preliminary rating of MARC-1_IS to Khazanah’s proposed RM1.0 billion ICP Programme Read More »

MARC Ratings has affirmed its AA-IS rating on Orkim Berhad’s Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion and revised the outlook to positive from stable. The outlook revision is premised on the company’s proposed initial public offering (IPO), which will result in Permodalan Nasional Berhad (PNB) and Unit Trust Funds under its …

MARC Ratings revises Orkim’s rating outlook to positive Read More »

MARC Ratings has affirmed Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme rating at AAIS. The rating outlook remains stable. The rating continues to be supported by Evyap Malaysia’s vertically integrated and sizeable oleochemical operations, diversified customer base, and healthy operating performance. These strengths are moderated by exposure to feedstock price …

MARC Ratings affirms Evyap Malaysia’s rating of AA_IS Read More »

MARC Ratings has affirmed its ratings on Cagamas Berhad’s bond and sukuk issuances as follows: AAA/AAAIS on Conventional and Islamic Medium-Term Notes (MTN/IMTN) Programmes of up to RM80.0 billion MARC-1/MARC-1IS on Conventional and Islamic Commercial Papers (CP/ICP) Programmes with a combined aggregate limit of RM20.0 billion AAA/AAAIS on Conventional and Islamic Medium-Term Notes (MTN/IMTN) Programmes …

MARC Ratings affirms Cagamas’ ratings with stable outlook Read More »

MARC Ratings has affirmed its AAAIS rating on Pengerang LNG (Two) Sdn Bhd’s (PLNG2) Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion. The rating outlook is stable. PLNG2, 65%-owned by PETRONAS Gas Berhad, owns a regasification terminal with a capacity of 3.5 million tonnes per annum and has been supplying natural gas to …

MARC Ratings affirms PLNG2’s AAA_IS rating Read More »