Ratings

MARC Ratings withdraws rating on MBSB Bank’s Tranche 2 Structured Covered Sukuk Murabahah

MARC Ratings has withdrawn its rating of AAAIS on MBSB Bank Berhad’s Tranche 2 under the RM2.295 billion Structured Covered Sukuk Murabahah facility. The rating withdrawal follows the full redemption of the outstanding amount of RM55.0 million on December 10, 2024, as confirmed by the facility agent. MARC Ratings’ analytical coverage on the Structured Covered …

MARC Ratings withdraws rating on MBSB Bank’s Tranche 2 Structured Covered Sukuk Murabahah Read More »

MARC Ratings affirms Sunway Healthcare Treasury’s rating

MARC Ratings has affirmed its rating of AAIS(cg) on Sunway Healthcare Treasury Sdn Bhd’s (SH Treasury) Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM5.0 billion. The rating outlook is stable. The rating reflects the credit strength of parent Sunway Healthcare Holdings Sdn Bhd (SHH), based on SHH’s unconditional and irrevocable guarantee on the …

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MARC Ratings affirms AA+IS rating on Sime Darby Property’s Sukuk Musharakah Programme

MARC Ratings has affirmed its rating on Sime Darby Property Berhad’s (SD Property) RM4.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) at AA+IS with a stable outlook. The outstanding under the rated programme stood at RM1.4 billion as at November 30, 2024. The rating continues to reflect SD Property’s strong sales track record from …

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MARC Ratings upgrades UEM Edgenta’s sukuk rating to AAIS

MARC Ratings has upgraded its rating on UEM Edgenta Berhad’s Islamic Medium-Term Notes (IMTN) under its RM1.0 billion Sukuk Murabahah Programme to AAIS from AA-IS. Accordingly, the rating outlook has been revised to stable from positive. The outstanding sukuk remains at RM250.0 million. The rating upgrade is premised on UEM Edgenta’s strengthened business profile underpinned …

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MARC Ratings affirms AAA rating on Credit Guarantee Corporation Malaysia

MARC Ratings has affirmed its financial institution rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating reflects MARC Ratings’ assessment of very high governmental support to CGC based on CGC’s policy role in supporting micro, small and medium-sized enterprises (MSMEs) in the country, and Bank Negara Malaysia’s (BNM) …

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MARC Ratings affirms FGV’s rating of AA-IS with stable outlook

MARC Ratings has affirmed its rating of AA-IS on FGV Holdings Berhad’s (FGV) Sukuk Murabahah Programme of up to RM3.0 billion with a stable outlook. FGV’s sizeable and integrated palm oil operations, improving production metrics on accelerated replanting efforts at its estates, and healthy balance sheet are key drivers of the rating affirmation. Moderating rating …

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MARC Ratings affirms ratings of MARC-1IS/AA-IS on UDA’s ICP/IMTN Programmes of up to RM1.0 billion

MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UDA Holdings Berhad’s (UDA) Islamic Commercial Papers (ICP) Programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion with a combined aggregate limit of up to RM1.0 billion. The long-term rating outlook is stable. The ratings incorporate MARC Ratings’ …

MARC Ratings affirms ratings of MARC-1IS/AA-IS on UDA’s ICP/IMTN Programmes of up to RM1.0 billion Read More »

MARC Ratings extends MARCWatch Developing on KFH Malaysia

MARC Ratings has extended its MARCWatch Developing placement on Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) financial institution ratings, where they have been since August 1, 2024. The placement 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 …

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