Ratings

MARC Ratings issues update on MYEG

MARC Ratings is providing this update on MY E.G. Services Berhad (MYEG) following a news report that immigration-related services and processes will be directly undertaken in-house by Jabatan Imigresen Malaysia from 2025 onwards. Furthermore, changes to road tax and driving license requirements under the digitalisation process of Jabatan Pengangkutan Jalan have now been announced. As …

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MARC Ratings withdraws TSH Sukuk Murabahah’s RM50 million ICP rating

MARC Ratings has withdrawn its MARC-1IS rating on TSH Sukuk Murabahah Sdn Bhd’s RM50 million Islamic Commercial Papers (ICP) Programme. The rating withdrawal follows the termination of the programme upon expiry as confirmed by the facility agent on February 3, 2023. The analytical coverage on TSH Sukuk Murabahah is now limited to its RM150 million …

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MARC Ratings assigns preliminary ratings of AIS(cg)/MARC-1IS(cg) to SkyWorld Capital’s proposed RM300 million IMTN/CP programmes

MARC Ratings has assigned preliminary ratings of AIS(cg)/MARC-1IS(cg) to SkyWorld Capital Berhad’s proposed RM300.0 million Islamic Medium-Term Notes/Commercial Papers programmes with a stable outlook. SkyWorld Capital is the funding vehicle of parent SkyWorld Development Bhd (SkyWorld) to undertake the sukuk issuance. SkyWorld has extended an irrevocable and unconditional guarantee on the programme. The assigned ratings …

MARC Ratings assigns preliminary ratings of AIS(cg)/MARC-1IS(cg) to SkyWorld Capital’s proposed RM300 million IMTN/CP programmes Read More »

MARC Ratings assigns final ratings of AA/MARC-1 to Pac Lease’s RM1.5 billion Programme

MARC Ratings has assigned final ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes and Commercial Papers programme with a combined aggregate limit of RM1.5 billion. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any …

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MARC Ratings assigns final rating of AA-(cg) to Chailease Berjaya’s RM1.0 billion MTN Programme

MARC Ratings has assigned a final rating of AA-(cg) to Chailease Berjaya Credit Sdn Bhd’s (CBC) Medium-Term Notes (MTN) Programme of up to RM1.0 billion. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited. The rating agency has reviewed the final documentation …

MARC Ratings assigns final rating of AA-(cg) to Chailease Berjaya’s RM1.0 billion MTN Programme Read More »

MARC Ratings withdraws rating on PLUS’ RM23.35 billion Sukuk Programme on completed exchange

MARC Ratings has withdrawn its rating of AAAIS on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme (Sukuk Programme). The rating action follows the completed exchange — on like-for-like terms — of the outstanding RM17.2 billion under the Sukuk Programme on December 23, 2022, with notes issued under PLUS’ new Islamic Medium-Term Notes …

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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 RM800.0 million as of November 30, 2022. SD Property’s continued strong sales track record in its well-established townships, and …

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MARC Ratings assigns preliminary ratings of AA/MARC-1 to Pac Lease’s RM1.5 billion programme

MARC Ratings has assigned preliminary ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes (MTN) and Commercial Papers (CP) programme with a combined aggregate limit of RM1.5 billion. The ratings outlook is stable. The assigned ratings factor in the lengthy track record and market position of Pac Lease in the domestic industrial hire purchase sector, …

MARC Ratings assigns preliminary ratings of AA/MARC-1 to Pac Lease’s RM1.5 billion programme Read More »

MARC Ratings affirms AA+IS rating on Celcom Networks’ Sukuk Murabahah Programme

MARC Ratings has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. As at end-October 2022, the outstanding amount stood at RM1.15 billion. In assessing CNSB, MARC Ratings has considered the overall credit profile of the Celcom Axiata Berhad (Celcom) group, premised on the strong …

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