Ratings

MARC Ratings has affirmed its financial institution (FI) rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating is driven by CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support provided by the government through Bank Negara Malaysia (BNM), its …

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia Read More »

MARC Ratings has affirmed its financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with a stable outlook. Kenanga’s strong market position and lengthy experience in the stockbroking industry remain key rating drivers. Apart from stockbroking, the rating also considers the bank’s improving position in investment and wealth management, and its consistently …

MARC Ratings affirms FI rating of AAA on Credit Guarantee Corporation Malaysia Read More »

MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and concurrently affirmed its A+IS rating on MBSB Bank’s RM5.0 billion Sukuk Wakalah programme. The ratings outlook is stable. MBSB Bank’s sound capitalisation levels and strong support from its ultimate shareholder Employees Provident Fund (EPF) remain key rating drivers. The …

MARC Ratings affirms MBSB Bank’s financial institution rating with stable outlook Read More »

MARC Ratings has assigned a preliminary rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) proposed RM300.0 million Medium-Term Notes (MTN) Programme. The rating incorporates Singer’s long and profitable track record in selling and financing consumer durables and motorcycles, underpinned by strong operating profit margins. Moderating factors are intense competition particularly …

MARC Ratings assigns preliminary rating of A to Singer’s RM300.0 million MTN Programme Read More »

MARC Ratings has withdrawn its rating of AAAIS/Stable on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) following the full settlement of the final tranche of the BaIDS (Tranche 6 of RM50.0 million) on December 2, 2022. Accordingly, MARC Ratings will no longer provide analytical coverage …

MARC Ratings withdraws rating on GDC Putrajaya’s Islamic Debt Securities on full redemption Read More »

MARC Ratings has removed UiTM Solar Power Sdn Bhd’s rating from MARCWatch Negative placement and concurrently lowered the rating to A+IS from the AA-IS prior to the MARCWatch placement. The rating outlook is negative. The current outstanding is RM192.3 million Green SRI Sukuk. The rating removal from MARCWatch placement follows moderating concerns on UiTM Solar’s …

MARC Ratings removes UiTM Solar’s rating from MARCWatch Negative and lowers rating Read More »

MARC Ratings has affirmed its rating of A+IS on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes (IMTN) Programme of up to RM700 million (Sukuk Wakalah) with a stable outlook. YNH’s established track record in the domestic property industry and low land cost that provides for healthy profitability margins remain key rating drivers. The high market …

MARC Ratings affirms A+_IS rating on YNH’s RM700 million IMTN Programme Read More »

MARC Ratings has affirmed its ratings of AAA, AA, A and MARC-1 on Trusmadi Capital Sdn Bhd’s Issue 1 of RM235 million Class A, RM40 million Class B, and RM25 million Class C Medium-Term Notes (MTN) as well as RM300 million Commercial Papers (CP). The rated MTN and/or CP issuances are subject to a combined …

MARC Ratings affirms ratings on Trusmadi Capital’s Issue 1 MTN and CP Read More »

MARC Ratings has assigned a preliminary rating of AAAIS(s) to Projek Lebuhraya Usahasama Berhad’s (PLUS) proposed Islamic Medium-Term Notes Programme (IMTN) of up to RM25.2 billion. The rating agency has concurrently affirmed its AAAIS rating on the outstanding RM17.2 billion under PLUS’ existing Sukuk Musharakah programme. All ratings carry a stable outlook. Of the proposed …

MARC Ratings assigns preliminary rating of AAA_IS(s) to PLUS’ proposed RM25.2 billion IMTN Programme Read More »

In the previous rating update issued on October 11, 2022, MARC Ratings indicated its ongoing concerns on UiTM Solar Power Sdn Bhd that despite the full resumption of operations of its 50MWac solar power plant in Gambang, Pahang in August 2022, the company is reliant on insurance proceeds and/or third-party guarantees to meet future financial …

MARC Ratings issues update on UiTM Solar’s RM192.3 million green SRI sukuk Read More »