Ratings

MARC Ratings has affirmed its short-term rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding under the programme stood at RM30.0 million as of November 15, 2022. The rating affirmation incorporates Titijaya’s track record in developing projects in and around matured areas which has afforded moderate-to-strong take-up …

MARC Ratings affirms MARC-2_IS rating on Titijaya’s ICP Programme Read More »

MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes Programme and RM1.5 billion Sukuk Murabahah (Sukuk) Programme at AA- and AA-IS. Concurrently, the rating agency has also affirmed WCT Holdings’ RM1.0 billion Perpetual Sukuk Musharakah Programme rating at AIS. All ratings carry a stable outlook. The affirmed ratings mainly reflect …

MARC Ratings affirms WCT Holdings’ ratings Read More »

MARC Ratings has assigned final ratings of MARC-1IS/AIS to Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from …

MARC Ratings assigns final ratings of MARC-1_IS/A_IS to GBG’s proposed RM200 million ICP/IMTN Programme Read More »

MARC Ratings has assigned preliminary ratings of MARC-1/MARC-1IS to Cagamas Berhad’s proposed Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion. The ratings outlook is stable. Cagamas’ status as the national mortgage corporation and its strategic role in the domestic financial system, underpinned by its strong capitalisation and healthy …

MARC Ratings assigns preliminary ratings of MARC-1/MARC-1_IS to Cagamas’ proposed CCP/ICP programmes with a combined aggregate limit of RM20 billion Read More »

MARC Ratings has assigned a final rating of AA-IS to MY E.G. Services Berhad’s (MYEG) proposed Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion. The rating carries a stable outlook. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in …

MARC Ratings assigns final rating of AA-_IS to MYEG’s proposed RM1.0 billion IMTN programme Read More »

MARC Ratings has affirmed its rating of A+IS on Tan Chong Motor Holdings Berhad’s (TCMH) outstanding RM300.0 million sukuk issuance under its RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating outlook is stable. The rating is confined to a RM500.0 million issuance limit and any further drawdown will require a reassessment of the …

MARC Ratings affirms A+_IS rating on Tan Chong Motor’s Sukuk Read More »

MARC Ratings has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) outstanding RM2.43 billion Sukuk Murabahah with a stable outlook. Wholly owned by Malakoff Corporation Berhad (Malakoff), MPower is the operations and maintenance (O&M) operator of independent power producers (IPPs) which are held through companies that are majority-owned by its parent. Given operational linkages …

MARC Ratings affirms AA-_IS rating on MPower’s Sukuk Read More »

MARC Ratings has affirmed its rating of AA-IS on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. Total outstanding under the programme stood at RM2.1 billion as of October 31, 2022. MMC’s significant and longstanding competitive strengths through subsidiaries and associates in the ports and logistics, engineering, and energy and …

MARC Ratings affirms AA-_IS rating on MMC’s RM2.5 billion Sukuk Programme Read More »

MARC Ratings has affirmed its rating of AAAIS 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. The affirmed rating reflects the sizeable and predictable revenue from PLNG2’s regasification services under the Incentive-Based Regulation (IBR) framework, and the mitigation of demand risk …

MARC Ratings affirms PLNG2’s rating with stable outlook Read More »

MARC Ratings has affirmed its AAIS rating on ANIH Berhad’s RM2.5 billion Senior Sukuk Musharakah Programme with a stable outlook. ANIH is the concessionaire of Kuala Lumpur-Karak Highway (KL-Karak) and Phase 1 of East Coast Expressway (ECE1) until 2032. The rating reflects the steady traffic on ANIH’s mature road network, providing strong cash flow generation …

MARC Ratings affirms ANIH’s AA_IS rating Read More »