Ratings

MARC Ratings has affirmed its AA-IS rating on SHC Capital Sdn Bhd’s RM80 million issuance under its RM200 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. There is no further drawdown expected, but any drawdown will require a reassessment of the rating. SHC Capital is a wholly-owned funding vehicle of Tunas Cool […]

MARC Ratings has affirmed its rating of AA-IS on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650 million with a stable outlook. SAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns an 80% stake in Ranhill SAJ Sdn Bhd. As the dividends from Ranhill SAJ form the source

MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable. The total outstanding amount under the programme stood at RM181.0 million as at end-August 2023. The rating affirmation incorporates Sunsuria’s property development approach, healthy overall take-up rates and low inventory level. The rating also

MARC Ratings has assigned a preliminary rating of AA-IS/Stable to OCK Group Berhad’s (OCK) proposed RM400 million Tranche 1 to be issued under a proposed RM700 million Sukuk Murabahah Programme. OCK is principally involved in telecommunication network services that comprise tower leasing, provision of full turnkey solutions, and managed services. The rating considers OCK’s stable

MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has also affirmed its ratings on CIMB Islamic’s sukuk issuances as follows: • RM10.0 billion Senior Sukuk Wakalah programme (Sukuk Wakalah) at AAAIS/Stable • RM5.0 billion Tier 2 Junior Sukuk programme at AA+IS/Stable CIMB Islamic’s

MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt programme. The ratings outlook is stable. CIMB Group is Malaysia’s second-largest banking group with total assets of RM720.3

MARC Ratings has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1. Concurrently, the rating agency has also affirmed its rating of AA+ on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt programme. The ratings outlook is stable. CIMB Bank’s high systemic importance in the domestic banking industry, well-established

MARC Ratings has affirmed its ratings on Trusmadi Capital Sdn Bhd’s Issue 1 RM235 million Class A, RM40 million Class B and RM25 million Class C Medium-Term Notes (MTN) at AAA, AA and A. The rating agency has also affirmed its MARC-1 rating on Trusmadi Capital’s Issue 1 RM300 million Commercial Papers (CP). The MTN

MARC Ratings has affirmed its rating of A+IS on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment Sukuk of RM182.3 million and revised the outlook to positive from stable. The outlook revision reflects the improved operational performance of UiTM Solar’s 50MWac solar photovoltaic plant in Gambang, Kuantan, that is in

MARC Ratings has placed its ratings on UMW Holdings Berhad’s (UMW) sukuk programmes on MARCWatch Developing. The rating action has been triggered by the proposed sale of Permodalan Nasional Berhad’s (PNB) 61.18% equity stake in UMW to Sime Darby Enterprise Sdn Bhd (SDESB) for a total cash consideration of about RM3.57 billion. The rating agency