Ratings

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 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 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 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

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 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 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 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 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 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