Ratings

MARC Ratings has affirmed its ratings on DRB-HICOM Berhad’s RM3.5 billion Sukuk Programme and RM2.0 billion Perpetual Sukuk Musharakah Programme at AA-IS and AIS. The outlook on the ratings is stable. The two-notch rating differential between the programmes reflects the subordination of the perpetual sukuk to the senior sukuk. The outstanding under the programmes stood […]

MARC Ratings has assigned a final rating of A+IS to Yinson Holdings Berhad’s (YHB) Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) Programme of up to RM2.0 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

MARC Ratings has maintained its MARCWatch Developing status on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia), under surveillance since 1 August 2024, after the bank’s decision to voluntarily exit the Malaysian market and wind down operations as part of parent KFH Group’s strategy to focus on the Middle East region. MARC Ratings considers KFH Malaysia

MARC Ratings has affirmed its rating of AA-IS on Penang Port Sdn Bhd’s (PPSB) Islamic Medium-Term Notes Issuance Programme of up to RM1.0 billion. The outlook on the rating is stable. PPSB’s position as the key trade gateway port in northern Peninsular Malaysia, handling both container and conventional cargo, as well as its ability to

MARC Ratings has withdrawn its rating of AAIS on Cellco Capital Berhad’s (Cellco) RM130 million Islamic Medium-Term Notes (Issue 2) under its Sukuk Ijarah Programmes of up to RM1.0 billion, following a request from the company, which is currently reassessing the overall structure and strategy for the issuance. There is no outstanding under Issue 2.

MARC Ratings has assigned a final rating of MARC-1IS to S P Setia Berhad’s RM500.0 million Islamic Commercial Papers (ICP) Programme. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary

MARC Ratings has affirmed its ratings of MARC-1IS/AAIS on Northport (Malaysia) Bhd’s RM1.0 billion Islamic Commercial Papers (ICP) Programme/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah Programmes). The ICP programme has a sublimit of RM500 million. The long-term rating outlook is stable. The current outstanding under the programme comprises RM500.0 million IMTN. Northport’s well-established operational

MARC Ratings has affirmed its financial institution rating on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) at AAA, and its ratings on the bank’s existing Islamic Medium-Term Notes/ Islamic Commercial Papers Programmes (with a combined limit of RM3.0 billion) at AAAIS/MARC-1IS. The outlook on the ratings is stable. The affirmation reflects SME Bank’s

MARC Ratings has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) Programme with a stable outlook. Currently, RM350.0 million is outstanding under the programme. ACSB is a funding vehicle for Ahmad Zaki Resources Berhad (AZRB). The proceeds of RM535.0 million from issuances under the programme have

MARC Ratings has affirmed MBSB Berhad’s A+/MARC-1 corporate credit ratings with a stable outlook. The ratings reflect MBSB’s role as a non-operating financial holding company whose credit profile mirrors that of its core, wholly-owned subsidiary, MBSB Bank Berhad (A+/Stable). With no borrowings, and earnings mainly coming from MBSB Bank’s dividends, MBSB’s performance is closely tied