Ratings

MARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah programme of up to RM10.0 billion with a stable outlook. Wholly owned by Tenaga Nasional Berhad (TNB), TPGSB owns and manages 14 power plants, and manages three power plants for TNB with total capacity of 15,755MW as at end-September […]

MARC Ratings has affirmed its ratings on Berjaya Land Berhad’s (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad at AAA(bg). The ratings outlook is stable. Currently, there is an outstanding of RM225 million under the Danajamin-guaranteed programme. There

MARC Ratings has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). Concurrently, the rating agency has revised the rating outlook to stable from negative. Fortune Premiere is a funding vehicle for IOI Properties Group Berhad which has provided an unconditional and irrevocable guarantee on the

MARC Ratings has assigned a final rating of AAAIS(s) to Projek Lebuhraya Usahasama Berhad’s (PLUS) proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM25.2 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 has affirmed its ratings of MARC-1IS /AA-IS on UEM Edgenta Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) under the Sukuk Murabahah Programme of up to RM1.0 billion. The long-term rating carries a stable outlook. The outstanding sukuk stood at RM250.0 million as at end-November 2022. The rating affirmation reflects UEM

MARC Ratings has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding currently stands at RM330.0 million. The rating reflects the resilient traffic on the mature, 23-year-old Cheras-Kajang Highway and its stable cash flow generation. Cerah Sama’s strong liquidity position and accommodative sukuk repayment structure further

MARC Ratings has affirmed its ratings of MARC-1IS /AAIS on Cellco Capital Berhad’s (Cellco) RM520 million Issue 1 issued under its Islamic Commercial Papers/Islamic Medium-Term Notes (Sukuk Ijarah Programme) with a combined limit of up to RM1.0 billion. The ratings outlook is stable. Cellco is a special-purpose entity set up to raise funds via the

MARC Ratings has affirmed its AA-IS rating on MMC Port Holdings’ RM1.0 billion Sukuk Murabahah programme with a stable outlook. MMC Port is an investment holding company of port operators whose strong competitive advantage in transhipment services in the region and trade gateways domestically as well as long operating track record remain key rating drivers.

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 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