Ratings

MARC Ratings has assigned a final rating of AAIS to Tadau Energy Sdn Bhd’s ASEAN Green Sustainable and Responsible Investment Sukuk Wakalah of up to RM215 million with 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 any […]

MARC Ratings has assigned preliminary ratings of MARC-1IS(cg)/AA-IS(cg) to Sunway Treasury Sukuk Sdn Bhd’s proposed RM3.0 billion Islamic Commercial Papers (ICP)/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Mudharabah Programme). The rating outlook is stable. Proceeds from issuances under the proposed programme will mainly be used to fund working capital and refinance existing debt and intercompany

MARC Ratings has affirmed its rating of AA-IS on Power Root Berhad’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. The affirmation reflects Power Root’s established position in the instant beverage sector, supported by an extensive sales network and stable financial performance, characterised by consistent cash flow and a healthy

MARC Ratings has assigned final ratings of AAAIS to SD Guthrie Berhad’s Senior Islamic Medium-Term Notes (Senior Sukuk Wakalah) and AAIS to the Subordinated Perpetual Islamic Notes (Perpetual Sukuk Wakalah) under a Sukuk Wakalah Programme with a combined limit of RM5.0 billion. The outlook on the ratings is stable. The rating agency has reviewed the

MARC Ratings has revised its outlook on cocoa grinder Guan Chong Berhad’s (GCB) sukuk programme rating to stable from negative. The rating remains at AA-IS. The outlook revision is premised on the prospect of a more accommodative cocoa bean price environment that would ease GCB’s working capital requirements, hence, leverage over the near-to-medium term. Cocoa

MARC Ratings has assigned a preliminary rating of A+IS to Yinson Holdings Berhad’s (YHB) proposed RM2.0 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah II) as well as affirmed its ratings of A+IS on the RM1.0 billion IMTN Programme (Sukuk Wakalah I) and A-IS on the RM1.0 billion Subordinated Perpetual Islamic Notes Programme (perpetual sukuk). The

MARC Ratings has affirmed Bank Pertanian Malaysia Berhad’s (Agrobank) financial institution rating at AAA and the bank’s Islamic Medium-Term Notes Programme rating at AAAIS. The ratings outlook is stable. The affirmation reflects MARC Ratings’ view of a very high likelihood of government support for the development financial institution, given the government’s full ownership and Agrobank’s

MARC Ratings has affirmed its AAAIS(s) rating on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM25.2 billion Islamic Medium-Term Notes Programme (sukuk programme) with a stable outlook. The rating incorporates a two-notch uplift from PLUS’ standalone rating, reflecting the government’s irrevocable and unconditional Letter of Undertaking (LoU) to cover any shortfall in the LoU finance service cover

MARC Ratings has assigned a final rating of AAAIS to PNB Merdeka Ventures Sdn. Berhad’s (PNBMV) Merdeka Sukuk Wakalah Programme of up to RM6.0 billion with 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 any material way

MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. TNB’s strong credit profile is underpinned by its monopoly over electricity transmission in Peninsular Malaysia and Sabah, as well as its status as the largest domestic electricity producer, distributor and retailer. A supportive Incentive-Based Regulation framework enables TNB