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MARC Ratings has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) RM800.0 million Sukuk Wakalah Programme. The rating outlook remains negative. The negative rating outlook primarily reflects the continued high and volatile cocoa bean price environment that has led to a sizeable increase in GCB’s working capital requirements. The rating agency would revise …
MARC Ratings maintains Guan Chong’s outlook at negative Read More »
MARC Ratings has withdrawn its AAIS rating on Kimanis Power Sdn Bhd’s RM1.16 billion Sukuk Programme. The rating withdrawal follows the full redemption of the outstanding RM330.0 million under the programme and the subsequent cancellation of the programme, as confirmed by the facility agent on October 9, 2024. Accordingly, MARC Ratings will no longer provide …
MARC Ratings withdraws rating on Kimanis Power’s Sukuk Read More »
MARC Ratings has affirmed its rating of A+IS on JB Cocoa Sdn Bhd’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook remains negative. JB Cocoa is a wholly-owned key manufacturing subsidiary of Singapore-based JB Foods Limited, which has provided a corporate guarantee on the programme. Accordingly, the rating assessment considers the consolidated …
MARC Ratings maintains JB Cocoa’s outlook at negative Read More »
MARC Ratings has affirmed its ratings of AAIS /AA on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and irrevocable guarantee …
MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings Read More »
MARC Ratings has affirmed its ratings of MARC-1IS /AIS on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The long-term rating outlook is stable. As of end-September 2024, GBG had an outstanding RM53.0 million IMTN and RM74.0 million ICP under the rated programme. The long-term rating mainly incorporates GBG’s …
MARC Ratings affirms MARC-1IS/AIS ratings on Gabungan AQRS’ ICP/IMTN Programme Read More »
MARC Ratings has affirmed its non-bank financial institution rating of AA/Stable on CGS International Securities Malaysia Sdn Bhd (CGS MY) and the MARC-1 rating on CGS MY’s Commercial Papers Programme of up to RM1.0 billion in nominal value. The ratings reflect CGS MY’s growing business profile in the domestic stockbroking industry. CGS MY has been …
MARC Ratings has lowered its rating on Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme to AIS from A+IS. The rating outlook is negative. The rating action reflects the negative impact on TCMH’s credit profile from declining vehicle sales over the years, resulting in reduced domestic market share to …
MARC Ratings downgrades Tan Chong Motor’s IMTN rating to AIS Read More »
MARC Ratings has assigned a final rating of AA-IS to Power Root Berhad’s RM500.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme. 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 material way from the draft …
MARC Ratings has assigned preliminary ratings of AA-IS and MARC-1IS to SIBS Sdn Bhd’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM500.0 million, with a combined aggregate limit of up to RM3.0 billion. The rating outlook is stable. The assigned ratings incorporate …
MARC Ratings has affirmed its AA+IS rating on EDOTCO Malaysia Sdn Bhd’s RM3.0 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah Programme) with a stable outlook. The rating reflects EDOTCO Malaysia and its subsidiaries’ (EDOTCO Malaysia group) leading market position in the growing domestic telecommunication (telco) tower industry, the underlying stability of its business model that …
MARC Ratings affirms EDOTCO Malaysia’s AA+IS rating Read More »