Rating

Posted Date: May 07, 2021 MARC wishes to inform that Sparks Energy 1 Sdn Bhd has faced delays in achieving commercial operation date (COD) of its 30MWac solar power plants in Kuala Muda, Kedah and Machang, Kelantan. The delays have been attributed to logistics issues as a result of movement restrictions in the country due …

MARC issues update on Sparks Energy 1’s RM220.0 million proposed ASEAN Green SRI Sukuk Read More »

Posted Date: May 6, 2021 MARC has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 with a stable outlook on China Construction Bank (Malaysia) Berhad. CCBM continues to be very well supported by parent China Construction Bank Corporation (CCB), which carries a public information rating of AAA/stable from MARC. This rating mainly …

MARC affirms China Construction Bank (Malaysia)’s ratings with stable outlook Read More »

Posted Date: May 04, 2021 MARC has assigned a preliminary rating of AAIS with a stable outlook to S P Setia Berhad’s proposed RM3.0 billion Islamic Medium-Term Notes Programme. Proceeds from the proposed issuance will largely be used to fund capital injection into the group’s joint-venture Battersea Power Station project (Battersea Project) and refinance earlier …

MARC assigns AAIS/stable rating to S P Setia’s proposed RM3.0 billion Islamic Medium-Term Notes Programme Read More »

Posted Date: May 3, 2021 MARC wishes to highlight that its ratings on MEX II Sdn Bhd’s (MEX II) RM1.3 billion Sukuk Murabahah Programme and RM150.0 million Junior Bonds have been maintained at CIS/C after the last downgrade on March 26, 2021 on heightened concerns of missing imminent profit payments. MEX II had sought an …

MARC provides update on MEX II Read More »

Posted Date: April 20, 2021 MARC has assigned a preliminary rating of AA- to 7-Eleven Malaysia Holdings Berhad’s (7-Eleven Holdings) proposed RM600.0 million Medium-Term Notes (MTN) Programme with a stable outlook. The assigned rating mainly reflects 7-Eleven Holdings’ strong and established market position in the convenience store segment, gained from a long operating track record …

MARC assigns AA-/stable rating to 7-Eleven Malaysia Holdings’ proposed RM600.0 million MTN Programme Read More »

Posted Date: April 19, 2021 MARC has affirmed its financial institution (FI) rating of AAA on The Export-Import Bank of Korea (KEXIM) and its issue rating of AAA on KEXIM’s Medium-Term Notes programme of RM1.0 billion. The FI and issue ratings are based on the domestic rating scale. The outlook on the ratings is stable. …

MARC affirms KEXIM’s ratings with a stable outlook Read More »

Posted Date: April 16, 2021 MARC has assigned a preliminary rating of AA-IS with a stable outlook to The Holstein Milk Company Sdn Bhd’s (THMC) proposed RM1.0 billion Sukuk Wakalah Programme. THMC is an integrated dairy farming player with operations ranging from cattle breeding and milk processing in Malaysia and Australia, to distribution of dairy …

MARC assigns preliminary rating of AA-_IS/stable to The Holstein Milk Company’s proposed RM1.0 billion Sukuk Wakalah Programme Read More »

Posted Date: April 9, 2021 MARC highlights that there is no impact on its rating of AA+IS /Stable on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme following the proposed merger between CNSB’s parent Celcom Axiata Berhad (Celcom) and Digi.com Berhad (Digi). CNSB provides network telecommunication services to the Celcom group; its rating …

No rating impact on Celcom’s sukuk from proposed merger with Digi Read More »

Posted Date: April 5, 2021 MARC has affirmed its BBB-IS rating on Senai-Desaru Expressway Berhad’s (SDEB) RM1.89 billion Islamic Medium-Term Notes Programme (Restructured Sukuk) and revised the outlook to negative from stable. The rating affirmation is based on SDEB’s adequate near-term liquidity and the Restructured Sukuk’s accommodative back-ended amortisation structure with a step-up profit feature …

MARC affirms Senai-Desaru Expressway’s BBB-IS rating; but revises outlook to negative Read More »

Posted Date: April 1, 2021 MARC has affirmed its ratings of AAA, AA and B- on special purpose vehicle Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings outlook is stable. …

MARC affirms ratings on Special Coral’s Senior and Subordinated Class MTN Read More »