Rating

Posted Date: January 8, 2021 MARC has affirmed its MARC-1IS / AA-IS ratings on UEM Sunrise Berhad’s two Islamic Commercial Papers and Islamic Medium-Term Notes programmes (ICP/IMTN-1 and ICP/IMTN-2) with a stable outlook. Each of the ICP/IMTN programmes has a limit of RM2.0 billion with a sublimit of RM500.0 million on the ICP issuances. The affirmed …

MARC affirms MARC-1_IS/AA-_IS ratings on UEM Sunrise’s ICP/IMTN programmes Read More »

Posted Date: January 8, 2021 MARC has withdrawn its ratings of MARC-1/AA- on Sunway Berhad’s RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) programme. The rating withdrawal follows completion of the refinancing exercise and full redemption of the programme upon its expiry on November 27, 2020. The programme was refinanced with a new equivalent CP/MTN programme issued …

MARC withdraws ratings on Sunway’s RM2.0 billion CP/MTN programme upon expiry Read More »

Posted Date: January 8, 2021 MARC has withdrawn its rating of AAA on Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows completion of the refinancing exercise and full redemption of the outstanding RM200.0 million Senior Class A MTN. MARC’s analytical coverage …

MARC withdraws rating on Special Coral’s RM250 million Senior Class A MTN Read More »

Posted Date: January 5, 2021 MARC has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s (Cerah Sama) RM420.0 million sukuk with a stable outlook. Cerah Sama is the investment holding company of Grand Saga Sdn Bhd, the concessionaire of the 11.5-km Cheras-Kajang Highway. The rating affirmation reflects the company’s (1) resilient cash flows and …

MARC affirms AA-_IS rating on Cerah Sama’s RM420 million sukuk Read More »

Posted Date: January 5, 2021 MARC has received confirmation that Sistem Penyuraian Trafik KL Barat’s (SPRINT) RM510.0 million Al-Bithaman Ajil Islamic Debt Securities (BaIDS) have been fully redeemed and cancelled on December 29, 2020. Accordingly, MARC has withdrawn its A+IS/Developing rating and will no longer provide analytical coverage on the issuer. Contacts:Ati Affira Kholid, 03-2717 …

MARC withdraws SPRINT’s issue rating following full redemption Read More »

Posted Date: December 29, 2020 MARC has affirmed its AAIS rating on ANIH Berhad’s RM2.5 billion Senior Sukuk Musharakah Programme with a stable outlook. ANIH is the concessionaire of Kuala Lumpur-Karak Highway (KL-Karak) and Phase 1 of East Coast Expressway (ECE1) until 2032. The affirmed rating reflects ANIH’s healthy cash flow generation and adequate debt …

MARC affirms AAIS rating on ANIH’S RM2.5 billion Senior Sukuk Musharakah Programme Read More »

Posted Date: December 24, 2020 MARC has affirmed its investment manager rating (IMR) of IMR-2 on Kenanga Investors Berhad (KIB) and KIB’s wholly-owned subsidiary Kenanga Islamic Investors Berhad (KIIB). The IMR rating on KIB reflects the fund management company’s well-established investment processes and sound risk management practices. These factors are moderated by KIB’s modest assets …

MARC affirms investment manager rating of IMR-2 on Kenanga Investors and Kenanga Islamic Investors Read More »

Posted Date: December 24, 2020 MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and sukuk rating of AAAIS on TNB’s RM2.0 billion Al-Bai’ Bithaman Ajil Islamic Financing Bonds (sukuk). The ratings outlook is stable. The ratings incorporate a two-notch rating uplift based on MARC’s assessment of a high likelihood of government support …

MARC affirms Tenaga Nasional’s ratings at AAA with stable outlook Read More »

Posted Date: December 23, 2020 MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 with a stable outlook. The FI ratings are based on the national rating scale. KFH Malaysia’s long-term FI rating is anchored on the rating of its parent Kuwait Finance House KSC …

MARC affirms FI ratings on Kuwait Finance House (Malaysia) Read More »

Posted Date: December 23, 2020 MARC has affirmed its long-term and short-term financial institution (FI) ratings of A+/ MARC-1 on Kenanga Investment Bank Berhad (Kenanga). The ratings outlook is stable. Kenanga’s strong competitive position in the domestic stockbroking industry and its sound capital position are key rating drivers. The ratings also consider its moderate profitability …

MARC affirms Kenanga Investment Bank’s FI ratings at A+/MARC-1 Read More »