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Posted Date: October 8, 2020 MARC is issuing this update on the potential rating impact on UEM Sunrise Berhad in light of the proposed merger with Eco World Development Group Berhad (Eco World). UEM Sunrise currently carries MARC-1IS / AA-IS ratings with a stable outlook from MARC for the property developer’s two Islamic Commercial Papers …
Posted Date:October 7, 2020 MARC has assigned a preliminary rating of A+IS to Sunsuria Berhad’s proposed RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable. Sunsuria is a mid-size property developer whose main development is the 375-acre Sunsuria City township in Salak Tinggi, Selangor. Sunsuria remains focused on property development projects within the Klang …
Posted Date: October 6, 2020 MARC has affirmed its AA-IS rating on Malaysia Marine and Heavy Engineering Holdings Berhad’s (MHB) RM1.0 billion Sukuk Murabahah Programme with a stable outlook. MHB’s strong competitive advantage as the largest domestic offshore fabricator, its conservative balance sheet and strong liquidity position are key rating drivers. The rating also incorporates …
MARC affirms AA-IS rating on Malaysia Marine and Heavy Engineering Read More »
Posted Date: October 6, 2020 MARC has maintained its rating of CIS on Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 5, 2020. Under the restructuring exercise undertaken by Talam in March 2019, the maturity date of the Settlement BaIDs was extended by 18 months …
MARC maintains Talam Transform’s settlement Baids’ rating at CIS Read More »
Posted Date: October 6, 2020 MARC has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) RM120.0 million Fixed Rate Serial Bonds. The rating outlook remains negative. The rating outlook was revised to negative last year over its reduced cash buffer due to a higher tax liability arising from underpayments in prior years totalling …
MARC affirms AA- rating on Central Impression’s RM120.0 million Fixed Rate Serial Bonds Read More »
Posted Date: October 6, 2020 MARC has affirmed its insurer financial strength rating of AA+ with a stable outlook on International General Insurance Co Ltd (IGI). The affirmed rating is mainly driven by IGI’s well-diversified underwriting portfolio across business lines and geographies as well as its strong capitalisation level to support growth. These strengths are …
MARC affirms AA+ rating on International General Insurance Read More »
Posted Date: October 6, 2020 MARC has assigned a preliminary rating of AA-IS with a stable outlook to Guan Chong Berhad’s (GCB) proposed Sukuk Wakalah Programme of up to RM800.0 million. The proposed rating incorporates GCB’s strong market position in the midstream cocoa industry, established operational track record and healthy debt coverage metrics. The rating …
MARC assigns AA-IS rating to Guan Chong Berhad’s proposed Sukuk programme Read More »
Posted Date : October 5, 2020 MARC has assigned a final rating of AAAIS to Pengerang LNG (Two) Sdn Bhd’s (PLNG2) proposed Islamic Medium-Term Notes (IMTN) programme of up to RM3.0 billion. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and …
MARC assigns final rating of AAAIS to PLNG2’s proposed Islamic MTN programme Read More »
Posted Date: October 1, 2020 MARC has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds (Junior Bonds). The three-notch rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordination to the Senior Sukuk …
Posted Date: October 1, 2020 MARC has assigned its rating of AAAIS to Bank Pembangunan Malaysia Berhad’s (Bank Pembangunan) RM5.0 billion Islamic Medium-Term Notes Programme. Concurrently, the rating agency has affirmed Bank Pembangunan’s financial institution (FI) rating at AAA. The ratings carry a stable outlook. Bank Pembangunan’s status as a wholly government-owned development financial institution …