Rating

Posted Date: July 01, 2020 MARC has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) issuances under the following programmes: RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS / stable; RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS / stable; and RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033) at […]

Posted Date: July 01, 2020 MARC has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. PBSB was established as a funding vehicle for its parent Putrajaya Holdings Sdn Bhd (PJH) (AAA/Stable) to undertake the development of nine blocks of government

Posted Date: June 29, 2020 MARC has assigned a final rating of AA-IS to Leader Energy Sdn Bhd’s (Leader Energy) proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM260.0 million. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that

Posted Date: June 19, 2020 MARC has affirmed its financial institution (FI) ratings of AAA/MARC-1 on Islamic Development Bank (IsDB), as well as its rating of AAAIS on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The outlook on the ratings is stable. The

Posted Date: June 19, 2020 MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million. The rating outlook is stable. SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd, which holds an 80% interest in Ranhill SAJ Sdn Bhd (RSAJ), the sole water treatment operator and treated

MARC has assigned preliminary ratings of AAAIS/MARC-1IS to Gas Malaysia Distribution Sdn Bhd’s (GMD) proposed Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion. The ratings outlook is stable. GMD is a wholly-owned subsidiary of Gas Malaysia Berhad and was established under a group-wide

Posted Date: June 17, 2020 MARC has withdrawn its ratings of MARC-1/AA- on Murud Capital Sdn Bhd’s Senior Commercial Papers/Medium-Term Notes (Senior CP/MTN) programme of up to RM290 million. The rating withdrawal follows the full redemption of the outstanding RM244 million Senior CP and subsequent cancellation of the programme. Upon the withdrawal, MARC will no

MARC has assigned a preliminary rating of AA-IS to Malaysian Resources Corporation Berhad’s (MRCB) proposed Islamic Medium-Term Notes Programme of up to RM5.0 billion (Sukuk Murabahah) with a stable outlook. The assigned rating incorporates MRCB’s established market position in property development, particularly in transit-oriented developments (TOD), that has benefitted from the support extended by its

Posted Date: June 15, 2020 MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (SPG) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. SPG is a 51:49 joint venture between Tenaga Nasional Bhd (TNB) and SIPP Energy Sdn Bhd (SIPP) and was established to develop a 2×720-megawatt (MW) combined-cycle

Posted Date: June 12, 2020 MARC has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme. The affirmed rating incorporates BDB’s status as a Kedah state-owned entity that has benefitted from state support in securing contracts for its road building division and facilitating land acquisition for