Rating

Posted Date: May 22, 2020 MARC has affirmed its ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM140.0 million outstanding Islamic Medium-Term Notes (IMTN) at AAIS and RM350.0 million outstanding guaranteed IMTN at AAAIS(fg). The ratings outlook is stable. RPII owns and operates the 190-MW combined-cycle gas turbine (CCGT) Rugading Power Station in Sabah under […]

Posted Date: May 22, 2020 MARC has placed MEX II Sdn Bhd’s ratings on MARCWatch Negative due to developments arising from the insufficient progress on the construction of the 16.8-km Lebuhraya Putrajaya-KLIA expressway (MEX Extension) to meet the project milestones since the ratings were downgraded last year. The delay has led to the concessionaire seeking

Published Date: May 21, 2020 MARC has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM). The long-term rating of CCBM is notched down from its parent China Construction Bank Corporation’s (CCB) public information rating of AAA from MARC. The outlook on all ratings is stable.

Posted Date: May 19, 2020 MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd’s (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook.   KPSB owns and operates a 285-megawatt (MW) combined-cycle gas-fired power plant in Kimanis Bay, Sabah. The rating affirmation reflects the favourable power purchase agreement (PPA) that allocates demand

Posted Date: May 14, 2020 MARC has assigned a preliminary 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. Leader Energy owns two solar power projects in Kuala Muda, Kedah, namely Leader Solar Energy

Posted Date: May 12, 2020 MARC has assigned a preliminary rating of AA-IS to port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) proposed RM1.9 billion Islamic Medium Term Notes (Sukuk Murabahah Programme). The rating outlook is stable. The rating reflects PTP’s strong market position as a key transhipment port in the region, its ability to

Posted Date: May 8, 2020 MARC has affirmed its A+IS rating on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) Green Sustainable and Responsible Investment (SRI) Sukuk rating of up to RM1.0 billion. The rating outlook has been revised to positive from stable. The affirmed rating incorporates the mitigation of demand risk through the 21-year

Posted Date: May 5, 2020 MARC has assigned a final rating of A+IS to Tropicana Corporation Berhad’s (Tropicana) proposed RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) with a stable outlook. Upon review of the final documentation for the programme, MARC is satisfied that the terms and conditions have not changed in any material way

Posted Date: May 1, 2020 MARC has affirmed its AAAIS and AAA ratings on Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah issuances (CMBS 2005-1; CMBS 2007-1-i) and fixed rate serial bonds issuances (CMBS 2005-2; CMBS 2007-2). The outlook on all ratings are stable. Cagamas MBS is a wholly-owned special purpose vehicle of Cagamas Holdings

Posted Date: April 30, 2020 MARC affirms its BBB-IS rating on Senai-Desaru Expressway Berhad’s (SDEB) RM1.89 billion Islamic Medium-Term Notes (Restructured Sukuk) Programme with a stable outlook. SDEB is the concessionaire of the 77-km tolled inter-urban Senai-Desaru Expressway (SDE) in Johor, which links the towns of Senai and Desaru with a connecting highway to Pasir