Rating

Posted Date: March 13, 2020 MARC has affirmed its AA-IS rating on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. The affirmed rating remains driven by MMC’s significant strength in ports and logistics, engineering, and utilities operations that continue to be steadily strengthened. Underpinned by long-term concessions (ports and utilities) …

MARC affirms AA-_IS rating on MMC’s RM2.5 billion Sukuk Read More »

Posted Date: March 11, 2020 MARC has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420 million sukuk. The rating outlook is stable. 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 (1) Cerah Sama’s resilient cash flows and revenue, …

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

Posted Date: March 10, 2020 MARC has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) RM5.4 billion Sukuk Murabahah with a stable outlook. MPower is the operations and maintenance (O&M) operator of its parent company Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic power plants. The rating considers the consolidated credit profile of MPower and Malakoff, …

MARC affirms AA-_IS rating on Malakoff Power’s RM5.4 billion Sukuk Murabahah Read More »

Posted Date: March 06, 2020 MARC has affirmed its financial institution (FI) rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating is driven by CGC’s status as a development financial institution (DFI) for which the government through Bank Negara Malaysia (BNM), CGC’s main shareholder, has continued to provide …

MARC affirms FI rating of AAA on Credit Guarantee Corporation Malaysia Read More »

Posted Date: March 05, 2020 MARC has affirmed the financial institution (FI) rating of AAA on The Export-Import Bank of Korea (KEXIM) and the issue rating of AAA on its Medium-Term Notes programme of RM1.0 billion. The FI and issue ratings are based on the domestic rating scale. The ratings outlook is stable. The FI …

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

Posted Date: March 05, 2020 MARC has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook is stable. Fortune Premiere is a funding vehicle for its parent IOI Properties Group Berhad (IOI Properties) which has provided an unconditional and irrevocable corporate guarantee on …

MARC affirms AAIS rating on Fortune Premiere’s RM3.0 billion Sukuk Murabahah Read More »

Posted Date: March 02, 2020 MARC has assigned ratings of AAA, AA and B- to 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 carry a stable outlook. Proceeds from the …

MARC assigns ratings to Special Coral’s Senior and Subordinated Class MTN Read More »

Posted Date: February 25, 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 Bonds. The outlook on the ratings is stable. The ratings continue to incorporate a two-notch uplift from TNB’s standalone corporate credit rating of AA to reflect MARC’s …

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

Posted Date:February 21, 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, sound risk management practices and strong operating track record. These factors are moderated by …

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

Posted Date: February 20, 2020 MARC has assigned a final rating of AA-IS with a stable outlook to TG Excellence Berhad’s proposed RM3.0 billion Perpetual Sukuk Wakalah Programme. Upon review of the final documentation for the programme, MARC is satisfied that the terms and conditions have not changed in any material way from the draft …

MARC assigns final rating of AA-_IS to Top Glove Unit’s proposed RM3.0 billion Perpetual Sukuk Wakalah Programme Read More »