Rating

Posted Date: December 29, 2021 MARC has affirmed its AA+IS rating with a stable outlook on Sime Darby Property Berhad’s (SD Property) Islamic Medium-Term Notes Programme of RM4.5 billion under the Shariah principle of Musharakah. SD Property’s well-established position as a township developer and its strong sales track record in domestic property development remain key …

MARC affirms rating on Sime Darby Property’s Sukuk Musharakah Programme Read More »

Posted Date: December 27, 2021 MARC has assigned a preliminary rating of A+IS to Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating outlook is stable. The rating is confined to a RM500.0 million issuance and any further drawdown will require a reassessment of the rating. The assigned …

MARC assigns preliminary rating of A+_IS to Tan Chong Motor’s proposed issuance of RM1.5 billion Read More »

Posted Date: December 24, 2021 MARC has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. The outstanding currently stands at RM1.75 billion. CNSB provides network telecommunications services to its parent Celcom Axiata Berhad (Celcom) and fellow subsidiary Celcom Mobile Sdn Bhd. In assessing CNSB, …

MARC affirms AA+_IS rating on Celcom Networks’ Sukuk Murabahah Programme Read More »

Posted Date: December 24, 2021 MARC has affirmed its ratings of MARC-1IS /AA-IS on UEM Edgenta Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) under the Sukuk Murabahah Programme of up to RM1.0 billion. The ratings outlook is stable. The ratings are driven by UEM Edgenta’s established strong operating track record in healthcare …

MARC affirms ratings on UEM Edgenta’s RM1.0 billion Sukuk Murabahah Programme Read More »

Posted Date: December 22, 2021 MARC has affirmed its AA-IS rating on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. MMC’s significant competitive strengths in the ports and logistics, and engineering segments that have translated to strong earnings generation remain key rating drivers. The group’s performance is further supported by …

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

Posted Date: December 22, 2021 MARC has affirmed its ratings on Berjaya Land Berhad’s (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The ratings of AAA(fg) and AAA(bg) carry a stable outlook. The affirmed ratings reflect the …

MARC affirms Berjaya Land’s ratings with stable outlook Read More »

Posted Date: December 21, 2021 MARC has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.82 billion Sukuk Murabahah. The rating outlook is stable. The affirmed rating incorporates JEP’s predictable cash flows from its 2×1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). …

MARC affirms Jimah East Power’s Sukuk Murabahah rating at AA-_IS Read More »

Posted Date: December 21, 2021 MARC has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding currently stands at RM360.0 million. The affirmation reflects Cerah Sama’s resilient cash flows backed by steady traffic volumes on its mature, 22-year-old Cheras-Kajang Highway. Strong cash reserves and an accommodative …

MARC affirms AA-_IS rating on Cerah Sama’s Sukuk Read More »

Posted Date: December 21, 2021 MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme with a stable outlook. The outstanding currently stands at RM17.9 billion. The rating benefits from a two-notch uplift to PLUS’ standalone rating to reflect our view of strong government linkages exhibited in the interdependence between …

MARC affirms AAA_IS rating on PLUS’ RM23.35 billion Sukuk Musharakah Programme Read More »

Posted Date: December 16, 2021 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 has been revised to negative from stable. Fortune Premiere is a funding vehicle for parent IOI Properties Group Berhad which has extended an unconditional and irrevocable guarantee …

MARC revises Fortune Premiere’s rating outlook to negative Read More »