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Posted Date: February 14, 2020 MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. Northport operates North Port (main port) and Southpoint (focuses on short-sea trades) in Port Klang under long-term concessions expiring in November …
Posted Date: February 13, 2020 MARC has affirmed its AAAIS rating on MISC Berhad’s RM2.5 billion Islamic Medium-Term Notes (IMTN) programme with a stable outlook. The rating affirmation is driven by MISC’s position as a key global player in the energy-related shipping business with a large fleet of shipping vessels, its revenue-generating ability from long-term …
MARC affirms AAAIS rating on MISC’s Islamic MTN Programme of up to RM2.5 billion Read More »
Posted Date: February 03, 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. Currently, the sukuk programme has no outstanding amount. The rating incorporates a one-notch rating uplift based on MARC’s expectation of continued business support from its ultimate …
MARC affirms AA-IS rating on Malaysia Marine and Heavy Engineering with stable outlook Read More »
Posted Date: February 3, 2020 MARC has assigned a preliminary rating of AAA on Bank Pembangunan Malaysia Berhad’s proposed RM5.0 billion Islamic Medium-Term Notes Programme (IMTN Programme). Concurrently, the rating agency has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan. The ratings outlook is stable. The FI rating and outlook are mainly …
Posted Date: January 31, 2020 MARC has affirmed its ratings on Berjaya Land Berhad’s RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia) at AAA(bg). The ratings outlook is stable. The ratings reflect the unconditional and irrevocable …
MARC affirms Berjaya Land’s ratings with stable outlook Read More »
Posted Date: January 31, 2020 MARC has affirmed its ratings of AA-IS and A- 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 …
MARC affirms Kesturi’s ratings and revises outlook to stable from negative Read More »
Posted Date: January 24, 2020 MARC has placed Projek Lebuhraya Usahasama Berhad’s (PLUS) AAAIS/Stable rating on its RM23.35 billion Sukuk Musharakah Programme on MARCWatch Developing. The rating action has been triggered by the recent government announcement on PLUS with the aim to reduce the toll burden on the Rakyat and relieve the government of compensation …
Posted Date: January 23, 2020 MARC has assigned a rating of AA-IS to TG Excellence Berhad’s proposed RM3.0 billion Perpetual Sukuk Wakalah Programme. TG Excellence Berhad is a special purpose wholly-owned subsidiary of Top Glove Corporation Bhd (Top Glove) to which MARC has concurrently assigned a corporate credit rating of AA. The ratings carry a …
Posted Date: January 22, 2020 MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and AIS rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The rating on Bank Muamalat’s Senior Sukuk programme is equalised to its long-term FI ratings based …
Posted Date: January 15, 2020 MARC has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. CNSB, a wholly-owned subsidiary of Celcom Axiata Berhad (Celcom), provides network telecommunication services to its parent. In assessing CNSB’s rating, MARC considers the overall credit profile of the Celcom …