Rating

Posted Date: December 9, 2021 MARC has affirmed its financial institution 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 ratings outlook is stable. The ratings incorporate Bank Muamalat’s healthy capitalisation levels, stronger asset quality metrics […]

Posted Date: November 30, 2021 MARC has affirmed its preliminary AA-IS rating on Sparks Energy 1 Sdn Bhd’s proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Murabahah of up to RM220.0 million. The rating outlook is stable. Sparks Energy 1 is a special purpose vehicle incorporated to raise funding to develop two 30MWac solar

Posted date: November 30, 2021 MARC has assigned long-term ratings of AAA, AA and A to Trusmadi Capital Sdn Bhd’s issue of RM235 million Class A, RM40 million Class B, and RM25 million Class C Medium-Term Notes (MTN). Concurrently, the rating agency has assigned a MARC-1 rating to Trusmadi Capital’s issue of up to RM300

Posted Date: November 26, 2021 MARC has been informed that UiTM Solar Power Sdn Bhd’s (UiTM Solar) 50MWac solar photovoltaic plant in Gambang, Pahang had experienced technical issues at its gas-insulated switchgear (GIS) and power transformer. The events have led to the plant currently being non-operational. UiTM Solar’s rating was affirmed at AA-IS/stable during the

Posted Date: November 26, 2021 MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s outstanding RM235 million Sukuk Wakalah with a stable outlook. The rating affirmation reflects the credit strength of Tanjung Bin O&M’s parent, Malakoff Power Berhad (MPower), which has provided an unconditional and irrevocable undertaking to top up any shortfall in

Posted Date: November 26, 2021 MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-September 2021. The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas, and its

Posted Date: November 26, 2021 MARC has assigned a preliminary rating of A+IS with a stable outlook to YNH Property Berhad’s (YNH) proposed Islamic Medium-Term Notes Programme (Sukuk Wakalah) of up to RM700 million. Proceeds from the initial drawdown of about RM350 million will be utilised to repay a term loan of RM130 million and

Posted Date: November 25, 2021 MARC has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) outstanding RM2.93 billion Sukuk Murabahah with a stable outlook. MPower is the operations and maintenance operator of Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic independent power producers (IPP). MPower is a wholly-owned subsidiary of Malakoff. MARC’s rating approach to MPower

Posted Date: November 25, 2021 MARC has assigned a final rating of A+IS to Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes (IMTN) Programme. The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way

Posted Date: November 24, 2021 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 has been revised to positive. The outlook revision incorporates the continued improvement in Northport’s credit metrics on the back of substantial growth in