Rating

Posted Date: October 13, 2021 MARC has revised the ratings outlook on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds to negative from stable. Concurrently, the rating agency has affirmed its AA-IS and A- ratings on the Senior Sukuk and Junior Bonds, with […]

Posted Date: October 11, 2021 MARC has affirmed its ratings of MARC-1IS and A+IS on George Kent (Malaysia) Berhad’s (George Kent) RM100.0 million Islamic Commercial Papers Programme and RM500.0 million Islamic Medium-Term Notes Programme (collectively Sukuk Programmes), subject to a combined limit of RM500.0 million. The ratings outlook is stable. The rating affirmation mainly reflects

Posted Date: October 8, 2021 MARC has affirmed its AA-IS rating on Leader Energy Sdn Bhd’s outstanding ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of RM255.0 million. The rating outlook is stable. Leader Energy is the investment holding company of two solar power project companies with solar power projects in Kuala Muda, Kedah.

Posted Date: October 7, 2021 MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah, with a stable outlook. TTM SPV is the funding vehicle of Trans Thai-Malaysia (Thailand) Ltd (TTMT) for the construction of two additional gas pipelines to transport natural gas from the Malaysia-Thailand Joint Development Area

Posted Date: October 6, 2021 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 continues to factor KIB’s well-established investment processes and sound risk management practices. The IMR rating on KIIB mirrors KIB’s based on our assessment

Posted Date: October 06, 2021 MARC views the acquisition of Danajamin Nasional Berhad (Danajamin) by Bank Pembangunan Malaysia Berhad (Bank Pembangunan) does not have immediate rating implications on both entities. The rating agency currently rates both entities at AAA with a stable outlook. Bank Pembangunan will acquire 50% of Danajamin’s shares from Credit Guarantee Corporation

Posted Date: October 05, 2021 MARC has affirmed its rating of A+IS and MARC-1IS on TSH Sukuk Murabahah Sdn Bhd’s RM150 million Medium-Term Notes (IMTN) Programme and RM50 million Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed its rating of A+IS on TSH Sukuk Ijarah Sdn Bhd’s RM300 million IMTN programme. The long-term

Posted Date: October 5, 2021 MARC has affirmed its long-term and short-term financial institution (FI) ratings of A+ and MARC-1 with a stable outlook on Kenanga Investment Bank Berhad (Kenanga). Kenanga’s strong competitive position in the domestic stockbroking industry from which it has been able to generate moderate-to-strong income remains the key factor for the

Posted Date: October 5, 2021 MARC has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM75 million Fixed Rate Serial Bonds. The rating outlook remains negative and is premised on our concern over the company’s liquidity position if an ongoing plan to clear its tax arrears of RM10 million is not realised.

Posted Date: October 5, 2021 MARC has affirmed its AAAIS rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The current outstanding of RM50 million BaIDS is payable on December 2, 2022. The affirmed rating incorporates a three-notch uplift for parental