Malaysian Rating Corporation Berhad (MARC) was named as Project Finance Rating Agency of the Year (Malaysia) for 2021. This is the fourth time that MARC has been honoured and humbled by the award, having previously been bestowed with this industry recognition in 2020, 2016 and 2015.
The Asset Triple A Infrastructure Awards 2021, awarded by Hong Kong-based The Asset, recognise key institutions that have promoted the development of infrastructure in Asia and the Pacific, which is a key pillar of the region's economic growth and development.
The Project Finance Rating Agency of the Year award recognises a credit rating agency's role within the debt capital market, encompassing the agency's contributory role in project development and debt structuring and its principal responsibility of rating debt for infrastructure purposes.
MARC Group Chief Executive Officer Datuk Jamaludin Nasir says of this win, "This accolade acknowledges our significant role in project finance, which has been supported by our robust framework for assessing credit in the project finance segment. MARC will continue to proactively identify emerging risks in this segment and engage with stakeholders as necessary amid these current challenging circumstances."
MARC provides ratings across various corporate sectors, with core competencies in project finance as underscored by our longstanding track record in rating domestic toll roads, power plants, water assets and ports. MARC is expanding its footprint in green financing, having rated the majority of solar power projects in Malaysia and recently finalising several sustainability sukuk assessments.
Noteworthy deals rated by MARC in the year 2020 include Pengerang LNG (Two) Sdn Bhd's Islamic Medium-Term Notes of up to RM3.0 billion, Pelabuhan Tanjung Pelepas Sdn Bhd's RM1.9 billion Sukuk Murabahah Programme, Leader Energy Sdn Bhd's ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM260.0 million, and Sparks Energy 1 Sdn Bhd's ASEAN Green SRI Sukuk of up to RM220.0 million.
MARC is also the recipient of the Rating Agency of the Year (Malaysia) award by The Asset for three years running from 2018 to 2020. These back-to-back wins are reflective of our position as a valued entity in Malaysia's capital markets.
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