Rating action           MARC Ratings has assigned preliminary ratings of MARC-1IS/AA-IS  to Malakoff Power Berhad’s (MPower) proposed Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) programmes of up to RM1.2 billion. The outlook on the IMTN programme is stable. Concurrently, the rating agency has also affirmed its AA-IS rating on MPower’s outst...

Rating action           MARC Ratings has affirmed its rating of A/Stable on Singer (Malaysia) Sdn Bhd’s RM300.0 million Medium-Term Notes (MTN) Programme. The outstanding under the programme as at end-September 2023 stood at RM101.0 million.      RationaleThe affirmed rating reflects Singer’s long and profitable track record in selling and fina...

Rating action            MARC Ratings has affirmed its financial institution rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC).       RationaleThe affirmed rating considers the government’s 78.6% ownership of CGC through Bank Negara Malaysia (BNM), as well as the development financial institution’s (...

Rating action          MARC Ratings has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding under the rated programme stood at RM300.0 million as of November 12, 2023.        Rationale        Cerah Sama is the investment holding company of Grand Saga Sdn Bhd, the ...

Rating action         MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad as well as it’s A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. The ratings outlook is stable.        Rationale      The ratings affirmation reflects MBSB Bank’s sound capitalisati...

Rating action          MARC Ratings has affirmed its rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). RationaleThe rating cons...

Rating action          MARC Ratings has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. The outstanding currently stands at RM120 million.  Rationale The rating continues to reflect MARC Ratings’ assessment of a very high likelihood of support for Trans Thailand-Malaysia (TTM), a strat...

Rating action          MARC Ratings has affirmed its ratings of AA/MARC-1/Stable on Pac Lease Berhad’s Medium-Term Notes (MTN) Programme and Commercial Papers (CP) Programme with a combined limit of RM1.5 billion.RationaleThe ratings continue to reflect the company’s long track record, strong market position in the domestic industrial hire purchase (HP) industry, ...

Rating action          MARC Ratings has affirmed its rating of AA-IS on MMC Port Holdings Sdn Bhd’s RM1.0 billion Sukuk Murabahah Programme with a stable outlook.RationaleThe rating affirmation is driven by the group’s strong competitive position and well-established operational track record of its port operators in providing transshipment and gateway services. Th...

Rating action           MARC Ratings has affirmed its rating of AA-IS on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook.         Rationale        The key rating drivers for the affirmation are MMC’s competitive strength and longstanding track record in key sectors of th...