MARC has assigned a final rating of AA-IS to The Holstein Milk Company Sdn Bhd’s (THMC) RM1.0 billion Sukuk Wakalah 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 from the draft documentation on which the preliminary rating was based.For full detai...

MARC has assigned a preliminary rating of AA-IS with a stable outlook to The Holstein Milk Company Sdn Bhd’s (THMC) proposed RM1.0 billion Sukuk Wakalah Programme. THMC is an integrated dairy farming player with operations ranging from cattle breeding and milk processing in Malaysia and Australia, to distribution of dairy products.The assigned rating is driven by THMC’s growing market share in...