Posted Date:MARC has assigned a preliminary rating of A+IS to Sunsuria Berhad’s proposed RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable.  Sunsuria is a mid-size property developer whose main development is the 375-acre Sunsuria City township in Salak Tinggi, Selangor. Sunsuria remains focused on property development projects within the Klang Valley over the near...

MARC has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) RM120.0 million Fixed Rate Serial Bonds. The rating outlook remains negative. The rating outlook was revised to negative last year over its reduced cash buffer due to a higher tax liability arising from underpayments in prior years totalling RM3.2 million. CISB is required to settle the tax arrears in four annual instal...

MARC has affirmed its AAAIS rating on Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. The outstanding IMTN under the rated programme stood at RM4.07 billion as at May 31, 2020. Aman is a wholly-owned funding vehicle of PBLT Sdn Bhd, the developer of 74 projects comprising quarters and facilities for Polis Diraja Malaysia (PDRM)...

MARC has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) issuances under the following programmes:RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS / stable;RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS / stable; andRM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033) at AAAIS / stable.The ratings affirmation and outlook are premised ...

MARC has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable.PBSB was established as a funding vehicle for its parent Putrajaya Holdings Sdn Bhd (PJH) (AAA/Stable) to undertake the development of nine blocks of government office buildings and one block of shared facilities in Parcel F, Preci...

MARC has withdrawn its ratings of MARC-1/AA- on Murud Capital Sdn Bhd’s Senior Commercial Papers/Medium-Term Notes (Senior CP/MTN) programme of up to RM290 million. The rating withdrawal follows the full redemption of the outstanding RM244 million Senior CP and subsequent cancellation of the programme.Upon the withdrawal, MARC will no longer provide analytical coverage on the issuer.Contact:Lim ...

MARC has assigned a final rating of A+IS to Tropicana Corporation Berhad’s (Tropicana) proposed RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) with a stable outlook. Upon review of the final documentation for the programme, MARC is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the earlier preliminary rat...

MARC has assigned ratings of MARC-1/AA- to Sunway Berhad’s RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) programme. Concurrently, the rating agency has affirmed its existing ratings on Sunway and related company Sunway Treasury Sukuk Sdn Bhd’s issuances. The ratings outlook is stable. The new CP/MTN programme will replace Sunway’s existing RM2.0 billion CP/MTN programme exp...

MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 2 Medium-Term Notes (MTN) of RM130 million Class A, RM25 million Class B and RM15 million Class C. Concurrently, the rating agency has also affirmed its MARC-1 rating on Kinabalu Capital’s Issue 2 of up to RM170 million Commercial Papers (CP). The ratings outlook is stable.The ratings affirmation refle...

MARC has assigned a preliminary rating of A+IS to Tropicana Corporation Berhad’s (Tropicana) proposed RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) with a stable outlook. The assigned rating reflects Tropicana’s established market position in property development, steady performance and moderate leverage position. These strengths are supported by stable, albeit modest,...