MARC has affirmed its AA- rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes facility (MTN facility). The rating outlook, however, has been revised to negative from stable. The current outstanding under the rated facility is RM365 million.The outlook revision reflects MARC’s concern that the sharp decline in passenger traffic volume at Kuala Lumpur International Airp...

MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-July 2020.The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas to mitigate demand risk, and its moderate leverage and liquidity posi...

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 (formerly known as Pembinaan BLT Sdn Bhd), the developer of 74 projects comprising quarters and fa...

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;• RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS; and• RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme        (due 2033) at AAAIS.The outlook for all ratings is stable...

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 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. Proceeds from the issuance under the proposed Sukuk Wakalah will be mainly used to refinance Tropicana’s existing borrowings and to part fund its working capital requirements. The assigned rating refle...

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 of th...

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 expiring...

MARC has affirmed the rating of AAA on Inverfin Sdn Bhd’s outstanding RM160 million Tranche A notes under its RM200 million Medium-Term Notes (MTN) programme. The maximum limit of the Tranche A notes is RM160 million. The rating outlook has been revised to stable from negative. The outlook revision reflects the significant improvement in the occupancy level of the collateral property, Menar...