MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from the ratings of its parent Kuwait Finance House K.S.C. (KFH) in accordance with MARC’s approach to rating subsidiaries of foreign banks. The rating agency has affirmed th...

MARC has affirmed the rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer...

MARC has affirmed financial institution (FI) ratings of A / MARC-1 to Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently affirmed the AIS rating on the Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. MARC notes that Bank Muamalat and Malaysia Building Society Berhad (MBSB) have received an approval from Bank Negara Malaysia (...

MARC has affirmed its AAAIS(fg) rating on investment holding company Senari Synergy Sdn Bhd’s (Senari Synergy) RM380 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are underpinned by the unconditional and irrevocable guarantee on the IMTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer rat...

MARC has affirmed the ratings of MARC-1IS and AAAIS on Pinnacle Tower Sdn Bhd’s (Pinnacle Tower) RM50 million Islamic Commercial Papers (ICP) and RM400 million Islamic Medium-Term Notes (IMTN) respectively with a stable outlook. The affirmed ratings and stable outlook are premised on the outstanding principal and profit payments totalling RM92.5 million under the ICP/IMTN programmes being ...

MARC has affirmed its long-term ratings on WCT Holdings Berhad’s (WCT Holdings) debt and sukuk issuances but has revised the ratings outlook to negative from stable. WCT Holdings’ rated debt and sukuk issuances are as follows: RM600 million 5-year Fixed Rate Serial Bonds (due December 2015) at AA-; RM1.0 billion 15-year MTN Programme (due April 2028) at AA-; and RM1.5 billion 15-...

MARC has affirmed its AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating action affects the outstanding BaIDS of RM30.0 million. The rating is aligned to MARC’s public assessment on the Sarawak State Government (SSG) on the basis of KPA’s status as a state-owned statutory body and state ...

MARC has assigned a AAA rating on Malayan Banking Berhad’s (Maybank) proposed Senior Medium-Term Note (MTN) programme of up to RM10.0 billion in nominal value. The outlook on the rating is stable. The rating on the proposed MTN is equalised to Maybank’s financial institution long-term rating of AAA/Stable premised on the seniority of the MTN. Maybank’s financial institution ratings which we...

MARC has assigned ratings on Sunway group’s existing debt and sukuk as follows: RM2.0 billion 7-year (2013-2020) CP/MTN programme issued by Sunway Berhad at MARC-1/AA-; and RM2.0 billion 7-year (2015-2022) ICP/IMTN Sukuk programme issued by Sunway Treasury Sukuk Sdn Bhd (STSSB) with Al-Kafalah guarantee from Sunway Berhad at MARC-1IS(cg) /AA-IS(cg). The outlook on the ratings i...

MARC has assigned a rating of AA-IS with a stable outlook to MMC Corporation Berhad’s (MMC) proposed notes issuance of up to RM1.5 billion under a Sukuk Murabahah Programme (Sukuk Murabahah). The bulk of the proceeds from the proposed programme will be largely utilised to refinance MMC’s existing borrowings at the holding company level. MMC is mainly an investment holding company whose ...