MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110.0 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (Senior Notes) facility and RM10.0 million Junior IMTNs (Junior Notes) facility at MARC-1ID /AAID and A+ID respectively. The outlook on the ratings is negative. The affirmed ratings are premised on the credit quality of the assigned lease re...

MARC has affirmed its rating of AA- on Sports Toto Malaysia Sdn Bhd’s (Sports Toto) RM800.0 million Medium-Term Note Programme (MTN) with a stable outlook. The affirmed rating reflects Sports Toto’s strong cash flow generation from its Numbers Forecasting Operations (NFO) and entrenched market position in Malaysia’s gaming sector. The rating is moderated by significant regulator...

MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed IFS rating is premised on the status of Danajamin as a government-sponsored and -owned financial guarantee insurer (FGI) and the perceived high government support owing to the FGI’s role in the domestic sukuk and bond markets. The IFS rating also inc...

Rationale   MARC has assigned a rating of AA- with a stable outlook to Central Impression Sdn Bhd’s (CISB) proposed 11-year Fixed Rate Serial Bonds of up to RM120.0 million. The issuer is a single-purpose company which was established to own and develop AEON Klebang, a three-storey shopping mall in Ipoh, Perak. The proceeds from the bond issuance will be used to part finance the ma...

MARC has affirmed its AA-IS rating on Weststar Capital Sdn Bhd’s (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Weststar Capital, a wholly-owned subsidiary of offshore helicopter service provider Weststar Aviation Services Sdn Bhd (Weststar), was set up for the sole purpose of facilitating the issuance of the sukuk.  The sukuk is secured by the right...

MARC has affirmed its rating of AAAIS(fg) on Symphony Life Berhad’s (Symphony Life) RM230 million seven-year Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are based on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s financial strength rating of AAA/stable.M...

MARC has affirmed its 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 ins...

MARC has assigned a rating of AA-IS to Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah Programme of up to RM8.4 billion. The outlook on the rating is stable. JEP is a 70:30 joint venture between Pelita Merpati Sdn Bhd (PMSB) and 3B Power Sdn Bhd (3B Power) that was set up to finance and develop a greenfield 2x1,000MW ultra-supercritical coal-fired power plant (Project 3B or project power plant...

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. Wholly-owned by Sacofa Sdn Bhd (Sacofa), Pinnacle Tower is a special purpose funding vehicle for its parent company which is involved in telecommunication infrastruc...

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 reflect the credit strength of an unconditional and irrevocable guarantee on the IMTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financ...