MARC has affirmed its rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme at AAAIS. Concurrently, the outlook on the rating has been revised to negative from stable. CNSB owns the core network assets of its parent Celcom Axiata Berhad (Celcom) and serves mainly as a network service provider to the Celcom group. The rating and outlook of CNSB are derived from the co...

MARC has affirmed the long-term and short-term financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1 and the ratings of all corporate debt issuances by the bank; the full list of these issuances is given at the end of this section. CIMB Bank’s existing subordinated debt and hybrid securities are notched down from the bank’s FI rating in accordance with MARC’s gener...

MARC has affirmed its rating on the outstanding RM87.4 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) of Talam Transform Berhad (Talam, formerly known as Trinity Corporation Berhad) at B-ID with a stable outlook. The rating incorporates Talam’s limited business prospects in property development, its sizeable financial obligations relative to earnings and its continued re...

MARC has affirmed the AAA rating on Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility with a negative outlook. The rating action affects the outstanding bonds of RM610.0 million. The bonds are backed by deferred payment receivables from Port Klang Authority (PKA) based on the sale and purchase of a 999.5-acre leasehold land parcel on Pul...

MARC has assigned a foreign currency sovereign rating of ‘AA-’ with a stable outlook to the Republic of Indonesia based on the rating agency’s national rating scale. The government of Indonesia (GoI) has no debt rated by MARC. The country ceiling applies to ringgit-denominated issuances by entities domiciled in Indonesia to reflect the transfer and convertibility (T&C) risk i...

MARC has affirmed the rating of BBB on integrated aluminium producer Press Metal Berhad’s (Press Metal) RM320.5 million Redeemable Convertible Secured Loan Stocks (RCSLS). The rating outlook is maintained at negative. The rating action reflects the difficult operating environment for aluminium manufacturers, the group’s continued weak liquidity position and its significant leverage pos...

MARC has affirmed its AAAIS(bg) and AAAIS(fg) ratings on Ranhill Group Sdn Bhd’s (Ranhill Group) RM300 million bank-guaranteed (Tranche 1) and RM500 million Danajamin-guaranteed (Tranche 2) Sukuk Musharakah facilities respectively. The outlook for the ratings is stable.The rating on the Tranche 1 sukuk reflects the credit strength of an unconditional and irrevocable guarantee provided by Maybank...

MARC has affirmed the ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM350 million guaranteed notes and RM360 million non-guaranteed notes issued under the RM710 million Islamic Medium-Term Notes (IMTN) Programme at AAAIS(fg) and AAIS  respectively. The outlook for both ratings is stable. RPII is a special purpose project company that operates the 190-megawatt combined-cycle gas turbine (...

MARC  has affirmed  the long-term  and  short-term  financial  institution (FI) ratings of AA-/MARC-1 on Hong Leong Investment Bank Berhad (HLIB). The outlook on the ratings is stable.The FI ratings reflect HLIB's improved standalone business and financial profile as well as its established track record in investment banking and stockbroking operations that have enabl...

MARC has affirmed its MARC-1/AA ratings on non-operating financial holding company Hong Leong Financial Group Berhad's (HLFG) RM1.8 billion Commercial Paper and Medium-Term Notes (CP/MTN) programme with a stable outlook. The affirmed ratings are underpinned by the favourable financial strength and established domestic market position of HLFG’s key subsidiary, commercial bank Hong Leong Bank ...