MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed IFS rating continues to reflect Danajamin’s status as a government-sponsored and owned financial guarantee insurer (FGI) and perceived high support from the government in view of its public policy objective of facilitating greater corporate access to ...

MARC has affirmed its ratings of MARC-1(fg)/AAA(fg) on property developer Riverson Corporation Sdn Bhd’s (Riverson) RM200 million CP/MTN programme with a stable outlook. The affirmed ratings and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the programme. Danajamin carries a financial insurer rating of AAA ...

MARC has assigned an insurer financial strength of AA- on Malaysia’s national rating scale to Luxembourg-based Atlanticlux Lebensversicherung S.A. (ATL). The primary driver for the rating is ATL’s focus on writing relatively low-risk unit-linked life policies and the life insurer’s low retention of mortality risks and guarantee risk on unit-linked business with guarantees. ATL sa...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 as well as the AAA/MARC-1 ratings on its parent, Kuwait Finance House K.S C. (KFH). The outlook on all ratings is stable.KFHMB's affirmed ratings continue to be driven by MARC's expectation of parent support being available to the bank. MARC's top-down approa...

MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating reflects the continued support of parent company Putrajaya Holdings Sdn Bhd (PJH) and ultimate holding company Petroliam Nasional Berhad (PETRONAS) which enables GDC Putrajaya to ...

MARC has assigned a rating of AA-IS to Malakoff Power Berhad’s (MPower) issuance of Sukuk Murabahah of up to RM5.4 billion. Concurrently, MARC has affirmed its short-term rating of MARC-1IS on MPower’s outstanding RM200 million Islamic commercial papers (ICP) due in April 2014 issued under its RM300.0 million ICP Programme. The ratings outlook is stable. Proceeds from the Sukuk Murabah...

MARC has affirmed the ratings of MARC-1(fg)/AAA(fg) on Syarikat Kapasi Sdn Bhd’s (Kapasi) RM200 million Commercial Papers/Medium Term Notes (CP/MTN) Programme with a stable outlook. The affirmed rating and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the CP/MTN Programme. MARC has a current rating of AAA/s...

MARC has affirmed its AAAID rating on Gas Malaysia Berhad’s (Gas Malaysia) RM500 million Al-Murabahah Medium Term Notes (MTN) programme with a stable outlook. The affirmed rating reflects the natural gas utility’s fairly diverse industrial, residential and commercial customer base, adequate natural gas supply from national oil and gas company Petroliam Nasional Berhad (PETRONAS), and v...

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 of KPA benefits from state support and is aligned to MARC’s public information rating on the Sarawak State Government (SSG) of AAA/Stable. KPA is the operator of Kuching Port.MARC’s assessment of high...

MARC has affirmed its AAAIS rating on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. Aman was set up by its parent Pembinaan BLT Sdn Bhd (PBLT), a wholly-owned entity of the Government of Malaysia (GoM), to issue the IMTNs to finance the construction of police quarters and facilities for Polis DiRaj...