MARC has removed its AA-ID rating on Maju Expressway Sdn Bhd's (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme from MARCWatch Negative and affirmed the rating with a stable outlook. MESB holds the concession for the 26-kilometre Maju Expressway (MEX) which links the Kuala Lumpur City Centre with Putrajaya and Cyberjaya. MARC had put MESB on negative watch on September 5, 2013, la...

MARC has affirmed its rating on ANIH Berhad's (ANIH) RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) at AAIS with a stable outlook. ANIH is the concessionaire for the Kuala Lumpur-Karak Highway (KL-Karak), Phase 1 of the East Coast Expressway (ECE1) and the Kuala Lumpur-Seremban Expressway (KL-Seremban). The affirmed rating continues to be underpinned by the strong competitive po...

MARC has affirmed the rating of AAAIS(fg) on Antara Steel Mills Sdn Bhd’s (Antara) RM300.0 million Sukuk Mudharabah Programme with a stable outlook. The affirmed ratings and outlook are underpinned by the financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the sukuk. MARC currently rates Danajamin’s financial strength at AAA/Stable based on the financial insurer&r...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million sukuk programme (sukuk) with a stable outlook. The rating reflects an anticipated base-load position of the project, a 285-megawatt (MW) combined-cycle gas turbine power plant in Kimanis Bay, on the Sabah state's electricity dispatch curve. Other credit strengths of the project include its supportive long-term p...

MARC has downgraded its long-term Islamic debt ratings on UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme to AA+ID from AAAID. The rating agency also affirmed its short-term rating on the programme at  MARC-1ID. MARC subsequently withdrew all ratings on UMW at its request. The outlook was stable at the time of the wi...

MARC has affirmed its rating on Celcom Networks Sdn Bhd’s (CNSB) (formerly known as Celcom Transmission (M) Sdn Bhd) RM5.0 billion Sukuk Murabahah Programme at AAAIS with a stable outlook. CNSB is the owner of Celcom Axiata Berhad Group’s (Celcom Group) network assets and serves primarily as a network service provider to parent company Celcom and fellow subsidiary Celcom Mobile Sdn Bhd...

MARC has assigned a final rating of AA+ to CIMB Bank Berhad’s (CIMB Bank) RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme (Subordinated Debt Programme). Concurrently, MARC has also affirmed the long-term and short-term financial institution (FI) ratings on CIMB Bank at AAA/MARC-1 and the ratings of all corporate debt issuances by the bank; the full list of these issuanc...

MARC has affirmed the AA+ rating on ABS Samudera Receivables Berhad’s (ASRB) Notes Series-A issued under its RM250.0 million Medium Term Notes Programme (MTN Programme) with a negative outlook. The principal amount of notes outstanding under the programme has remained at RM1.3 million since the early partial redemption of RM3.7 million in December 2011.ASRB is a bankruptcy remote special pur...

MARC has affirmed its ratings on MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) outstanding RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-1(fg)/AAA(fg) with a stable outlook. The affirmed ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the CP/MTN Programme. ...

MARC  has  assigned  long-term  and  short-term  financial  institution (FI) ratings of AA-/MARC-1 with a stable outlook to Hong Leong Investment Bank Berhad (new HLIB, renamed from MIMB Investment Bank Berhad (MIMB)). The rating actions follow a review by MARC of the strategic initiatives, operating results and financial fundamentals of the new HLIB after t...