MARC has affirmed its ratings of MARC-1(fg)/AAA(fg) on Riverson Corporation Sdn Bhd’s (Riverson) RM200 million CP/MTN facility with a stable outlook. The affirmed ratings and outlook reflect the unconditional and irrevocable financial guarantee on the rated programme by Danajamin Nasional Berhad (Danajamin), which has a rating of AAA/stable from MARC. Danajamin’s rating is underpinned ...

MARC has affirmed its AAAID(bg) and MARC-1ID(s) ratings on Horizon Hills Development Sdn Bhd’s (Horizon Hills) Islamic Bank Guaranteed Medium Term Notes (IMTN) Programme of up to RM200 million and Islamic Commercial Papers (ICP) Programme of up to RM70 million respectively. The ratings carry a stable outlook. Horizon Hills is jointly-owned by UEM Land Berhad (UEM Land) and Gamuda Berhad (Gam...

MARC has affirmed its AAAIS rating on Midciti Resources Sdn Bhd’s (Midciti) outstanding RM880 million Sukuk Musharakah Islamic Medium Term Notes (IMTN) Programme. The outlook on the rating is stable. Midciti is a 76.1% indirect subsidiary of Petroliam Nasional Berhad (PETRONAS) and is the owner of the 88-storey PETRONAS Twin Towers. Rental payments from PETRONAS as the head lessee of the PET...

MARC has affirmed the rating of Aman Sukuk Berhad’s (Aman) Islamic Medium Term Notes (IMTN) programme of up to RM10.0 billion at AAAIS with a stable outlook. Aman is a special purpose vehicle established to facilitate the issuance of IMTNs on behalf of its parent Pembinaan BLT Sdn Bhd (PBLT), which is wholly-owned by the Malaysian government. PBLT has been tasked to construct facilities and ...

MARC has affirmed its long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The bank’s focus on trading high quality fixed-income securities continues to underpin its modest credit and market risk profiles, and very strong regulatory capital adequacy position. Other important drivers for affirming the ratings include the bank&rsq...

MARC has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd’s (Tradewinds Capital) asset-backed RM180 million Class A and RM30 million Class B Sukuk Ijarah (collectively known as Sukuk) respectively. The outlook on the ratings is stable.Special purpose vehicle Tradewinds Capital is a wholly-owned subsidiary of Tradewinds Plantation Berhad (Tradewinds) incorporated ...

MARC has affirmed its ratings of MARC-1ID /AAID on Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance (MUNIF)/Islamic Medium Term Notes (IMTN) Facility (Senior Notes) and concurrently upgraded the rating on the RM10 million Junior IMTN Facility (Junior Notes) to AA-ID from A+ID. The outlook on the ratings is stable. The rating action affects RM...

MARC has affirmed its AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM120 million Istisna’ Serial Bonds with a stable outlook. The affirmed rating is underpinned by MARC’s AAA/stable public information rating on Sarawak state, which through the State Financial Secretary (SFS), a body corporate established under the State Financi...

MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) Programme at AAID with a stable outlook. ISPV is a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB) that was set up solely to facilitate the issuance of the MMTNs to finance the purchase of completed telecommunication (telco) towers constructed by the latter. As of dat...

MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic or the bank) financial institution (FI) ratings at AAA/MARC-1 and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme (Junior Sukuk) at AA+IS. CIMB Islamic’s Junior Sukuk is rated one notch lower than its long-term financial institution rating due to the subordination of the Junior Sukuk to th...