MARC affirms its ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and RM50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.The affirmed ratings reflect the satisfactory growth of traffic volume on Kesturi’s toll ...

MARC has assigned ratings of AAA(bg) and AAA(fg) to Premier Merchandise Sdn Bhd’s (PMSB) issuance of up to RM300 million 7-year Medium-Term Notes (MTN) Programme (Tranche 1) of and RM300 million 9-year MTN Programme (Tranche 2). The outlook for both ratings is stable. The assigned ratings reflect the credit strength of the unconditional and irrevocable guarantees provided by Malayan Banking ...

MARC has assigned ratings of MARC-1IS /AA-IS to UEM Land Holdings Berhad’s (ULHB) proposed Islamic Commercial Paper (ICP) Programme and Islamic Medium Term Notes (IMTN) Programme with a combined nominal value of RM2.0 billion and a sub-limit on the ICP Programme of RM500 million in nominal value. The rating outlook is stable. The ratings reflect ULHB’s position as a strategic subsidiar...

MARC has upgraded the rating on property developer Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) Programme to AA-ID from A+ID. The rating outlook is stable. The rating action affects the outstanding RM200 million IMTNs under the rated programme. The rating upgrade equalises Sunrise’s rating to that of its parent UEM Land Holdings Berhad (ULHB), premised on M...

MARC has affirmed its AAAIS rating on the RM30 million outstanding sukuk issued under IJN Capital Sdn Bhd’s (IJN Capital) Sukuk Musyarakah Programme with a stable outlook. IJN Capital is a wholly-owned special-purpose company of IJN Holdings Sdn Bhd (IJN Holdings). The affirmed rating and stable outlook incorporates the favourable competitive position of IJN Holding’s main operating en...

MARC has affirmed its A+IS rating on MNRB Holdings Berhad’s (MNRB Holdings) RM200 million Islamic Medium Term Notes (IMTN) with stable outlook pending the completion of the refinancing of all outstanding notes into a revolving bank credit facility. The proposed refinancing will allow the investment holding company to extend its debt maturity profile, alleviating refinancing risk. At the same...

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 rating action is premised on the financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) for the CP/MTN Programme. MARC has a current rating of AAA/stable on Danajamin, which is...

MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (collectively referred to as Senior Notes) and RM10 million Junior IMTNs (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The ratings outlook is stable. The rating action affects RM33 million of outstanding notes, comprising RM30 million...

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). The rating outlook is maintained at stable. The rating derives from intermediate and ultimate holding company Putrajaya Holdings Sdn Bhd’s (PJH) and Petroliam Nasional Berhad’s (PETRONAS) continued su...

MARC has affirmed the long-term rating of A+ID for KNM Group Berhad’s (KNM) RM1.1 billion Islamic Medium Term Notes (IMTN) programme and the short-term rating of MARC-1ID for KNM’s RM400.0 million Islamic Commercial Paper (ICP) programme. The outlook of the ratings is revised to negative from developing.The affirmed ratings are based on the good competitive position and operating profi...