MARC has affirmed its ratings of MARC-2ID/AID on Symphony House Berhad's (Symphony) RM100.0 million Islamic Commercial Papers/Medium Term Notes (Islamic CP/MTN) Programme and revised the outlook to negative from stable. The rating action affects RM20 million of outstanding IMTNs.The outlook revision reflects the slower-than-expected pace of recovery in Symphony's operating performance and its fina...

MARC affirms its rating on Gas Malaysia Berhad’s (Gas Malaysia) RM500 million Al-Murabahah Medium Term Notes (MTN) Programme at AAAID with a stable outlook. Currently, there are no outstanding notes issued under the programme.The affirmed rating reflects Gas Malaysia’s satisfactory business risk profile owing to its strong market position as the sole natural gas distributor in Peninsul...

MARC has affirmed its sukuk ratings of AA+IS  on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium  Term Notes (MTN) Programme of up to RM800 million. The rating outlook for both issues is stable.  The affirmed ratings incorporate Westports’ strategic location and strong operational track record...

MARC has affirmed Sime Darby Berhad’s (Sime Darby) debt ratings as follows:RM4.5 billion Islamic Medium Term Note (IMTN) Programme (RM2.0 billion outstanding) and RM500 million Islamic Commercial Paper (ICP) Programme (RM500 million outstanding) with combined limit of RM4.5 billion at AAAID / MARC-1ID; andRM150 million Underwritten Murabahah Commercial Papers Facility at MARC-1ID.The outlook...

MARC has affirmed its rating on Boustead Holdings Berhad’s (Boustead Holdings) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad and The Bank of Ea...

MARC has affirmed its ratings on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) Programmes at AAAID and MARC-1ID /AAAID respectively and revised the outlook to negative from stable. The rating action affects RM2.25 billion of outstanding notes under the rated programmes.The outlook revision follows the c...

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 the Sukuk) respectively, with a stable outlook. Wholly-owned by Tradewinds Plantation Berhad (Tradewinds), Tradewinds Capital is a special purpose vehicle established to act...

MARC has affirmed its AAAID rating on Kwantas SPV Sdn Bhd’s (Kwantas SPV) outstanding RM60 million Class A sukuk with a stable outlook. Concurrently, MARC has also affirmed its ratings on Kwantas SPV’s RM65 million Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-2ID(cg) /A-ID(cg). The rating outlook on the Murabahah CP/MTN Programme has been revised to stable f...

MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a funding vehicle of Trans-Thai Malaysia (Thailand) Ltd (TTMT), a 50:50 joint-venture between Petroliam Nasional Berhad (PETRONAS) and Thailand's PTT Public Company Ltd (PTT). TTM SPV was incorporated to raise funding for the construction of two gas pipelines t...

MARC has affirmed its AAA rating on Woori Bank’s RM1.0 billion Medium Term Notes (MTN) Programme with a stable outlook. The affirmed rating reflects the bank’s strong banking franchise in the Republic of Korea (Korea), good earnings generation capacity, sound funding profile and capitalisation, as well as progress made by the bank in strengthening its risk management framework. The rat...