Rating action          MARC Ratings has affirmed its rating of AA-IS on special purpose funding vehicle TSH Sukuk Murabahah Sdn Bhd’s RM150 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating assessment on TSH Sukuk Murabahah is based on the credit profile of parent TSH Resources Berhad (TSH) which has provided an irrevocable and unc...

Rating action             MARC Ratings has affirmed CIMB Bank Berhad’s financial institution (FI) ratings at AAA/MARC-1 and the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme rating at AA+. The ratings outlook is stable.Rationale   CIMB Bank’s high systemic importance in the domestic banking industry, we...

Rating action              MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. The rating differential between CIMB Group’s lon...

Rating action          MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has affirmed its ratings on CIMB Islamic’s sukuk issuances as follows:RM10.0 billion sukuk Senior Sukuk Wakalah Programme (Sukuk Wakalah) at AAAIS/StableRM5.0 billion Tier 2 Junior Sukuk...

Rating action          MARC Ratings has affirmed its AA-IS rating on SHC Capital Sdn Bhd’s RM80.0 million issuance under its RM200 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. There is no further drawdown expected, but any drawdown will require a reassessment of the rating. The outstanding amount currently stands at RM70.0 milli...

Rating action          MARC Ratings has affirmed its rating of AAIS(cg) on special purpose funding vehicle VS Capital Management Sdn Bhd’s Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion. The rating outlook is stable. The rating reflects the credit strength of parent VS Industry Berhad (VSI) which has provided an unconditional and irrevocable guara...

Rating action           MARC Ratings has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable.     Rationale      The rating affirmation is mainly premised on the sufficiency of the periodic payment streams from the Malaysian governm...

Rating action           MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) sukuk programmes as follows:• RM1.0 billion 20-year Sukuk Wakalah Programme (due 2041) at AAAIS• RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS• RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS; and• RM1.5 billion Sukuk Musharakah M...

Rating action          MARC Ratings has affirmed its AA-IS rating on toll concessionaire Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) outstanding RM3.64 billion Sukuk Wakalah.  The rating outlook has been revised to negative from stable. DUKE 3 is the concessionaire for the 32-km Setiawangsa-Pantai Expressway (SPE) that connects Middle Ring Road 2 (MRR2) at Wa...

Rating action          MARC Ratings has affirmed its financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.RationaleKAF IB’s longstanding track record of sound performance, strong capitalisation and liquidity levels, underpinned by a conservative investment strategy, remain key rating drivers. The susceptibilit...