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 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 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 assigned a rating of AAAIS(fg) with a stable outlook on property developer Bolton Berhad’s (Bolton) proposed RM230 million 7-year Islamic Medium Term Notes (IMTN) Programme. The assigned rating and stable outlook are underpinned by an unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in relation to the IMTN programme. Danajamin is curr...

MARC has affirmed its AAA(bg) and MARC-1(bg) ratings on Mega Palm Sdn Bhd’s (Mega Palm) Bank Guaranteed Medium Term Notes (BG MTN) of up to RM70 million and Bank Guaranteed Commercial Papers (BG CP) of up to RM80 million respectively. The outlook for the ratings is stable. The rating action affects the outstanding BG MTN of RM10 million and BG CP of RM40 million. The affirmed rating and stab...

MARC has assigned a rating of AAAIS to Putrajaya Holdings Sdn Bhd’s (PJH) RM3.0 billion Sukuk Musharakah Programme with a stable outlook. Concurrently, MARC has affirmed its AAAID and AAAIS ratings on PJH’s existing Islamic debt issuances with a stable outlook. A complete list of the affirmed ratings and rated issuances is provided at the end of this announcement.Proceeds from the issu...

MARC has affirmed its short-term and long-term ratings on MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-1(fg)/AAA(fg) with a stable outlook. The rating action affects RM400 million of outstanding notes issued under the programme. The affirmed ratings and outlook are underpinned by an unconditional and irrevocable fin...

MARC affirms its MARC-1/AAA rating of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes issued under its RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The programme allows for the issuance of junior Class B notes which would carry a rating of MARC-1/AA; however, Inverfin currently has no outstanding Class B notes issued under this programme. The ratings co...