Rating action          MARC Ratings has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). Concurrently, the rating agency has revised the rating outlook to stable from negative. Fortune Premiere is a funding vehicle of IOI Properties Group Berhad (IOI Properties) which has provi...

Rating action                    MARC Ratings has assigned a rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) RM1.0 billion Medium-Term Notes Programme (MTN programme). The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company L...

Rating action           MARC Ratings has affirmed its rating of AA- on STM Lottery Sdn Bhd’s RM800.0 million 15-year Medium-Term Notes (MTN) Programme with a stable outlook. Rationale STM Lottery’s entrenched domestic market position as a number forecast operator (NFO), its lengthy operating track record and strong cash flow generating ability relative t...

Rating action                      MARC Ratings has affirmed its ratings on Berjaya Land Berhad’s (Bland) RM500.0 million Medium Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia) at AAA(bg). The rating...

Summary           Global Bond Markets          Government bonds mostly strengthened on both sides of the Atlantic as soft inflation data spurred hopes of slower pace of rate tightening by central banks. In China, on the other hand, government bonds were sold off as risk sentiment picked up after policymakers announced measures to ease COV...

Rating actionMARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and concurrently affirmed its A+IS rating on MBSB Bank’s RM5.0 billion Sukuk Wakalah programme. The ratings outlook is stable. RationaleMBSB Bank’s sound capitalisation levels and strong support from its ultimate shareholder Employees Provident Fund (EPF) remain key rating drivers. The r...

Rating action           MARC Ratings has affirmed its ratings of MARC-1IS /AA-IS on UEM Edgenta Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) under the Sukuk Murabahah Programme of up to RM1.0 billion. The long-term rating carries a stable outlook. The outstanding sukuk stood at RM250.0 million as at end-November 2022.RationaleThe ra...

Rating action    MARC Ratings has affirmed its financial institution (FI) rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC). Rationale   The affirmed rating reflects CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support provided by the government through Bank ...

Rating actionMARC Ratings has affirmed its rating of AAAIS  on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah programme of up to RM10.0 billion with a stable outlook. As at end-November 2022, the outstanding amount under the programme stood at RM1.5 billion.RationaleMARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah programme of up to ...

Rating actionMARC Ratings has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420.0 million Sukuk with a stable outlook. The outstanding under the rated programme stood at RM330.0 million as of November 30, 2022. RationaleCerah Sama is the investment holding company of Grand Saga Sdn Bhd, the concessionaire of the 11.5-km Cheras-Kajang Highway. The rating reflects the resilient traffic ...