Rating action        MARC Ratings has affirmed its rating of AA-IS on Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme with a stable outlook. The outstanding under the programme stood at RM300.0 million as at September 30, 2022.RationaleThe affirmed rating reflects Evyap Malaysia's vertically integrated oleochemical production facil...

Rating actionMARC Ratings has assigned a rating of AA-IS(cg) to Eco World Capital Berhad’s Islamic Medium-Term Notes programme of RM1.2 billion under the Shariah principle of Wakalah Bi Al-Istithmar (Sukuk Wakalah programme). The rating outlook is stable. Eco World Capital is wholly owned by Eco World Development Group Berhad (EcoWorld) and is the financing vehicle that will undertake the issuan...

Rating action    MARC Ratings has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) issuance of RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) with a stable outlook.Rationale   ACSB was set up as a funding vehicle to facilitate the subscription of its sister company Peninsular Medical Sdn Bhd’s (PMSB) Redeemable Convertible Preference Shares (RCPS...

Rating actionMARC Ratings has assigned a rating of AA-IS to MY E.G. Services Berhad’s (MYEG) proposed Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion in nominal value. The rating outlook is stable. RationaleThe assigned rating reflects MYEG’s established position as a longstanding concessionaire for e-government services, underpinned by its strong information technology ...

Rating action MARC Ratings has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) Sukuk Wakalah Programme of up to RM800.0 million with a stable outlook. The outstanding under the programme stood at RM300.0 million as of October 17, 2022. RationaleThe rating affirmation mainly reflects GCB's strong position in the midstream cocoa supply chain as the largest cocoa grinder in Asia and ...

Rating action MARC Ratings has affirmed its AAIS rating on ANIH Berhad's RM2.5 billion Senior Sukuk Musharakah Programme, with a stable outlook. ANIH is the concessionaire of Kuala Lumpur-Karak Highway (KL-Karak) and Phase 1 of East Coast Expressway (ECE1) until 2032. RationaleThe rating reflects the importance of KL-Karak and ECE1 as essential transportation links to the east coast of M...

Rating actionMARC Ratings has affirmed its AAAIS rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The current outstanding of RM50 million BaIDS is payable on December 2, 2022.Rationale The rating affirmation factors in a three-notch rating uplift for parental support from Putrajaya Ho...

Rating actionMARC Ratings has affirmed its AA-IS(cg) rating on Point Zone (M) Sdn Bhd’s (Point Zone) Sukuk Wakalah Programme guaranteed by parent KPJ Healthcare Berhad (KPJ). Point Zone is a funding conduit set up by KPJ solely for the purpose of issuing the sukuk. The rating reflects the credit strength of KPJ by virtue of the corporate guarantee. The rating outlook is stable. Total outstanding...

Rating action     MARC Ratings has affirmed its AAAIS(fg)  rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Danajamin Nasional Berhad-guaranteed Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on MARC Ratings’ assessment of the credit strength of Danajamin (AAA/Stable) which has provided an unconditional and irrevoc...

Rating actionMARC Ratings has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah, with a stable outlook. The outstanding currently stands at RM240 million.  Rationale     The rating reflects MARC Ratings’ assessment of a very high likelihood of support for Trans Thailand-Malaysia (TTM), a strategically important project involving ...