Rating action          MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM300 million Islamic Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed the existing MARC-1IS rating on the group’s RM150 million ICP programme which will expire on November 8, 2024. The new progra...

Rating action          MARC Ratings has affirmed its AAA financial institution (FI) rating on Bank Pertanian Malaysia Berhad (Agrobank). Concurrently, the rating agency has also affirmed its AAAIS rating on Agrobank’s Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. RationaleThe ratings reflect MARC Ratings’ view of a very high proba...

Rating action          MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. RationaleTNB’s strong credit profile reflects its monopoly on electricity transmission in Peninsular Malaysia and Sabah, its status as the largest domestic electricity producer, distributor and retailer, and the favourable Ince...

Rating action          MARC Ratings has assigned a preliminary rating of AA-IS to special purpose funding vehicle WM Senibong Capital Berhad’s (WMSC) proposed Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM1.0 billion. The rating outlook is stable. WMSC is wholly owned by WM Senibong Sdn Bhd. RationaleThe rating reflects the credit strength of p...

Rating action           MARC Ratings has assigned a preliminary rating of AIS to Tropicana Corporation Berhad’s proposed RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) and concurrently affirmed its ratings of AIS on the RM1.5 billion IMTN (Sukuk Wakalah) and A-IS on the RM2.0 billion Perpetual Sukuk. The outlook on all ratings is stable. Rationa...

Rating action          MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM30.0 million Fixed Rate Serial Bonds. The rating outlook is stable. RationaleThe rating reflects the credit strength of AEON Co (M) Berhad (AEON), which, as the principal lessee of CISB-owned AEON Mall Ipoh Klebang, makes periodic fixed lease pay...

Rating action          MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar Power Dua) outstanding RM87.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor.RationaleThe affirmed rating reflects the strengt...

Rating action          MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable.RationaleThe rating affirmation incorporates Sunsuria’s conservative property development approach, healthy overall take-up rates and low inventory level. The rating also factors in the group’s low-to-mode...

Rating action          MARC Ratings has affirmed its A+IS rating on Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes (IMTN) Programme (Senior Sukuk). Concurrently, the rating agency has also affirmed its A-IS rating on the group’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential betwe...

Rating action          MARC Ratings has affirmed Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) rating at A+ and revised the rating outlook to positive from stable. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. The gateway...