MARC has affirmed the ratings of Cellular Structures Sdn Bhd’s (CSSB) RM184.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Facility (Senior Notes) at MARC-1ID /AAID. The ratings reflect the credit strength of the telecommunication operators (telcos) which are contractually obligated to make fixed monthly rental payments for the towers over a p...

MARC has affirmed the ratings of special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Facility (Senior Notes) at MARC-1ID /AAID. The ratings reflect the credit strength of the telecommunication operators (telcos) as the source of repayment for the notes backed by a 10-year ...

MARC has affirmed the ratings of special purpose company Serrisa Sinar Berhad’s (Serrisa Sinar) RM200 million ICP/IMTN notes (Senior Notes) and RM20 million Junior IMTN (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The outlook on the ratings is stable. The ratings reflect the credit quality of the rental payment stream from creditworthy telecommunication companies as the source of ...

MARC has assigned AAA insurer financial strength rating to Danajamin Nasional Berhad (Danajamin). The rating outlook is stable. The rating and outlook on the rating reflect Danajamin’s important role and status as Malaysia’s first and sole financial guarantee insurer (FGI) and government-sponsored entity, respectively. Licensed under the Insurance Act 1996 and regulated under the Insur...

MARC has affirmed Musyarakah One Capital Berhad’s (Musyarakah One) Sukuk Musyarakah Series 2005-A under its RM2,500 million Sukuk Musyarakah Programme at AAAIS. The outlook on the rating is stable. The affirmation is premised on the underlying credit strength of the Government of Malaysia (GOM) as the sole obligor under the supply contracts from which the receivables backing the sukuk arise....

MARC has assigned ratings of AAAIS and MARC-1IS to Pinnacle Tower Sdn Bhd’s (PTSB) RM400.0 million Islamic Medium Term Notes (IMTN) and RM50.0 million Islamic Commercial Papers (ICP) (Islamic Securities), respectively. The ratings carry a stable outlook. PTSB, wholly-owned by Sarawak-based Sacofa Sdn Bhd (Sacofa), was incorporated for the sole purpose of raising financing via the issuance of...

MARC has affirmed its ratings of MARC-2ID  / AID on Symphony House Berhad’s (Symphony) RM100.0 million Islamic Commercial Papers / Medium Term Notes (Islamic CP/MTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect Symphony’s dominance in the domestic market position in providing outsourced business process, the positive growth prospects of its business ...

MARC has affirmed the ratings of special purpose company Tele-Flow Capital Sdn. Bhd.’s (Tele-Flow Capital) RM90.0 million MUNIF/IMTN Facility (Senior Notes) and RM10.0 million Junior IMTN Facility (Junior Notes) at MARC-1ID /AAID and AID, respectively. The ratings reflect the credit strength of the telecommunication companies (telcos) as the source of repayment for the notes backed by a 10-y...

MARC has affirmed the ratings of Cellular Structures Sdn. Bhd.’s (CSSB) RM184.0 million Senior MUNIF/IMTN (Senior Notes) and RM8.0 million Junior IMTN (Junior Notes) at MARC-1ID / AAID  and AID  respectively. The ratings reflect the credit strength of the telecommunication companies (telcos) which are contractually obligated to make fixed monthly rental payments for the towers over...

MARC has reaffirmed the AAAIS  rating of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A. The rating reflects the transaction structure of the receivables-backed sukuk issuance as well as the underlying credit quality of the sole obligor, the Government of Malaysia (GOM). The receivables backing the sukuk constitute irrevocable and unconditi...