Rating action          MARC Ratings has affirmed its AA+IS rating on EDOTCO Malaysia Sdn Bhd’s Islamic Medium-Term Notes Programme (Sukuk Wakalah Programme) of up to RM3.0 billion with a stable outlook. The current outstanding stands at RM1.4 billion.Rationale The rating continues to be driven by the solid market position of EDOTCO Malaysia and its subsidiaries...

Rating action          MARC Ratings has assigned a rating of AA-IS/Stable to OCK Group Berhad’s proposed RM400 million Tranche 1 to be issued under a proposed RM700 million Sukuk Murabahah Programme. Rationale OCK is principally involved in telecommunication network services (TNS) that comprise tower leasing, provision of full turnkey solutions, and manage...

Rating action         MARC Ratings has affirmed its rating of AAIS on Northport (Malaysia) Bhd’s RM1.5 billion Sukuk Musharakah Programme with a stable outlook. The outstanding under the programme is RM350 million as at end-August 2023.Rationale      Northport’s well-established operational track record as a key port operator in Port Klang, healthy ...

Rating action          MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM470.0 million Sukuk Ijarah with a stable outlook. KEV owns and operates the Kapar Power Station (KPS), comprising three generating facilities (GF) with a combined nominal capacity of 2,200MW.RationaleThe affirmed rating benefits from a two-notch u...

Rating action                MARC Ratings has maintained its MARCWatch Negative placement on ANIH Berhad’s Senior Sukuk Musharakah Programme rating which has a current outstanding of RM1.48 billion. The rating has been placed on MARCWatch since May 25, 2023, to reflect the uncertainties that arose from the new supplemental concession agreement (S...

Rating action       MARC Ratings has upgraded its rating on Celcom Networks Sdn Bhd’s (CNSB) Sukuk Murabahah Programme of RM5.0 billion to AAAIS from AA+IS. The rating outlook is stable. The outstanding under the programme stood at RM1.15 billion as at end-June 2023.       Rationale        The rating action follows from MARC Ratings’ ...

Rating action          MARC Ratings has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million with a stable outlook. Total outstanding under the sukuk as at end-July 2023 is RM470 million.RationaleSAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns an 80% stake in Ranhill SAJ Sdn Bhd, the exclusi...

Rating action          MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar Dua) outstanding RM92.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. UiTM Solar Dua owns and operates a 25MW solar power plant in Pasir Gudang, Johor.RationaleThe affirmed rating reflects the strength of the 21-ye...

Rating action         MARC Ratings has affirmed its AA-IS rating on SHC Capital Sdn Bhd’s RM80.0 million issuance under its RM200 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. There is no further drawdown expected, but any drawdown will require a reassessment of the rating. Rationale      SHC Capital is a whol...

Rating action          MARC Ratings has affirmed its rating of A+IS on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM182.3 million and revised the outlook to positive from stable.Rationale  The outlook revision reflects the improved operational performance of UiTM Solar’s 50MWac solar photovo...