MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s RM470.0 million Islamic Securities (Sukuk Wakalah) with a stable outlook. The rating reflects the credit strength of the issuer’s parent, Malakoff Power Berhad (MPower), which has provided an unconditional and irrevocable undertaking in the form of cash deficiency support to top up any shortfall in the finance service re...

MARC has assigned a final rating of AA-IS to port operator Penang Port Sdn Bhd’s (PPSB) proposed Islamic Medium-Term Notes Issuance Programme of up to RM1.0 billion. The rating carries a stable outlook. PPSB operates Penang Port under a long-term concession agreement expiring on December 31, 2041. Proceeds from the proposed issuance will be entirely used to refinance PPSB’s maturing RM1.0 bil...

MARC has affirmed its ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) programmes at MARC-1/AA-. Concurrently, the ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Paper/ Islamic Medium-Term Notes (ICP/ IMTN) programmes have been affirmed at MARC-1IS(cg)/A...

MARC has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA, and its Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion at AAIS. The ratings outlook is stable. The affirmed corporate credit rating is driven by SD Plantation’s strong cash flow generating ability from its sizeable, geographically-diversified and integrated oi...

MARC has affirmed its long-term and short-term counterparty credit ratings of AAA/MARC-1 on Credit Guarantee and Investment Facility (CGIF) with a stable outlook. The ratings are based on Malaysia’s national rating scale.   The affirmed ratings reflect CGIF’s strong capital and liquidity position which are underpinned by sound policy guidelines and governan...

MARC has affirmed its A+IS(s) rating on Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd’s (PLSUKE) Sukuk Wakalah Programme (Sukuk Wakalah) of up to RM2.0 billion. The rating outlook remains negative. Concurrently, the rating agency has affirmed its AAAIS(fg)/Stable rating on PLSUKE’s Danajamin-Guaranteed Facilities (Danajamin-Guaranteed Sukuk) of up to RM500.0 million. Danajamin Nasional Be...

MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFH Malaysia) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 with a stable outlook. The FI ratings are based on the national rating scale.The ratings are based on MARC’s expectation of strong support from KFH Malaysia’s parent company, Kuwait Finance House KSC (KFH) on which MARC has affirmed its public...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable.  The affirmed rating is mainly driven by UiTM Solar’s 21-year power purchase agreement with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national powe...

MARC has affirmed its rating of AA- on Sports Toto Malaysia Sdn Bhd’s (Sports Toto) RM800.0 million 15-year Medium-Term Notes (MTN) Programme. The rating carries a stable outlook. The affirmed rating is primarily driven by Sports Toto’s strong and steady cash flow generation and its entrenched market position in the domestic number forecast operator (NFO) gaming sector. The key moderating fac...

MARC has affirmed its rating of AA-IS on toll concessionaire Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) RM3.64 billion Sukuk Wakalah. The rating outlook remains negative. DUKE 3, a wholly-owned subsidiary of Ekovest Berhad (Ekovest), is undertaking the design, construction, financing, operations and maintenance of the 32.1-km Setiawangsa-Pantai Expressway (SPE) in Kuala Lumpur. SPE will conne...