Rating action     MARC Ratings has assigned ratings of MARC-1IS /AA-IS to UEM Sunrise Berhad’s Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined nominal value of RM4.0 billion (ICP/IMTN-3). The rating agency has concurrently affirmed the existing ratings of MARC-1IS /AA-IS on its two ICP and IMTN programmes (ICP/IMTN-1 and ICP...

Rating action     MARC Ratings has assigned long-term ratings of AAA, AA and A to Kinabalu Capital Sdn Bhd’s Issue 3 of RM113 million Class A, RM21 million Class B and RM11 million Class C Medium-Term Notes (MTN). The outlook on all ratings is stable.Rationale     Kinabalu Capital is a special purpose funding vehicle set up by parent Sentral REIT, a trust that owns ...

Rating action     MARC has affirmed its ratings on Berjaya Land Berhad's (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The ratings of AAA(fg) and AAA(bg) carry a stable outlook. Rationale     The affirmed rat...

Rating action     MARC has affirmed its AA+IS rating with a stable outlook on Sime Darby Property Berhad's (SD Property) Islamic Medium-Term Notes Programme of RM4.5 billion under the Shariah principle of Musharakah (Sukuk Musharakah Programme).Rationale     The key rating drivers are SD Property's well-established position as a township developer and strong sales tra...

Rating action     MARC has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook has been revised to negative from stable. Fortune Premiere is a funding vehicle for its parent IOI Properties Group Berhad (IOI Properties) which has extended an unconditional and irrevocable guaran...

Rating action     MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-September 2021.Rationale     The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas, a...

Rating action     MARC has assigned long-term ratings of AAA, AA and A to Trusmadi Capital Sdn Bhd’s issue of RM235 million Class A, RM40 million Class B, and RM25 million Class C Medium-Term Notes (MTN). Concurrently, the rating agency has assigned a MARC-1 rating to Trusmadi Capital’s issue of up to RM300 million Commercial Papers (CP). The rated MTN and/or CP issuances are su...

Rating action     MARC has assigned preliminary ratings of MARC-1IS /AA-IS to UEM Sunrise Berhad’s proposed Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined nominal value of RM4.0 billion (ICP/IMTN-3). The rating agency has concurrently affirmed the existing ratings of MARC-1IS /AA-IS on its two ICP and IMTN programmes (ICP/I...

Rating action          MARC has affirmed its MARC-1/AA- ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) Programmes, and MARC-1IS(cg)/AA-IS(cg) ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Papers/Islamic Medium-Term Notes (...

Rating action     MARC has affirmed its AAAIS rating on Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion with a stable outlook. Rationale      The rating affirmation reflects the credit strength of the Malaysian government as the sole obligor of the annual sublease rental payments, the quantum of which is deemed...