MARC has affirmed its rating of AAAIS(fg) on Antara Steel Mills Sdn Bhd’s (Antara) RM300.0 million Sukuk Mudharabah Programme with a stable outlook. The affirmed rating and outlook are underpinned by the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer strength rating of AAA/stable from MARC. Antara’s st...

MARC has affirmed Malayan Banking Berhad’s (Maybank) financial institution and RM10.0 billion Senior Medium-Term Note (MTN) programme ratings at AAA/MARC-1 and AAA respectively. The outlook on the ratings is stable. The ratings incorporate Maybank’s very strong market position as the largest domestic bank underpinned by a well-established banking franchise as well as its strong capitalisation...

MARC has affirmed the long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The outlook on the ratings is stable. The ratings are mainly driven by the investment bank’s strong capital position, healthy liquidity levels and prudent investment policy. The ratings are moderated by KAF Investment’s susceptibility to domestic ...

MARC has affirmed its rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme of AA+IS. The outlook has been revised to negative from stable. CNSB provides network telecommunication services to its parent, Celcom Axiata Berhad (Celcom), through network telecommunication assets. The rating and outlook are premised on the overall credit profile of Celcom group give...

MARC has affirmed Maybank Islamic Berhad’s (Maybank Islamic) long-term and short-term financial institution (FI) ratings of AAA and MARC-1 respectively with a stable outlook. The long-term rating of Maybank Islamic is equalised with the rating of its parent Malayan Banking Berhad (Maybank) on the basis of the former’s significance as Maybank’s Islamic banking arm and its contribution to gro...

MARC has affirmed its rating on Talam Transform Berhad’s (Talam) outstanding RM52.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-IS with a stable outlook. The rating reflects the group’s weak financial position, its limited business prospects as well as its continued reliance on timely asset disposals to meet its substantial financial obligations. Talam’s ca...

MARC has affirmed its rating of AA- with a stable outlook on Central Impression Sdn Bhd’s (CISB) 11-year Fixed Rate Serial Bonds of RM120.0 million. The affirmed rating reflects the credit strength of AEON Co. (M) Berhad (AEON) as the principal lessee of the AEON Klebang shopping mall which is owned and was developed by CISB from the bond proceeds. The fixed lease rental payments from AEON...

MARC has affirmed its ratings of AAAIS(bg) and AAAIS(fg) on Ranhill Capital Sdn Bhd’s (Ranhill Capital) RM300 million bank-guaranteed (Tranche 1) and RM500 million Danajamin-guaranteed (Tranche 2) Sukuk Musharakah facilities respectively. The outlook on the ratings is stable. The ratings on Tranche 1 and Tranche 2 reflect the credit strength of the unconditional and irrevocable guarantees from ...

MARC has assigned a rating of AA-IS to toll concessionaire Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) proposed RM3.64 billion Sukuk Wakalah with a stable outlook. DUKE 3 was incorporated by Ekovest Berhad (Ekovest) to undertake the design, construction, financing, operations and maintenance of the DUKE Phase 3 expressway under a concession agreement with the Malaysian government in Janua...

MARC has downgraded its rating on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion to A+IS from AA-IS. Concurrently, the rating agency has lowered the rating on the Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion to A-IS from AIS. The outlook on all ratings has been revised to stable from negative. The rating actions ...