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 actionMARC Ratings has upgraded Northport (Malaysia) Bhd’s RM1.5 billion Sukuk Musharakah programme rating to AAIS from AA-IS. Concurrently, the rating agency has revised the rating outlook to stable from positive.RationaleThe rating upgrade is premised on Northport’s sustained strong profitability metrics, resulting in strong cash flow from operations (CFO) interest and debt coverage r...

Rating actionMARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The outlook on the ratings has been revised to positive. RationaleThe outlook revision incorporates the continued improvement in Northport’s credit metrics on the back of substantial growth in its ...

MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The outlook on the ratings is stable.The ratings affirmation is mainly driven by Northport’s established position in providing container and conventional cargo handling services through North Port and Southpoint in ...

MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The outlook on the ratings is stable. The rated programmes have a combined limit of RM1.5 billion and the outstanding under the programmes was RM450 million as at end-December 2019. The ratings primarily reflect ...

MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Berhad’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The outlook on the ratings is stable. The rated programmes have a combined limit of RM1.5 billion and the outstanding under the programmes was RM450 million as at end-January 2019. Northport is a port operato...

MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme respectively. The outlook on the ratings is stable. The ratings affect the outstanding amount of RM450 million as at December 31, 2017 under the rated programmes which have a combined limit of RM1.5 billion. Nort...

MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme respectively (collectively Sukuk Musharakah Programmes). The outlook on the ratings is stable. The ratings affect the outstanding amount of RM350 million as at December 31, 2016 under the rated programmes which have a...

MARC has affirmed its ratings of MARC-1IS and AA-IS on concessionaire Northport (Malaysia) Bhd’s (NMB) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme respectively (collectively known as Sukuk Musharakah Programmes). The outlook on the ratings is stable. The affirmed ratings incorporate NMB’s operating track record stemming from its location on a ...

MARC has assigned ratings of MARC-1IS and AA-IS to port operator Northport (Malaysia) Bhd’s (NMB) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme respectively (collectively known as Sukuk Musharakah Programmes) with a joint limit of up to RM1.5 billion. The outlook on the ratings is stable. The ratings incorporate NMB’s strategic importance as o...