MARC has affirmed its AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating of KPA benefits from state support and is aligned to MARC’s public information rating on the Sarawak State Government (SSG) of AAA/Stable. KPA is the operator of Kuching Port.MARC’s assessment of high...

MARC has assigned ratings of AA-IS  and A- to Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) issuances of up to RM2,300 million in nominal value Islamic medium term notes programme (Sukuk Musharakah or Senior Sukuk) and RM180 million redeemable secured junior bonds (Junior Bonds) due 2034, respectively. The rating outlook is stable. Kesturi is the concession holder of the Duta-Ulu ...

MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110.0 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (Senior Notes) and RM10.0 million Junior IMTNs (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The outlook on the ratings is revised to negative from stable. The rating action affects RM23 million of outstanding notes, comprising RM20...

MARC has assigned rating of AAA(IS) with a stable outlook to Putrajaya Management Sdn Bhd’s (PMSB) proposed Islamic Medium Term Notes (Sukuk Wakalah) programme of up to RM370.0 million. The proceeds from the issuance will be mainly utilised to finance the construction of the 31-storey Ministry of International Trade and Industry (MITI) office tower, which is being undertaken by PMSB under a ...

MARC has assigned final ratings of MARC-1IS /AAAIS ratings to PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers and Islamic Medium Term Notes (ICP/IMTN) Programme of up to RM2.0 billion under the Islamic principle of Murabahah with a stable outlook. The ratings are equalised with MARC’s public information ratings on Petroliam Nasional Berhad’s (PETRONAS) AAA/MARC-1/Stabl...

MARC has affirmed the rating of Alloy Properties Sdn Bhd’s (APSB) outstanding RM216 million Sukuk Musyarakah Medium Term Notes Programme at AAIS. The rating outlook is stable. The outstanding notes are serviced by APSB’s rental income from its two office buildings and assigned cash flows from sister companies Alloy Toll Management Sdn Bhd (ATM) and Alloy Maintenance Engineering Sdn Bhd...

MARC has affirmed its AAAIS(fg) rating on Senari Synergy Sdn Bhd’s (Senari Synergy) RM380 million Islamic Medium Term Notes (IMTN) Programme. The outlook on the rating is stable. The affirmed rating and outlook is underpinned by an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) on the sukuk obligations. MARC’s current AAA/stable rating for Dan...

MARC has removed its AA-ID rating on Maju Expressway Sdn Bhd's (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme from MARCWatch Negative and affirmed the rating with a stable outlook. MESB holds the concession for the 26-kilometre Maju Expressway (MEX) which links the Kuala Lumpur City Centre with Putrajaya and Cyberjaya. MARC had put MESB on negative watch on September 5, 2013, la...

MARC has affirmed its rating on ANIH Berhad's (ANIH) RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) at AAIS with a stable outlook. ANIH is the concessionaire for the Kuala Lumpur-Karak Highway (KL-Karak), Phase 1 of the East Coast Expressway (ECE1) and the Kuala Lumpur-Seremban Expressway (KL-Seremban). The affirmed rating continues to be underpinned by the strong competitive po...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million sukuk programme (sukuk) with a stable outlook. The rating reflects an anticipated base-load position of the project, a 285-megawatt (MW) combined-cycle gas turbine power plant in Kimanis Bay, on the Sabah state's electricity dispatch curve. Other credit strengths of the project include its supportive long-term p...