Rating action          MARC Ratings has affirmed its rating of AA-IS on special purpose funding vehicle TSH Sukuk Murabahah Sdn Bhd’s RM150 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating assessment on TSH Sukuk Murabahah is based on the credit profile of parent TSH Resources Berhad (TSH) which has provided an irrevocable and unc...

Rating action          MARC Ratings has assigned a rating of AA-IS to FGV Holdings Berhad’s (FGV) Sukuk Murabahah Programme of up to RM3.0 billion. The then unrated programme was established in December 2021 with a limit of RM500.0 million and will be upsized to the current limit. The outlook on the rating is stable. RationaleThe assigned rating incorporates a ...

Rating action          MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA and Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) rating of up to RM3.0 billion at AAIS. The two-notch rating differential between SD Plantation’s corporate credit rating and the Perpetual Sukuk Programme rating is in line with ...

Rating action          MARC Ratings has affirmed its rating of AA-IS  on TSH Sukuk Murabahah Sdn Bhd’s RM150 million Medium-Term Notes (IMTN) Programme with a stable outlook. The total outstanding stood at RM90 million as at end-March 2023, with the maturity date on June 16, 2023.The rating assessment on TSH Sukuk Murabahah is based on the strength of its paren...

Rating action      MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA. Concurrently, the rating agency also affirmed its AAIS rating on SD Plantation’s Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion. Both ratings carry a stable outlook.Rationale     The affirmed corporate cr...

Rating action     MARC Ratings has upgraded TSH Sukuk Murabahah Sdn Bhd’s RM150 million Medium-Term Notes (IMTN) Programme rating to AA-IS from A+IS and affirmed its RM50 million Commercial Papers (ICP) Programme rating at MARC-1IS. The ratings outlook is stable.The rating assessment on TSH Sukuk Murabahah is based on the strength of its parent TSH Resources Berhad (TSH) which has...

Rating action     MARC has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA with a stable outlook. The rating agency has concurrently affirmed its AAIS /Stable rating on SD Plantation’s Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion.Rationale     The affirmed ratings are driven by SD Plantation...

Rating action     MARC has affirmed its rating of A+IS on TSH Sukuk Murabahah Sdn Bhd’s Sukuk Murabahah RM150 million Medium-Term Notes (Sukuk Murabahah IMTN) Programme and revised the rating outlook to positive from stable. Concurrently, the rating agency has also affirmed its rating of MARC-1IS on TSH Sukuk Murabahah’s RM50 million Sukuk Murabahah Commercial Papers (Sukuk Mura...

Rating action     MARC has affirmed its rating of A+IS on TSH Sukuk Ijarah Sdn Bhd’s RM300 million Sukuk Ijarah Medium-Term Notes (Sukuk Ijarah IMTN) Programme. The rating outlook has been revised to positive from stableRating assessments on TSH Sukuk Ijarah and TSH Resources Bhd’s (TSH) other funding vehicle TSH Sukuk Murabahah Sdn Bhd, are based on the strength of their parent...

MARC has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA with a stable outlook. Concurrently, the rating agency has affirmed its AAIS /Stable rating on SD Plantation’s Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion. SD Plantation’s sizeable, geographically-diversified and integrated palm oil operations remain k...