Rating action          MARC Ratings has affirmed its ratings of AIS(cg)/MARC-1IS(cg) on special purpose funding vehicle SkyWorld Capital Berhad’s RM300.0 million Islamic Medium-Term Notes/Islamic Commercial Papers (IMTN/ICP) Programmes. The rating outlook is stable. The ratings reflect the credit profile of parent, SkyWorld Development Berhad (SkyWorld), which has e...

Rating action           MARC Ratings has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable.     Rationale      The rating affirmation is mainly premised on the sufficiency of the periodic payment streams from the Malaysian governm...

Rating action           MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) sukuk programmes as follows:• RM1.0 billion 20-year Sukuk Wakalah Programme (due 2041) at AAAIS• RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS• RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS; and• RM1.5 billion Sukuk Musharakah M...

Rating action          MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM300 million Islamic Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed the existing MARC-1IS rating on the group’s RM150 million ICP programme which will expire on November 8, 2024. The new progra...

Rating action          MARC Ratings has assigned a preliminary rating of AA-IS to special purpose funding vehicle WM Senibong Capital Berhad’s (WMSC) proposed Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM1.0 billion. The rating outlook is stable. WMSC is wholly owned by WM Senibong Sdn Bhd. RationaleThe rating reflects the credit strength of p...

Rating action           MARC Ratings has assigned a preliminary rating of AIS to Tropicana Corporation Berhad’s proposed RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) and concurrently affirmed its ratings of AIS on the RM1.5 billion IMTN (Sukuk Wakalah) and A-IS on the RM2.0 billion Perpetual Sukuk. The outlook on all ratings is stable. Rationa...

Rating action          MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM30.0 million Fixed Rate Serial Bonds. The rating outlook is stable. RationaleThe rating reflects the credit strength of AEON Co (M) Berhad (AEON), which, as the principal lessee of CISB-owned AEON Mall Ipoh Klebang, makes periodic fixed lease pay...

Rating action          MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable.RationaleThe rating affirmation incorporates Sunsuria’s conservative property development approach, healthy overall take-up rates and low inventory level. The rating also factors in the group’s low-to-mode...

Rating action          MARC Ratings has affirmed Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) rating at A+ and revised the rating outlook to positive from stable. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. The gateway...

Rating action          MARC Ratings has affirmed its AAIS rating on S P Setia Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. Rationale The rating reflects S P Setia’s established domestic market position in township development, its proven sales track record and considerable landbank in strategic locations that w...