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...

Rating action          MARC Ratings has affirmed its ratings on Trusmadi Capital Sdn Bhd’s Issue 1 RM235 million Class A, RM40 million Class B and RM25 million Class C Medium-Term Notes (MTN) at AAA, AA, and A. The rating agency has also affirmed its MARC-1 rating on Trusmadi Capital’s Issue 1 RM300 million Commercial Papers (CP). The MTN and CP are subject to a c...

Rating action              MARC Ratings has affirmed its AAAIS rating on Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion. The total outstanding under the programme stood at RM1.47 billion as at end-May 2024. Aman has informed that it will undertake an early full redemption of the total outstanding sukuk by...

Rating action          MARC Ratings has affirmed its ratings on Sunway Group’s programmes as follows:Sunway Berhad’s RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) Programme at MARC-1/AA-Sunway Berhad’s RM5.0 billion Perpetual Sukuk Programme at AISSunway Treasury Sukuk Sdn Bhd’s RM10.0 billion Islamic Medium-Term Notes (IMTN) Programme at AA-IS; a...

Rating action          MARC Ratings has maintained its rating of AA-IS(cg) on Eco World Capital Berhad’s Islamic Medium-Term Notes (Sukuk Wakalah) Programme, which has now been upsized to RM3.0 billion from RM1.2 billion. The rating outlook is stable. Eco World Capital is the financing vehicle of parent Eco World Development Group Berhad (EcoWorld) which has provide...

Rating action           MARC Ratings has revised its outlook on Tropicana Corporation Berhad’s rated programmes to stable from negative. Concurrently, the ratings on the programmes, the RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) and RM2.0 billion Perpetual Sukuk, have been affirmed at AIS and A-IS.RationaleThe outlook revision considers the impro...

Rating action          MARC Ratings has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 3 of RM113 million Class A, RM21 million Class B and RM11 million Class C Medium-Term Notes (MTN). The outlook on all ratings is stable.Rationale The affirmed ratings reflect the loan-to-value (LTV) ratios of the classes under the issuance that...

Rating action          MARC Ratings has affirmed its rating on Sime Darby Property Berhad’s (SD Property) RM4.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) at AA+IS with a stable outlook. The outstanding under the rated programme stood at RM1.4 billion as of November 30, 2023.RationaleSD Property’s strong sales track record in well-establ...

Rating action          MARC Ratings has assigned a rating of AA-IS to LBS Bina Group Berhad’s proposed Islamic Medium-Term Notes Programme of up to RM750.0 million. The rating outlook is stable. The planned first issuance under the programme of up to RM200.0 million will be mainly used to refinance existing borrowings.RationaleThe assigned rating is mainly premised ...

Rating action          MARC Ratings has affirmed its rating of AAIS on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook is stable. Fortune Premiere is a funding vehicle of IOI Properties Group Berhad (IOI Properties) which has provided an unconditional and irrevocable guarantee on the p...