Credit Analysis Reports - Category: Property
Displaying 1-10 of 363 results.
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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...


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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...


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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 ...


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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...


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Rating action          MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UDA Holdings Berhad’s (UDA) Islamic Commercial Papers (ICP) Programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion, with a combined aggregate limit of up to RM1.0 billion. The ratings outlook is stable. RationaleThe ratings incorpo...


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Rating action          MARC Ratings has upgraded Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme short-term rating to MARC-1IS from MARC-2IS. RationaleThe rating upgrade reflects Titijaya’s stronger long-term credit profile, with improved business profile and healthier balance sheet, characterised by lower leverage an...


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Rating action          MARC Ratings has affirmed its ratings of AIS(cg)/MARC-1IS(cg) on SkyWorld Capital Berhad’s RM300.0 million Islamic Medium-Term Notes/Commercial Papers (IMTN/ICP) Programmes. The rating outlook is stable. SkyWorld Capital is the funding vehicle of parent SkyWorld Development Bhd (SkyWorld) to undertake the sukuk issuance. SkyWorld has extended ...


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Rating action          MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to AIS. Concurrently, the rating outlook has been revised to negative from stable. As at end-October 2023, the total outstanding amount stood at RM323.0 million under the RM700 million Sukuk Wakalah programme.RationaleThe r...


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Rating action          MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UEM Sunrise Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) Programme (ICP/IMTN-3) with a combined nominal value of RM4.0 billion. The rating agency has also affirmed its ratings of AA-IS on UEM Sunrise’s two RM2.0 billion IMTN Programmes (IMTN-1 and IMT...


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Rating action         MARC Ratings has assigned ratings to Sunway Group’s existing unrated sukuk and unrated debt as follows: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.MARC Ratings has concurrently affirmed the existing ratings on Sunway Group’s fol...


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