Rating action          MARC Ratings has affirmed its short-term rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding under the programme stood at RM30.0 million as of November 15, 2022.RationaleThe rating affirmation incorporates Titijaya’s track record in developing projects in and around...

Rating actionMARC Ratings has assigned a rating of AA-IS(cg) to Eco World Capital Berhad’s Islamic Medium-Term Notes programme of RM1.2 billion under the Shariah principle of Wakalah Bi Al-Istithmar (Sukuk Wakalah programme). The rating outlook is stable. Eco World Capital is wholly owned by Eco World Development Group Berhad (EcoWorld) and is the financing vehicle that will undertake the issuan...

Rating action     MARC Ratings has affirmed its ratings of MARC-1IS /AA-IS on UEM Sunrise Berhad’s two Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) programmes (ICP/IMTN-1 and ICP/IMTN-2) with a total combined nominal value of RM6.0 billion. The rating agency has also affirmed its AA-IS rating on UEM Sunrise’s RM2.0 billion IMTN programme (IMTN-1). The lon...

Rating action     MARC Ratings has affirmed its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) facility at A+ and concurrently revised the rating outlook to stable from negative. The outstanding under the rated facility stands at RM310.0 million as of September 19, 2022. Segi Astana is the concessionaire for the integrated complex, gateway@klia...

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.      Rationale     The rating affirmation incorporates Sunsuria’s development approach through joint ventures, its low net leverage and strong liquidity position. The rating also factors in t...

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 affirmed rating is driven by the steady periodic payment streams in the form of availability charges (AC) f...

Rating action     MARC Ratings has affirmed its ratings on Tropicana Corporation Berhad’s RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) and RM2.0 billion existing Perpetual Sukuk programme at A+IS and AIS. The ratings outlook is maintained at negative. As at end-May 2022, the outstanding of the Sukuk Wakalah and Perpetual Sukuk programme stood at RM1.5 billion ...

Rating action     MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) issuances under the following programmes: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; andRM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN)...

Rating action     MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM60 million Fixed Rate Serial Bonds. The rating outlook has been revised to stable from negative. Rationale     The affirmed rating is driven by the credit strength of AEON Co (M) Berhad (AEON), a 51.7%-owned subsidiary of Japan-based AEON Co Ltd (AEON...

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 with a stable outlook.Rationale      The rating affirmation reflects the credit strength of the Malaysian government as the sole obligor of the annual sublease rental payments, and the q...