Rating actionMARC Ratings has affirmed its MARC-1/AA- ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) Programmes. Concurrently, the ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) Programmes have been affirmed a...

Rating action     MARC Ratings has affirmed its rating of AAA on Inverfin Sdn Bhd’s outstanding RM160 million Tranche A notes under the Medium-Term Notes (MTN) programme. The rating outlook has been revised to stable from negative.Rationale     The rating affirmation is based on the loan-to-value (LTV) ratio of the Tranche A notes of 41.9% that is within the benchma...

Rating action     MARC Ratings has affirmed its ratings of AAA, AA and B- on special purpose vehicle Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings outlook is stable.Rationale     The ratings reflec...

Rating action     MARC Ratings has affirmed its AAIS rating on S P Setia Berhad’s RM3.0 billion Islamic Medium-Term Notes Programme with a stable outlook. The initial proceeds of RM800 million from the issuance had largely been used to fund capital injections into the group’s joint venture (JV) Battersea Power Station in the United Kingdom (Battersea Project).Rationale  &nb...

Rating action     MARC Ratings has assigned rating of A+IS to YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme of up to RM700 million (Sukuk Wakalah). The rating carries a stable outlook.Rationale     The rating is based on YNH’s lengthy track record in property development, its low inventory level and strong profitability margins. The rating is als...

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

Rating action     MARC Ratings has assigned long-term ratings of AAA, AA and A to 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     Kinabalu Capital is a special purpose funding vehicle set up by parent Sentral REIT, a trust that owns ...

Rating action     MARC has affirmed its ratings on Berjaya Land Berhad's (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The ratings of AAA(fg) and AAA(bg) carry a stable outlook. Rationale     The affirmed rat...

Rating action     MARC has affirmed its AA+IS rating with a stable outlook on Sime Darby Property Berhad's (SD Property) Islamic Medium-Term Notes Programme of RM4.5 billion under the Shariah principle of Musharakah (Sukuk Musharakah Programme).Rationale     The key rating drivers are SD Property's well-established position as a township developer and strong sales tra...

Rating action     MARC has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook has been revised to negative from stable. Fortune Premiere is a funding vehicle for its parent IOI Properties Group Berhad (IOI Properties) which has extended an unconditional and irrevocable guaran...