MARC has downgraded the long-term ratings of Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Medium-Term Notes Programmes to AA(cg) and AAID(cg) from AA+(cg) and AA+ID(cg) respectively. The short-term ratings on the Conventional and Islamic Commercial Papers under the same programmes have been maintained at MARC-1(cg) and MARC-1ID(cg) respectively. ...

MARC has assigned a final rating of AIS to DRB-HICOM Berhad’s (DRB-HICOM) Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. Concurrently, the rating agency has affirmed its AA-IS rating on DRB-HICOM’s existing Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion. Both ratings carry a stable outlook.  The two-notch rating differential between the ...

MARC has affirmed the ratings of AA-IS and AIS on funding vehicle Alpha Circle Sdn Bhd’s (Alpha Circle) RM540 million Senior Sukuk Musharakah (Senior Sukuk) and RM55 million Junior Sukuk Musharakah (Junior Sukuk) respectively under a Sukuk Musharakah programme. The ratings carry a stable outlook. The two-notch rating differential between the Senior Sukuk and the Junior Sukuk reflects the la...

MARC has affirmed its AAA(bg) and AAA(fg) ratings on investment holding company Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million seven-year bank-guaranteed Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million nine-year Danajamin-guaranteed MTN Programme (Tranche 2) respectively. The outlook for both ratings is maintained at stable. The affirmed rating on Tranche 1...

MARC has affirmed its rating of AAA(fg) on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds (Guaranteed Serial Bonds) of up to RM320 million with a stable outlook. The rating and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA/stable. As t...

MARC has affirmed its AA-IS rating on Weststar Capital Sdn Bhd’s (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Weststar Capital, a wholly-owned subsidiary of offshore helicopter service provider Weststar Aviation Services Sdn Bhd (Weststar), was set up for the sole purpose of facilitating the issuance of the sukuk.  The sukuk is secured by the right...

MARC has affirmed its AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM61 million Istisna’ Serial Bonds with a stable outlook. The affirmed rating and outlook reflect the irrevocable and unconditional undertaking by the Sarawak state government, via its State Financial Secretary (SFS), to provide timely cashflows to meet repayments for...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The affirmed ratings incorporate Sime Darby group’s well-diversified business profile that ...

MARC has affirmed its AAAID rating on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) programme. The outlook on the rating is maintained at stable. The rating action incorporates the group’s leading position in the LNG shipping segment derived largely from its long-term contracts with its parent company Petroliam Nasional Berhad (PETRONAS) as well as MISC’s moderate...

MARC has affirmed the rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of E...