Rating action          MARC Ratings has affirmed its ratings of MARC-1IS and A+IS on George Kent (Malaysia) Berhad’s RM100.0 million Islamic Commercial Papers (ICP) Programme and RM500.0 million Islamic Medium-Term Notes (IMTN) Programme, subject to a combined limit of RM500.0 million. The rating outlook is stable. As of end-May 2024, total outstanding stood at RM13...

Rating action              MARC Ratings has affirmed its AA+IS rating on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) and its AA-IS rating on the RM2.0 billion Perpetual Sukuk Programme. The outlook for all ratings is stable. The outstanding under the programmes stood at RM1.25 billion and RM1...

Rating action          MARC Ratings has affirmed its AA- rating on 7-Eleven Malaysia Holdings Berhad’s (7-Eleven Holdings) RM600.0 million Medium-Term Notes (MTN) Programme with a stable outlook. RationaleThe rating affirmation reflects 7-Eleven Holdings’ entrenched market position in the domestic convenience store segment, long operating track record, and he...

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 assigned a preliminary rating of MARC-1 to Merchantrade Asia Sdn Bhd’s (Merchantrade) proposed Multi-Currency Commercial Papers (CP) Programme of up to RM200 million in nominal value. The rating is confined to ringgit-denominated issuances under the proposed programme. RationaleThe assigned rating incorporates Merchantrad...