Global Markets          10y UST yield pushed closer to 3% in April – a level not seen since late 2018. Hot inflation, uncertainties from external factors such as the Ukraine-Russia military conflict and market expectations of the hawkish move by the Fed on FFR dragged the yields upwards. ECB confirmed that it would conclude its net asset purchases in 3Q2022, which o...

Rating action        MARC Ratings has affirmed its ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM40.0 million outstanding Islamic Medium-Term Notes (IMTN) at AAIS and its RM350.0 million outstanding guaranteed IMTN at AAAIS(fg).The outlook on the ratings is stable. RationaleThe AAIS  rating reflects the favourable terms under the power purchase agreement (...

Rating action     MARC Ratings has affirmed its AAIS rating to Kimanis Power Sdn Bhd’s (KPSB) outstanding RM585.0 million Sukuk Programmes (sukuk). The rating outlook is stable.Rationale     The rating affirmation reflects KPSB’s steady cash flow generation attributed to the consistent performance of its plant to exceed the minimum requirements under the Power Pur...

Rating action     MARC Ratings has assigned a preliminary rating of AAAIS to Amanat Lebuhraya Rakyat Berhad’s (ALR) proposed sukuk programme of up to RM5.5 billion. The rating outlook is stable.Rationale     The assigned rating reflects the strength and the proven revenue-generating capacity of ALR’s portfolio of matured highways in the Klang Valley, the healthy f...

Rating action        MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s outstanding sukuk of RM1.32 billion with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, a 100% indirectly-owned subsidiary of Tenaga Nasional Berhad (TNB). TNB Prai operates a 1,071.43MW combined-cycle gas turbine (CCGT) power plant (comprisin...