Rating action          MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM320.0 million Sukuk Ijarah with a stable outlook. KEV owns and operates the Kapar Power Station (KPS), comprising three generating facilities (GF) with a combined nominal capacity of 2,200MW.Rationale          The aff...

Rating action                 MARC Ratings has upgraded Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme rating to AAIS from AA-IS and accordingly revised the rating outlook to stable from positive.RationaleEvyap Malaysia’s healthy operational and financial performance, and sustained strong credit metrics ...

Rating action          MARC Ratings has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million with a stable outlook. Total outstanding under the sukuk as at end-June 2024 is RM420 million.RationaleSAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns 80% of Ranhill SAJ Sdn Bhd, the exclusive provid...

Rating action                  MARC Ratings has assigned a preliminary rating of AA-IS to Power Root Berhad’s proposed RM500.0 million Islamic Medium-Term Notes (IMTN) Programme. The rating outlook is stable. RationaleThe assigned rating is premised on Power Root’s established position in the instant beverage sector, supported by an extens...

Rating action          MARC Ratings has affirmed Sabah’s sub-sovereign credit rating of AAA with a stable outlook, based on its sub-sovereign rating scale.  Rationale The rating reflects, to a significant extent, Sabah’s natural resource wealth, with the agricultural and mining sectors collectively accounting for 38.5% of the state’s gross domesti...