MARC has affirmed its ratings of AAA, AA and B- on Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN) (Class A MTN), RM50.0 million Senior Class B MTN (Class B MTN) and RM800.0 million Subordinated Class MTN. The ratings outlook is stable. As at April 1, 2019, Special Coral had outstanding Senior Class A MTN of RM200.0 million and Subordinated Class MTN of RM506.3 mi...

MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 2 Medium-Term Notes (MTN) of RM130 million Class A, RM25 million Class B and RM15 million Class C. Concurrently, MARC also affirmed its MARC-1 rating on Kinabalu Capital’s issue of up to RM170 million Commercial Papers (CP). The outlook on all ratings is stable. The issuance of the rated MTN and/...

MARC has issued this update on Kinabalu Capital Sdn Bhd following an increase in the existing issuance amount under Issue 1 from RM185 million under the Commercial Papers/Medium-Term Notes (CP/MTN) Programme to RM220 million. The proceeds of RM35 million from the increase on Issue 1 will be advanced to MRCB Quill-REIT (MQ REIT) as part of their central treasury management. Kinabalu Capital i...

MARC has affirmed its MARC-1 rating but lowered its AA rating to AA- rating on Murud Capital Sdn Bhd’s Senior Commercial Papers/Medium-Term Notes (Senior CP/MTN) programme of up to RM290 million. The ratings outlook remains negative. The rating action assumes a reduction of RM35 million in the outstanding amount of RM279 million of Senior CP/MTN to RM244 million by end-March 2019 through a...

MARC has affirmed its rating of AAA on Inverfin Sdn Bhd’s outstanding RM160 million Tranche A notes under its RM200 million Medium-Term Notes (MTN) programme. The programme limit of the Tranche A notes has been streamlined to match the outstanding amount of RM160 million from RM185 million. Concurrently, the programme limit of the unrated Tranche B notes has been increased to RM40 million. The ...

MARC has affirmed its ratings of MARC-1IS/AA-IS on UEM Sunrise Berhad’s two Islamic Commercial Papers and Islamic Medium-Term Notes programmes (ICP/IMTN-1 and ICP/IMTN-2). The ratings outlook is stable. The ICP/IMTN programmes each has a programme limit of RM2.0 billion with a sublimit of RM500.0 million on the ICP issuances. The ratings affirmation incorporates UEM Sunrise’s longstandin...

MARC has affirmed its rating of AAIS on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook is stable. The rating applies only to ringgit-denominated notes issued under the multi-currency sukuk. Fortune Premiere is a wholly-owned funding vehicle of IOI Properties Group Berhad (IOI Properties) which has provided a...

MARC has affirmed its AA- rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes facility (MTN facility). The rating outlook has been revised to negative from stable. The revised outlook mirrors that of its parent WCT Holdings Berhad (AA-/negative) which has provided a cash deficiency support undertaking that was the basis of a one-notch rating uplift from Segi Astana’s...

MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s (Kinabalu Capital) Issue 1 of RM220 million Class A, RM40 million Class B and RM20 million Class C medium-term notes (MTN). The rating agency also affirmed its MARC-1 rating on the commercial papers (CP) of up to RM280 million under the issuance.&nbs...

MARC has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) issuances under the following programmes: RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS/stable; RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS/stable; RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033) at AAAIS/stable The ratings affirmation is mainly premis...