MARC has assigned final ratings of AA-IS and AIS to Alpha Circle Sdn Bhd’s (Alpha Circle) RM540.0 million Senior Sukuk Musharakah and RM55.0 million Junior Sukuk Musharakah respectively under the Sukuk Musharakah programme. The outlook on the ratings is stable.Upon the receipt of the final documentation of the forthcoming issuance, MARC is satisfied that the terms and conditions of the Sukuk...

MARC has affirmed its AAA(fg) rating on TRIplc Ventures Sdn Bhd’s (TVSB) up to RM240.0 million Senior Medium Term Notes (Senior MTNs) with a stable outlook. The rating reflects the credit strength of an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) on TVSB’s debt service obligations in relation to its Senior MTNs. Danajamin carries ...

MARC ‎has withdrawn its A+ insurer financial strength (IFS) rating on BEST RE Family (L) Limited (BEST RE Family) at the family retakaful operator's request. MARC has not been able to update the rating prior to withdrawing it as the rating agency is unable to reassess the two notch ultimate parent support uplift currently embedded in BEST RE Family's IFS rating.‎ This is because MARC has n...

MARC has affirmed the rating of AAAIS(fg) on Symphony Life Berhad’s (Symphony Life) RM230 million  seven-year Islamic Medium Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are underpinned by an unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) on the IMTN Programme. MARC currently rates Danajamin at AAA/...

MARC has issued this rating update as part of its ongoing surveillance process on its A+IS(cg) rating/Negative outlook on KMCOB Capital Berhad’s (KMCOB) Sukuk Murabahah Medium Term Notes programme (Sukuk Murabahah). Since MARC’s last rating action on KMCOB’s Sukuk Murabahah on April 9, 2013, the company has proposed to issue guaranteed serial bonds of up to RM320 million, to whic...

MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200.0 million Murabahah Medium Term Notes (MMTN) Programme at AAID with a stable outlook. ISPV, a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB), was set up solely to facilitate the issuance of the MMTNs to finance the purchase of completed telecommunication (telco) towers constructed by the latter. ISPV has RM15...

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 rating assigned on Tranche 1 ...

MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM61 million Istisna’ Serial Bonds with a stable outlook. The rating is underpinned by the irrevocable and unconditional obligation of the Sarawak State Government, via its State Financial Secretary Inc (SFS), to meet the repayment of the bonds under a redeemable pref...

MARC has affirmed its long term and short term conventional and Islamic debt ratings of AAA/AAAID and MARC-1/MARC-1ID respectively on Cagamas Berhad (Cagamas) with a stable outlook. A full list of these issuances is given at the end of this press announcement. The ratings reflect the institution’s continued sound asset quality, profitable operations, strong capitalisation, prudent management...

MARC has assigned preliminary ratings of AA-IS and AIS on special purpose company Alpha Circle Sdn Bhd’s (Alpha Circle) proposed RM540 million Senior Sukuk Musharakah (Senior Sukuk) and RM55 million Junior Sukuk Musharakah (Junior Sukuk) respectively under the Sukuk Musharakah programme. The ratings carry a stable outlook. The two-notch rating differential between the Senior Sukuk and the Ju...