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MARC assigns a rating of AA-IS to Cerah Sama Sdn Bhd’s (Cerah Sama) proposed first issuance of RM420.0 million sukuk under its RM750.0 million Sukuk Musharakah Programme with a stable outlook. The rating on the sukuk derives from MARC’s assessment of the underlying economic strength of the Cheras-Kajang Expressway operated by Cerah Sama’s key and only material operating subsidiar...
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MARC has downgraded its insurer financial strength (IFS) rating on BEST RE Family (L) Limited (BEST RE Family) to A+ from AA with a stable outlook, to reflect the rating agency's revised approach of notching up the family takaful operator's standalone credit assessment on account of parental support uplift from its ultimate holding company, Islamic Arab Insurance Co (IAIC or SALAMA). MARC's previo...
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MARC has assigned long-term and short-term counterparty credit ratings of AAA/MARC-1 to Credit Guarantee and Investment Facility (CGIF) with a stable outlook.CGIF was established as a trust fund of the Asian Development Bank in November 2010 by the ten member countries of the Association of Southeast Asian Nations (ASEAN) and Japan, the People’s Republic of China (PRC) and Korea (ASEAN+3) an...
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MARC has affirmed the rating on Gas Malaysia Berhad’s (Gas Malaysia) RM500 million Al-Murabahah Medium Term Notes (MTN) Programme at AAAID with a stable outlook. Currently, there are no outstanding notes issued under the programme. The affirmed rating reflects Gas Malaysia’s strong credit profile underpinned by its strong market position as the sole natural gas distributor in Peninsula...
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MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme. The rating outlook is stable. PLUS Berhad holds a portfolio of tolled expressways, of which the North-South Expressway (NSE) is its largest revenue source. The affirmed rating continues to incorporate a two-notch rating uplift from PLUS Berhad’s standalone ratin...
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MARC has affirmed its ratings of A+, A and BBB+ on the outstanding Class A, B and C notes issued by RCE Advance Sdn Bhd (RCEA) under its RM420 million Fixed Rate Medium Term Notes (MTN) Programme. The ratings affect RM75 million of outstanding notes under Class A, RM80 million under Class B and RM60 million under Class C. The outlook on the ratings is stable. RCEA is a special purpose financing ve...
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MARC has affirmed its AAA rating on Woori Bank’s RM1.0 billion Medium Term Notes (MTN) Programme with a stable outlook. The affirmed rating reflects the strength and resilience of the bank’s strong banking franchise in the Republic of Korea (Korea), good earnings generation capacity, sound funding profile and capitalisation, as well as ongoing upgrading of its risk management systems a...
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MARC has placed its A+IS(cg) issue rating on KMCOB Capital Bhd's (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme on MARCWatch Negative. The rating actions affect RM302.55 million of outstanding notes issued by KMCOB. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), which in turn is a wholly-owned subsidiary of Scomi Group Bhd (Scomi). MARC rates the notes bas...
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MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on The Bank of East Asia, Limited (BEA), Hong Kong. The ratings are based on MARC's assessment of the bank's capacity to meet its financial obligations on the Malaysian national rating scale. The outlook on the ratings is stable. BEA’s current ratings reflect its long-established banking franchise in H...
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MARC has assigned long-term and short-term programme ratings of AA-IS and MARC-1IS respectively to Malakoff Power Bhd’s (MPower) RM5.6 billion Murabahah Securities Facility and RM300.0 million Islamic Commercial Paper (ICP) Programme (collectively referred as Sukuk Murabahah Facility). The outlook on the ratings is stable.MPower is a wholly-owned subsidiary of Malakoff Corporation Berhad (Ma...
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