MARC has affirmed its ratings on the following rated programmes with a stable outlook:RM100.0 million Sukuk Ijarah Commercial Papers (Sukuk ICP) and RM300.0 million Sukuk Ijarah Medium Term Notes (Sukuk IMTN) Programmes of TSH Sukuk Ijarah Sdn Bhd (TSH Ijarah) at MARC-1IS/AA-IS; andRM100.0 million Guaranteed Islamic Medium Term Notes (IMTN) Programme of TSH Sukuk Musyarakah Sdn Bhd (TSH Musyarakah...

MARC has affirmed its sukuk ratings of AA+IS  on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium  Term Notes (MTN) Programme of up to RM800 million. The rating outlook for both issues is stable.  The affirmed ratings incorporate Westports’ strategic location and strong operational track record...

MARC has affirmed its ratings of MARC-2ID/AID on Symphony House Berhad's (Symphony) RM100.0 million Islamic Commercial Papers/MediumTerm Notes (Islamic CP/MTN) Programme and revised the outlook to negative from stable. The rating action affects RM20 million of outstanding IMTNs.The outlook revision reflects the slower-than-expected pace of recovery in Symphony's operating performance and its finan...

MARC has affirmed its rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AA+ID with a stable outlook. The affirmed rating takes into account the recent improvement in KEV’s operating and financial performance, as well as the rating agency’s expectation of a very high probability of parental support from Te...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and the utility's Islamic debt ratings at AAAID for the following outstanding issues: i) RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility; and ii) RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook is stable. The affirmed ratings continue to incorporate support uplift for TNB's obligations, deriv...

MARC has affirmed its rating on Boustead Holdings Berhad’s (Boustead Holdings) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad and The Bank of Ea...

MARC has downgraded its rating on Scomi Group Berhad’s (Scomi or group) RM500 million Medium Term Notes (MTN) programme to A from A+ and concurrently placed the rating on MARCWatch Negative. The rating action affects RM200 million of outstanding MTNs.The downgrade follows the release of Scomi’s unaudited results for the financial year ended December 31, 2011 (FY2011). While Scomi had e...

MARC affirms its 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 satisfactory business risk profile owing to its strong market position as the sole natural gas distributor in Peninsul...

MARC has affirmed its AAAIS and AA+IS ratings on Tradewinds Plantation Capital Sdn Bhd’s (Tradewinds Capital) asset-backed RM180 million Class A and RM30  million  Class  B Sukuk  Ijarah (collectively the Sukuk) respectively, with a stable outlook. Wholly-owned by Tradewinds Plantation Berhad (Tradewinds), Tradewinds Capital is a special purpose vehicle established to act...

MARC has affirmed Sime Darby Berhad’s (Sime Darby) debt ratings as follows:RM4.5 billion Islamic Medium Term Note (IMTN) Programme (RM2.0 billion outstanding) and RM500 million Islamic Commercial Paper (ICP) Programme (RM500 million outstanding) with combined limit of RM4.5 billion at AAAID/ MARC-1ID andRM150 million Underwritten Murabahah Commercial Papers Facility at MARC-1ID.The outlook o...