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MARC has affirmed its long-term and short-term financial institution (FI) ratings of A+/ MARC-1 on Kenanga Investment Bank Berhad (Kenanga). The ratings outlook is stable.Kenanga’s strong competitive position in the domestic stockbroking industry and its sound capital position are key rating drivers. The ratings also consider its moderate profitability metrics and adequate funding profile. Moder...
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MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFH Malaysia) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 with a stable outlook. The FI ratings are based on the national rating scale.KFH Malaysia’s long-term FI rating is anchored on the rating of its parent Kuwait Finance House KSC (KFH) of AAA from MARC based on public information. KFH Malaysia’s rati...
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MARC has affirmed its financial institution (FI) rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook.CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support extended by the government through Bank Negara Malaysia (BNM), remains a key rating factor. BNM is CGC’s main shareholder with 78.7% in...
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MARC has assigned a preliminary rating of AA-IS to UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar 2) proposed Green SRI Sukuk of up to RM100.0 million. The rating outlook is stable. UiTM Solar 2 was set up to develop and operate a 25MW solar power plant in Pasir Gudang, Johor. Its parent, UiTM Energy & Facilities Sdn Bhd (UiTM Energy), operates a 50MW solar power plant in Gambang, Pahang th...
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MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme, concurrently removing the rating from MARCWatch Developing where it had been placed since January 24, 2020. The rating outlook is stable. The rating action is premised on MARC’s view that as long as the protracted negotiations between the government and the toll conce...
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MARC has affirmed its AA-IS rating on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. MMC’s significant competitive strengths in the engineering, ports and logistics segments that have translated to strong earnings generation remain key rating drivers. This is supported by steady earnings from its energy and utilities segment. These str...
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MARC has withdrawn its long-term and short-term counterparty credit ratings of AAA/MARC-1 on Credit Guarantee & Investment Facility. The ratings withdrawal is at the request of the entity. Contacts:Farhan Darham, +603-2717 2945/ farhan@marc.com.my;Mohd Izazee Ismail, +603-2717 2947/ izazee@marc.com.my....
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MARC has assigned a final rating of AA-IS to special-purpose vehicle SHC Capital Sdn Bhd’s (SHC Capital) proposed RM80.0 million issuance under its RM200.0 million Islamic Medium-Term Notes Programme (Sukuk Wakalah). The rating outlook is stable. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any ma...
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MARC has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook.CNSB provides network telecommunication (telco) services to Celcom Axiata Berhad (Celcom) group. In assessing CNSB, MARC’s approach is to consider the overall credit profile of Celcom, premised on strong financial and operational linkages of entities within the g...
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MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and AIS rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The ratings outlook is stable. The FI ratings reflect Bank Muamalat’s relatively modest size, strong capitalisation, moderate financial performance and weakening asset quality met...
This article has been viewed 861 times.