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MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM30.0 million Fixed Rate Serial Bonds. The rating outlook is stable. The rating reflects the credit strength of AEON Co (M) Berhad (AEON), which, as the principal lessee of CISB-owned AEON Mall Ipoh Klebang, makes periodic fixed lease payments under a lease agreement. The payments are deemed suffici...
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MARC Ratings has affirmed its ratings of MARC-1IS and A+IS on George Kent (Malaysia) Berhad’s RM100.0 million Islamic Commercial Papers Programme and RM500.0 million Islamic Medium-Term Notes Programme, subject to a combined limit of RM500.0 million. The rating outlook is stable. The affirmed ratings continue to reflect George Kent’s strong liquidity position and healt...
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MARC Ratings has affirmed its AA+IS rating on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes Programme (Sukuk Musharakah) and its AA-IS rating on the RM2.0 billion Perpetual Sukuk Programme. The outlook for all ratings is stable. UMW’s longstanding leading position in the domestic automotive market, significant automotive sales in recent years that have ...
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MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.15 billion sukuk with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, which operates a combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an installed capacity of 535.715MW each) in Seberang Perai Te...
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MARC Ratings has assigned a "Gold" Impact Assessment to Bank Kerjasama Rakyat Malaysia Berhad’s (Bank Rakyat) Sustainability Sukuk Framework. The framework has been established to set the guiding principles for Bank Rakyat’s issuance of Sustainability Sukuk for eligible projects that contribute towards environmental and social benefits.Bank Rakyat is the largest Islamic cooperative bank in Mal...
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MARC Ratings has affirmed its A+IS rating on Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes Programme (Senior Sukuk). Concurrently, the rating agency has also affirmed its A-IS rating on the group’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential between the instruments reflects the subordinated structure of th...
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MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to Malakoff Power Berhad’s RM1.2 billion Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes. The rating outlook is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documentatio...
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MARC Ratings has affirmed its AAIS rating on S P Setia Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating reflects S P Setia’s established domestic market position in township development, its proven sales track record, and considerable landbank in strategic locations that would continue to provide strong developmental opportunities. Its ea...
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MARC Ratings has affirmed its ratings on Sunway Group’s issuances with a stable outlook. The list of issuances is appended at the end of this press release. Sunway Group’s long operating track record and strong market position in key sectors of the economy remain key drivers of the ratings affirmation. This is moderated by increasing borrowings, moderate cash flow metrics and execution ri...
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MARC Ratings has affirmed Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) rating at A+ and revised the rating outlook to positive from stable. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. The gateway@klia2 complex comprises a landside mall, a multi-sto...
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