MARC has affirmed its rating of AAA on Inverfin Sdn Bhd’s outstanding RM160 million Tranche A notes under its RM200 million Medium-Term Notes (MTN) programme. The programme limit of the Tranche A notes has been streamlined to match the outstanding amount of RM160 million from RM185 million. Concurrently, the programme limit of the unrated Tranche B notes has been increased to RM40 million. The ...

MARC has affirmed its A+IS rating on toll concessionaire Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). Concurrently, the rating outlook has been revised to developing. SPRINT is the toll concessionaire of the 26.5-km interlinked SPRINT highways comprising Damansara Link, Kerinchi Link and Penchala Link in Kuala Lumpur. The deve...

MARC has affirmed its rating of AA-IS on Malaysia Marine and Heavy Engineering Holdings Berhad’s (MHB) RM1.0 billion Sukuk Murabahah Programme with a stable outlook.   The affirmed rating incorporates a one-notch rating uplift based on MHB’s status as a member of the Petroliam Nasional Berhad (PETRONAS) group of companies. PETRONAS&n...

MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme (sukuk). Concurrently, the rating outlook has been revised to stable from negative. PLUS is the toll concessionaire of five major highways in Malaysia, of which the 772-km North-South Expressway (NSE) is its key highway in terms of revenue generation. The outlook revisi...

MARC has affirmed its ratings on Alpha Circle Sdn Bhd’s RM540 million Senior Sukuk Musharakah and RM55 million Junior Sukuk Musharakah at AA-IS and AIS. The ratings outlook remains negative. The affirmed ratings primarily consider the improvement in the volume of work permits issued for foreign workers with the uptrend reflecting moderate success of the government programme to rehire/legal...

MARC has assigned a foreign currency sovereign rating of AAA to the People’s Republic of China (China) with a stable outlook based on its national rating scale. The AAA rating reflects the strength of China’s large resilient economy, robust external position and its reform agenda. Its rating strengths are, however, tempered by its highly leveraged non-financial corporate sector and the US-Chi...

MARC has withdrawn its AAA(fg) rating on TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme at the request of the issuer. The rating carried a stable outlook. Contacts: Ati Affira Kholid, +603-2717 2941/ affira@marc.com.my; David Lee, +603-2717 2955/ david@marc.com.my. ...

MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. JEP was established to develop, design, construct and operate a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The affirmed ra...

MARC has issued this update on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) as part of its ongoing monitoring process on the RM1.0 billion Green SRI Sukuk that was issued to finance solar power plant projects in Gurun, Merchang and Jasin. While the Gurun plant has achieved commercial operation date (COD) i...

MARC has assigned ratings of MARC-1IS(cg)/AA-IS(cg) to Sunway Treasury Sukuk Sdn Bhd’s (STSSB) RM10.0 billion Sukuk Programme with a stable outlook. STSSB’s Sukuk Programme will carry an Al-Khafalah guarantee from Sunway Berhad (Sunway). The new Sukuk Programme is expected to replace STSSB’s existing RM2.0 billion Sukuk Programme which MARC had affirmed at MARC-1IS(cg)/AA-IS(cg) on Nov...