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MARC has affirmed its AAA financial institution (FI) rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook.
The rating reflects CGC’s public policy role as a development financial institution (DFI) for which the government through Bank Negara Malaysia (BNM) has continued to provide support. In its role, CGC provides credit guarantees on loans and financing exte...
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MARC has affirmed its A+IS(s) rating on single-purpose company Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd’s (PLSUKE) Sukuk Wakalah Programme (Sukuk Wakalah) of up to RM2.0 billion with a negative outlook. Concurrently, the rating agency has affirmed its AAAIS(fg) rating on PLSUKE’s Danajamin-Guaranteed Facilities (Danajamin-Guaranteed Sukuk) of up to RM500.0 million with a stable outlook. ...
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MARC has withdrawn its financial institution ratings of AAA/MARC-1 on The Bank of East Asia, Limited. The ratings carried a stable outlook.
The ratings withdrawal is at the request of the bank. Upon the withdrawal, MARC will no longer provide analytical coverage on the bank.
Contacts:
Lee Kar Xuan, +603-2717 2964/ karxuan@marc.com.my;
Sharidan Salleh, +603-2717 2954/ sharidan@marc...
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MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s RM470.0 million Islamic Securities (Sukuk Wakalah) with a stable outlook.
Tanjung Bin O&M, a wholly-owned subsidiary of Malakoff Power Berhad (MPower), provides operations and maintenance (O&M) services to a 2,100-MW coal-fired power plant under an O&M agreement (OMA) with sister company Tanjung Bin Power Sdn Bhd (TBP). The pow...
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MARC has affirmed its AAA financial institution (FI) rating on Bank Pembangunan Malaysia Berhad (Bank Pembangunan). The rating carries a stable outlook.
The FI rating is solely premised on Bank Pembangunan’s status as a wholly government-owned development financial institution (DFI) which was incorporated to extend loans and financial support to specific industries promoted by the governme...
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MARC has affirmed its rating of AA-IS on TSH Sukuk Ijarah Sdn Bhd’s (TSH Ijarah) RM300.0 million Sukuk Ijarah Medium-Term Notes (Sukuk IMTN) programme.
TSH Ijarah is one of two special purpose funding vehicles set up by its parent, TSH Resources Berhad (TSH), a predominantly upstream crude palm oil (CPO) producer with majority of its oil palm plantations located in Kalimantan, Indonesia.
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MARC has affirmed its ratings of MARC-1IS/AA-IS on TSH Sukuk Murabahah Sdn Bhd’s (TSH Murabahah) RM50.0 million Sukuk Murabahah Commercial Papers (ICP) and RM150.0 million Sukuk Murabahah Medium-Term Notes (IMTN) programme with a stable outlook. TSH Murabahah is one of two special purpose funding vehicles set up by its parent, TSH Resources Berhad (TSH), to fund TSH’s crude palm oil (CPO) ope...
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MARC has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s Green SRI Sukuk Wakalah of up to RM245.0 million. The outlook on the rating is stable.
Sinar Kamiri is undertaking the development of a greenfield solar power generation facility with a capacity of 49.0MWac in Sungai Siput, Perak. The rating primarily reflects Sinar Kamiri’s healthy project fundamentals that are underpinned by ...
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MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. The two-notch rating differential between the Perpetual Sukuk and the IMTN is in line with MARC’s not...
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MARC has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme at AA- and AA-IS. The ratings outlook has been revised to negative from stable. The outlook revision considered the slower-than-expected progress to reduce WCT Holdings’ elevated...
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