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MARC Ratings has affirmed its ratings of MARC-1IS /AIS on Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The long-term rating outlook is stable. As of end-September 2024, GBG had an outstanding RM53.0 million IMTN and RM74.0 million ICP under the rated programme.The long-term rating mainly incorporates GBG’s moderate-sized...
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MARC Ratings has downgraded its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme to A+ from AA-, and RM1.5 billion Sukuk Murabahah Programme to A+IS from AA-IS. Concurrently, the rating on WCT Holdings' RM1.0 billion Perpetual Sukuk Musharakah Programme has been lowered to A-IS from AIS. The ratings outlook has been revised to stable from negative.The downwar...
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MARC Ratings has affirmed its ratings of MARC-1IS /AIS on Gabungan AQRS Berhad’s (GBG) RM200.0 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. The total outstanding balance under the programme stood at RM35.0 million ICP as at end-April 2023.The long-term rating mainly reflects GBG’s moderate construction order book and low cou...
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MARC Ratings has affirmed its AA-, AA-IS and AIS ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme, RM1.5 billion Sukuk Murabahah Programme and RM1.0 billion Perpetual Sukuk Musharakah Programme. Concurrently, the rating agency has revised the outlook on all the ratings to negative from stable.The outlook revision is premised on the persistently high leverage posit...
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MARC Ratings has assigned a "Gold" Impact Assessment to Solarvest Holdings Berhad’s (Solarvest) Sustainability Sukuk Framework (the Framework). The Framework has been established to set the guiding principles for Solarvest’s issuances of Islamic financing instruments for specific eligible projects.MARC Ratings has assessed the Framework and is satisfied that it is aligned with the core compone...
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MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes Programme and RM1.5 billion Sukuk Murabahah (Sukuk) Programme at AA- and AA-IS. Concurrently, the rating agency has also affirmed WCT Holdings’ RM1.0 billion Perpetual Sukuk Musharakah Programme rating at AIS. All ratings carry a stable outlook.The affirmed ratings mainly reflect WCT Holdings’ leng...
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MARC Ratings has withdrawn its rating of CIS on Talam Transform Berhad’s (Talam) RM134.2 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS). The rating withdrawal follows the full redemption of the outstanding RM18 million under the Settlement BaIDS as announced on the BNM FAST website.Upon the redemption, MARC Ratings will no longer provide analytical coverage on Talam....
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MARC has affirmed its AA- and AA-IS ratings on WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme. Concurrently, the rating agency also affirmed its AIS rating on WCT Holdings’ RM1.0 billion Perpetual Sukuk Musharakah Programme. All ratings carry a stable outlook. The ratings affirmation considers WCT Holdings’ established t...
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MARC has maintained its CIS ratings on property developer Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS) as of June 9, 2021. The rating continues to reflect the substantial risk of default on the Settlement BaIDS, notwithstanding the extension of the maturity date of Talam’s Settlement BaIDS by 18 months to June 2...
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MARC has maintained its rating of CIS on Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 5, 2020. Under the restructuring exercise undertaken by Talam in March 2019, the maturity date of the Settlement BaIDs was extended by 18 months to December 28, 2020 from June 28, 2019.The rating considers Talam's weak...
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