MARC Ratings has assigned preliminary ratings of MARC-1IS /AIS to Gabungan AQRS Berhad’s (GBG) proposed RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. The ratings reflect GBG’s moderate construction order book, its low counterparty risk from the largely government-related construction contracts, and its earnings vis...

MARC Ratings has withdrawn its rating of CIS on Talam Transform Berhad’s (Talam) RM134.2 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS).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....

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...

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...

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...

MARC has affirmed its ratings on WCT Holdings Berhad’s RM1.0 billion Medium Term Notes (MTN) Programme at AA- and its RM1.5 billion Sukuk Murabahah (Sukuk) Programme at AA-IS. The rating agency has also affirmed its rating on the RM1.0 billion Perpetual Sukuk Musharakah Programme at AIS. The outlook for all ratings is stable.The affirmed MTN and Sukuk programme ratings consider WCT’s strong an...

MARC has assigned a final rating of A with a stable outlook to WCT Holdings Berhad’s proposed Perpetual Sukuk Musharakah Programme (perpetual sukuk) of up to RM1.0 billion. Upon review of the final documentation for the programme, MARC is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the earlier preliminary rating of A wa...

MARC has affirmed the ratings of WCT Holdings Berhad’s RM1.0 billion Medium-Term Notes (MTN) Programme and RM1.5 billion Sukuk Murabahah Programme (sukuk) at AA- and AA-IS. Concurrently, MARC has assigned a preliminary rating of A with a stable outlook to WCT Holdings’ proposed Perpetual Sukuk Musharakah Programme (perpetual sukuk) of up to RM1.0 billion. The rating outlook on the perpetual s...

MARC has maintained its CIS rating on Talam Transform Berhad’s (Talam) outstanding RM45.6 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDs) as at June 27, 2019. The rating action considered the extension of the maturity date of the Settlement BaIDs by 18 months to December 28, 2020 from June 28, 2019. The distressed restructuring exercise was undertaken as Talam w...

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. ...