Displaying 121-130 of 858 results.
MARC Ratings has affirmed its AA-IS rating on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) RM1.0 billion Green Sustainable and Responsible Investment (SRI) Sukuk. The rating outlook is stable. QSP Semenanjung has a 100%-ownership in three project companies — QSP (Kedah) Sdn Bhd, QSP (Melaka) Sdn Bhd and QSP (Terengganu) Sdn Bhd — with each owning a fully operational 50MW sola...
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MARC Ratings has affirmed its AA-IS rating on Konsortium KAJV Sdn Bhd’s (KAJV) RM1.0 billion Sukuk Wakalah Programme with a stable outlook. The rating reflects the credit strength of the Terengganu state government to meet its payment obligations due on the Facility Payment Certificates (FPC) it issued for work completed by KAJV for the Kuala Terengganu Utara (KTU) water supply project. The...
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MARC Ratings has affirmed its rating on Projek Lintasan Sungai Besi – Ulu Klang Sdn Bhd's (PLSUKE) Sukuk Wakalah Programme of up to RM2.0 billion, with a stable outlook. The rating on PLSUKE’s Danajamin-guaranteed Facilities of up to RM500.0 million has been affirmed at AAAIS(fg)/Stable based on the long-term counterparty credit rating of AAA/stable on Danajamin Nasional Berhad. PLSUKE is...
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MARC Ratings has assigned a preliminary rating of AAAIS to TNB Power Generation Sdn Bhd’s (TPGSB) proposed sukuk programme of up to RM10.0 billion. The rating carries a stable outlook. Commencing operations on October 1, 2020, TPGSB was incorporated to assume the generation assets and liabilities of its parent Tenaga Nasional Berhad (TNB) under a group-wide transformation plan. In arriving ...
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MARC has assigned a “Gold” Sustainability Sukuk Assessment to TNB Power Generation Sdn Bhd’s (TPGSB or the Issuer) Sustainability Sukuk Framework. TPGSB, a wholly-owned subsidiary of Malaysia’s largest electricity utility Tenaga Nasional Berhad (TNB), is proposing to issue a Sustainability Sukuk to exclusively finance and/or refinance loans obtained to finance the development costs of...
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MARC Ratings has affirmed BEWG (M) Sdn Bhd’s (BEWG) RM400 million Sukuk Wakalah rating of AAIS with a stable outlook.BEWG is a 100%-subsidiary of Hong Kong–based Beijing Enterprises Water Group Limited (BEWGL), principally involved in the water treatment and distribution facilities project in Kemaman for the Terengganu state government.The rating incorporates the credit strength of the T...
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MARC Ratings has placed its rating of AA-IS on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM202.3 million Green SRI Sukuk on MARCWatch Negative. UiTM Solar owns and operates a 50MW solar plant in Gambang, Pahang. The rating agency had on November 26, 2021, highlighted that the plant became non-operational due to unexpected damage of its gas-insulated switchgear and power transformer.The...
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MARC Ratings has downgraded its ratings on MEX II Sdn Bhd’s RM1.3 billion Sukuk Murabahah Programme and RM150 million Junior Bonds to defaulted rating of D from CIS/C. The rating action follows a non-payment on the principal and profit totalling RM107.8 million on the outstanding sukuk of RM1.3 billion on due date. The non-payment is after two previous extensions granted by sukukholders in the p...
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MARC has affirmed its AA+IS rating on Celcom Networks Sdn Bhd's (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. The outstanding currently stands at RM1.75 billion.CNSB provides network telecommunications services to its parent Celcom Axiata Berhad (Celcom) and fellow subsidiary Celcom Mobile Sdn Bhd. In assessing CNSB, MARC has considered the overall credit profile of the Cel...
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MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme with a stable outlook. The outstanding currently stands at RM17.9 billion.The rating benefits from a two-notch uplift to PLUS’ standalone rating to reflect our view of strong government linkages exhibited in the interdependence between default events for the rated sukuk and...
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