Displaying 21-30 of 858 results.
MARC Ratings has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) issuance of RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) with a stable outlook.ACSB is a funding vehicle for Ahmad Zaki Resources Berhad (AZRB) to facilitate the subscription of Redeemable Convertible Preference Shares (RCPS-i) of related company Peninsular Medical Sdn Bhd (PMSB). In return, PMSB has assig...
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MARC Ratings has affirmed its AA-IS rating on MMC Port Holdings Sdn Bhd’s RM1.0 billion Sukuk Murabahah Programme with a stable outlook.The rating affirmation is driven by the group’s strong competitive position and well-established operational track record of its port operators in providing transshipment and gateway services. The port operators’ healthy cash flow generation, which stems fro...
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MARC Ratings has extended its MARCWatch Negative on ANIH Berhad’s outstanding Senior Sukuk Musharakah programme of RM1.48 billion, where it has been placed since May 25, 2023. The rating agency notes that the change in ANIH’s shareholding structure is still pending the government’s approval, which the company expects to receive by end-2023. We understand that only upon obtaining the app...
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MARC Ratings has affirmed its AAAIS(s) rating on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM25.2 billion Islamic Medium-Term Notes Programme (sukuk programme) with a stable outlook. The rating incorporates a two-notch rating uplift from PLUS' standalone rating of AA. The uplift is supported by the irrevocable and unconditional Letter of Undertaking (LoU) provided by the government through...
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MARC Ratings has assigned a final rating of AA-IS/Stable to OCK Group Berhad’s (OCK) proposed RM400 million Tranche 1 to be issued under a proposed RM700 million Sukuk Murabahah Programme. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preli...
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MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.50 billion Sukuk Murabahah with a stable outlook. The rating affirmation reflects JEP’s predictable cash flows from its 2x1,000-MW ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The rating also reflects its operational and financi...
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MARC Ratings has affirmed its AA+IS rating on EDOTCO Malaysia Sdn Bhd’s RM3.0 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah Programme) with a stable outlook. The rating reflects EDOTCO Malaysia and its subsidiaries’ (EDOTCO Malaysia group) solid market position in the growing domestic telecommunication (telco) tower industry, the underlying stability of its business model tha...
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MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM470.0 million Sukuk Ijarah with a stable outlook. The rating benefits from a two-notch uplift from the company’s standalone rating of AA- due to potential support from Tenaga Nasional Berhad (TNB) (AAA/Stable). TNB indirectly owns 60.0% of equity interest in KEV.KEV owns and operates the Kapar Pow...
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MARC Ratings has affirmed its AAIS rating on Northport (Malaysia) Bhd’s RM1.5 billion Sukuk Musharakah Programme with a stable outlook. Northport’s well-established operational track record as a key port operator in Port Klang, healthy cash flow generation and strong balance sheet profile remain key rating drivers. The rating is mainly moderated by the susceptibility of its handling volum...
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MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar Dua) outstanding RM92.0 million Green Sustainable and Responsible Investment (SRI) sukuk with a stable outlook. UiTM Solar Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor.The affirmed rating reflects the strength of the 21-year power purchase agreement (PPA) between UiTM Solar Dua and...
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