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MARC Ratings has assigned a final rating of AIS to Tropicana Corporation Berhad’s RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) Programme. The rating outlook is stable. 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 prelimin...
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MARC Ratings has assigned a final rating of AA-IS to special purpose vehicle WM Senibong Capital Berhad’s (WMSC) Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM1.0 billion. The rating outlook is stable. WMSC is wholly owned by WM Senibong Sdn Bhd.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not change...
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MARC Ratings has affirmed its ratings of AIS(cg)/MARC-1IS(cg) on special purpose funding vehicle SkyWorld Capital Berhad’s RM300.0 million Islamic Medium-Term Notes/Islamic Commercial Papers (IMTN/ICP) Programmes. The rating outlook is stable. The ratings reflect the credit profile of parent SkyWorld Development Berhad (SkyWorld) which has extended an irrevocable and unconditional guarantee on t...
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MARC Ratings has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) sukuk programmes with a stable outlook. The list of sukuk programmes is appended at the end of this press announcement. The credit strength of the Malaysian government as the principal lessee of government buildings in Putrajaya under individual long-term lease-and-sublease agreements with PJH remains the key driver...
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MARC Ratings has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. The rating affirmation is mainly premised on the sufficiency of the periodic payment streams from the Malaysian government in the form of availability charges (AC) to meet the financial obliga...
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MARC Ratings has assigned a preliminary short-term rating of MARC-1IS to Titijaya Land Berhad’s (Titijaya) proposed RM300 million Islamic Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed its existing MARC-1IS rating on the group’s RM150 million ICP programme which will expire on November 8, 2024. The new programme will replace the existing programme on expiry.Tit...
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MARC Ratings has assigned a preliminary rating of AIS to Tropicana Corporation Berhad’s proposed RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah) and concurrently affirmed its ratings of AIS on the RM1.5 billion IMTN (Sukuk Wakalah) and A-IS on the RM2.0 billion Perpetual Sukuk. The outlook on all ratings is stable. Proceeds from the initial drawdown of RM350 million under the...
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MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable.The rating affirmation incorporates Sunsuria’s conservative property development approach, healthy overall take-up rates and low inventory level. The rating also factors in the group’s low-to-moderate leverage position and healthy liquidity position. Moderat...
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MARC Ratings has assigned a preliminary rating of AA-IS to special purpose vehicle WM Senibong Capital Berhad’s (WMSC) proposed Islamic Medium-Term Notes (Sukuk Wakalah) Programme of up to RM1.0 billion. The rating outlook is stable. WMSC is wholly owned by WM Senibong Sdn Bhd.The rating reflects the credit strength of property developer WM Senibong as the obligor of the proposed Sukuk Wakalah P...
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MARC Ratings has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) outstanding RM30.0 million Fixed Rate Serial Bonds. The rating outlook is stable. The rating reflects the credit strength of AEON Co (M) Berhad (AEON), which, as the principal lessee of CISB-owned AEON Mall Ipoh Klebang, makes periodic fixed lease payments under a lease agreement. The payments are deemed suffici...
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