MARC has assigned a final rating of AA+IS with a stable outlook to Sime Darby Property Berhad’s (SD Property) RM4.5 billion Sukuk Musharakah 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 preliminary rating was based.For full deta...

MARC has affirmed its ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) programmes at MARC-1/AA-. Concurrently, the rating agency also affirmed its ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Paper/Islamic Medium-Term Notes (ICP/IMTN) programmes at MARC...

MARC has assigned a final rating of A+IS with a stable outlook to Sunsuria Berhad’s RM500.0 million Sukuk Wakalah 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 preliminary rating was based.For full details of the assigned rating,...

MARC has affirmed its AAA and MARC-1 ratings on Kinabalu Capital Sdn Bhd’s RM20 million Class A Medium-Term-Notes (MTN) and RM200 million Commercial Papers (CP) under Issue 1. The aggregate outstanding nominal value of MTN and CP programmes under Issue 1 is capped at RM220 million. The ratings outlook is stable. The MTN and CP are secured by a third-party first legal charge on the collatera...

MARC has affirmed its AA- rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes facility (MTN facility). The rating outlook, however, has been revised to negative from stable. The current outstanding under the rated facility is RM365 million.The outlook revision reflects MARC’s concern that the sharp decline in passenger traffic volume at Kuala Lumpur International Airp...

MARC has assigned a preliminary rating of AA+IS with a stable outlook to Sime Darby Property Berhad’s (SD Property) Islamic Medium-Term Notes programme of up to RM4.5 billion under the Shariah principle of Musharakah (Sukuk Musharakah). The 30-year Sukuk Musharakah programme expiring in 2039 had been novated to SD Property from Sime Darby Berhad as part of the restructuring exercise undertaken i...

MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad's (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-July 2020.The rating incorporates Titijaya's track record in developing projects in and around mature housing areas to mitigate demand risk, and its moderate leverage and liquidity position...

MARC is issuing this update on the potential rating impact on UEM Sunrise Berhad in light of the proposed merger with Eco World Development Group Berhad (Eco World). UEM Sunrise currently carries MARC-1IS / AA-IS ratings with a stable outlook from MARC for the property developer’s two Islamic Commercial Papers / Islamic Medium-Term Notes Programmes of RM2.0 billion each.Under the proposed merger...

Posted Date:MARC has assigned a preliminary rating of A+IS to Sunsuria Berhad’s proposed RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable.  Sunsuria is a mid-size property developer whose main development is the 375-acre Sunsuria City township in Salak Tinggi, Selangor. Sunsuria remains focused on property development projects within the Klang Valley over the near...

MARC has affirmed its AA- rating on Central Impression Sdn Bhd’s (CISB) RM120.0 million Fixed Rate Serial Bonds. The rating outlook remains negative. The rating outlook was revised to negative last year over its reduced cash buffer due to a higher tax liability arising from underpayments in prior years totalling RM3.2 million. CISB is required to settle the tax arrears in four annual instal...