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MARC Ratings has assigned final ratings of MARC-1IS / AA-IS to UEM Sunrise Berhad's Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined nominal value of RM4.0 billion. The outlook on the ratings is stable.The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in a...
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MARC Ratings has revised the ratings outlook to negative from stable on its A+IS and AIS ratings on Tropicana Corporation Berhad’s RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) and RM2.0 billion Perpetual Sukuk Programme (Perpetual Sukuk).The outlook revision highlights the rating agency’s increasing concern over the rise in group borrowing level which stood at RM4.5 billio...
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MARC has affirmed its AA+IS rating with a stable outlook on Sime Darby Property Berhad's (SD Property) Islamic Medium-Term Notes Programme of RM4.5 billion under the Shariah principle of Musharakah. SD Property's well-established position as a township developer and its strong sales track record in domestic property development remain key rating drivers. Its sizeable landbank of 15,199 acres ...
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MARC has affirmed its ratings on Berjaya Land Berhad’s (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The ratings of AAA(fg) and AAA(bg) carry a stable outlook. The affirmed ratings reflect the unconditional and irrevocable guarantees provide...
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MARC has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook has been revised to negative from stable. Fortune Premiere is a funding vehicle for parent IOI Properties Group Berhad which has extended an unconditional and irrevocable guarantee on the issuance. The revised outlook is premi...
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MARC has assigned long-term ratings of AAA, AA and A to Trusmadi Capital Sdn Bhd’s issue of RM235 million Class A, RM40 million Class B, and RM25 million Class C Medium-Term Notes (MTN). Concurrently, the rating agency has assigned a MARC-1 rating to Trusmadi Capital’s issue of up to RM300 million Commercial Papers (CP). The rated MTN and/or CP issuances are subject to a combined issuance limi...
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MARC has assigned a preliminary rating of A+IS with a stable outlook to YNH Property Berhad’s (YNH) proposed Islamic Medium-Term Notes Programme (Sukuk Wakalah) of up to RM700 million. Proceeds from the initial drawdown of about RM350 million will be utilised to repay a term loan of RM130 million and the balance to finance working capital. The preliminary rating is based on YNH’s lengthy ...
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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-September 2021.The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas, and its moderate leverage and liquidity positions. Moderating f...
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MARC has assigned preliminary ratings of MARC-1IS /AA-IS to UEM Sunrise Berhad’s proposed Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined nominal value of RM4.0 billion (ICP/IMTN-3). We have concurrently affirmed the existing ratings of MARC-1IS /AA-IS on its two ICP and IMTN programmes (ICP/IMTN-1 and ICP/IMTN-2) with a total combined nom...
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MARC has affirmed its MARC-1/AA- ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) Programmes, and MARC-1IS(cg)/AA-IS(cg) ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) Programmes. All ratings carry a stable outl...
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