MARC has withdrawn its AA-ID rating on Sunrise Berhad’s RM400 million Islamic Medium-Term Notes (IMTN) Programme. The rating withdrawal follows the final redemption of the outstanding RM100 million notes at the expiration of the IMTN Programme on July 25, 2016, as confirmed by the facility agent. Upon the withdrawal of the rating, MARC will no longer be providing analytical coverage on the ...

MARC has affirmed its rating of AA-ID on Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating affects the outstanding RM100.0 million IMTNs issued under the programme. The rating reflects the equalisation of Sunrise’s rating to its parent UEM Sunrise Berhad’s (UEM Sunrise) rating of AA-/Stable. MARC’s approach takes int...

MARC has affirmed its rating of AA-ID on Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. Sunrise’s rating is equalised to that of its parent, UEM Sunrise Berhad (UEM Sunrise), premised on MARC’s assessment of Sunrise’s position as a core subsidiary of UEM Sunrise. This is evidenced by the high degree of operational...

MARC has affirmed its rating of AA-ID on Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) Programme with a stable outlook. Sunrise’s rating is equalised to that of its parent, UEM Sunrise Berhad (UEM Sunrise), as MARC views Sunrise as a core subsidiary of UEM Sunrise on the basis of the high degree of operational integration between them, the strong strategic f...

MARC has upgraded the rating on property developer Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) Programme to AA-ID from A+ID. The rating outlook is stable. The rating action affects the outstanding RM200 million IMTNs under the rated programme. The rating upgrade equalises Sunrise’s rating to that of its parent UEM Land Holdings Berhad (ULHB), premised on M...

MARC has affirmed its rating on property developer Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID and maintained the issue’s stable rating outlook. Sunrise continues to exist as a separate corporate entity after its acquisition by UEM Land Holdings Berhad (UEM Land) without major changes to its business strategy. The rating action reflects MA...

MARC is placing the following ratings on Sunrise Berhad (Sunrise) and Horizon Hills Development Sdn Bhd (Horizon Hills) on MARCWatch Developing following a conditional takeover bid for Sunrise by UEM Land Holdings Berhad (UEM Land):Sunrise's A+ID rating on its RM400 million Islamic Medium Term Notes (IMTN) Programme; andHorizon Hills' MARC-1ID(s) rating on its RM70 million Islamic Commercial Paper...

MARC has affirmed its rating on Sunrise Berhad’s RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins, large future expected billings from contracted sales (unbilled sales), fairly sizeable land bank to sustain developments...

MARC has affirmed its rating on Sunrise Berhad’s RM400.0 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins and huge unbilled sales, its fairly sizeable land bank to sustain developments in the medium term and its low leverage ...

MARC has withdrawn the MARC-1ID / A+ID ratings assigned to Sunrise Berhad’s (Sunrise) RM70 million Murabahah Notes Issuance Facility / Islamic Medium-Term Notes (MUNIF/IMTN) with immediate effect following the full redemption and cancellation of the MUNIF/IMTN.With the redemption of the MUNIF/IMTN, MARC’s rating obligation is now limited to Sunrise’s existing RM400 million IMTN, ...