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MARC Ratings has withdrawn its rating of AAAIS on MISC Berhad’s RM2.5 billion Islamic Medium-Term Notes (IMTN) programme. The withdrawal follows the expiry of the programme on September 27, 2022, as confirmed by the facility agent.Contacts:Siti Nursyahira, +603 2717 2956/ nursyahira@marc.com.myNeo Xue Wei, +603-2717 2937/ xuewei@marc.com.mySharidan Salleh, +603-2717 2954/ sharidan@marc.com.my&nb...
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MARC Ratings has withdrawn its ratings of MARC-1IS(cg) /AA-IS(cg) on Sunway Treasury Sukuk Sdn Bhd’s Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programme with a limit of RM2.0 billion. The withdrawal follows the expiry of the programme on June 6, 2022 as confirmed by the facility agent.The rating agency’s analytical coverage is now limited to Sunway Treasury Sukuk’s R...
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MARC Ratings has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the latter’s subordination to the senior sukuk. All ratings carry a stable outlook. The outstanding under the programmes stood at RM2.3 billion and R...
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MARC Ratings has affirmed its ratings on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes Programme (Sukuk Musharakah) at AA+IS and RM2.0 billion Perpetual Sukuk Programme (Perpetual Sukuk) at AA-IS. The ratings outlook is stable. UMW’s sizeable market share in the domestic automotive industry, strong revenue generation and healthy capital structure remain key rating dr...
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MARC Ratings has affirmed its AAAIS rating on MISC Berhad’s RM2.5 billion Islamic Medium-Term Notes (IMTN) programme with a stable outlook.The rating incorporates MISC’s position as a domestic leader and a key global player in the energy-related shipping business, its stable revenue generation from long-term liquefied natural gas (LNG), ethane and offshore contracts, and its low-to-moderate le...
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MARC Ratings has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme.The rating is driven by BDB’s improving business profile in construction and property development, its low-to-moderate leverage position, and adequate liquidity to meet short-term operational and financial commitments. The group’s status as a ...
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MARC Ratings has maintained its ratings on Alpha Circle Sdn Bhd’s outstanding RM80 million Senior Sukuk Musharakah and RM55 million Junior Sukuk Musharakah at BIS and CIS. The senior sukuk’s rating outlook has been maintained at negative.The rating actions reflect Alpha Circle’s weak financial position to be able to fully meet its remaining sukuk repayments and instead has relied on the indu...
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MARC Ratings has assigned a final rating of AA-IS to MMC Port Holdings Sdn Bhd's (MMC Port) RM1.0 billion Sukuk Murabahah Programme. The outlook on the rating 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 preliminary rating was based.For...
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MARC Ratings has lowered its ratings on Alpha Circle Sdn Bhd’s outstanding RM115 million Senior Sukuk Musharakah to BIS/negative from BBIS/negative and RM55 million Junior Sukuk Musharakah to CIS from BIS/negative. The downgrades reflect Alpha Circle’s weakened financial position to fully meet its upcoming senior sukuk payment of RM55 million on February 23, 2022. It has a balance o...
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MARC Ratings has assigned a preliminary rating of AA-IS to MMC Port Holdings Sdn Bhd’s (MMC Port) proposed RM1.0 billion Sukuk Murabahah Programme. The rating carries a stable outlook.The assigned rating is driven by MMC Port’s very strong competitive position among transhipment port operators regionally and among gateway port operators domestically, as well as its established track record in ...
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