MARC has withdrawn its MARC-1IS/AAAIS ratings on Sime Darby Berhad’s (Sime Darby) Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) Programme with a combined limit of RM4.5 billion. The ratings carried a negative outlook. There were no outstanding issuances under the programme. The ratings withdrawal follows confirmation from the facility arranger, Maybank Investment Bank Berh...

MARC has affirmed its ratings of MARC-1IS/AAAIS and AAIS on Sime Darby Berhad’s (Sime Darby) Islamic Commercial Paper/Islamic Medium-Term Note (ICP/IMTN) Programme with a combined limit of RM4.5 billion and Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion respectively. The two-notch rating differential between the Perpetual Sukuk and IMTN is in line with MARC’s ...

MARC is issuing this update on Sime Darby Berhad (Sime Darby) following the group’s recent asset disposals and share placement exercise, in line with its announced deleveraging exercise. The group has made steady progress in utilising the proceeds from the exercise to pare down its borrowings which rose sharply following the acquisition of New Britain Palm Oil Limited for RM6.0 billion in March...

MARC has assigned a final rating of AAIS to Sime Darby Berhad’s (Sime Darby) RM3.0 billion Perpetual Subordinated Sukuk Programme (Perpetual Sukuk). The rating outlook is negative. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Perpetual Sukuk have not changed in any material way from the draft documentation on which the earli...

MARC has assigned a preliminary rating of AAIS to Sime Darby Berhad’s (Sime Darby) Perpetual Subordinated Sukuk Programme (Perpetual Sukuk) of up to RM3.0 billion, and has affirmed the ratings of MARC-1ID/AAAID on the existing RM4.5 billion Islamic Medium Term Note (IMTN) Programme and RM500.0 million Islamic Commercial Paper/Islamic Medium Term Note (ICP/IMTN) Programme with...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium-Term Notes Programme (IMTN Programme) and RM500.0 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook on the ratings is stable. MARC’s rating affirmation takes into consideration the challenging operating environment ...

MARC will assess the credit implications of Sime Darby Berhad’s (Sime Darby) proposed acquisition of a 48.97% stake in New Britain Palm Oil Limited (NBPOL) on the plantation group’s financial metrics pending full information on the acquisition deal. The impact of the acquisition on Sime Darby’s current ratings will be factored in the forthcoming annual rating review. In the meant...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The rating of MARC-1ID on the RM150 million Underwritten Murabahah Commercial Papers Facility has...

MARC has affirmed Sime Darby Berhad’s (Sime Darby) debt ratings as follows:RM4.5 billion Islamic Medium Term Note (IMTN) Programme (RM2.0 billion outstanding) and RM500 million Islamic Commercial Paper (ICP) Programme (RM500 million outstanding) with combined limit of RM4.5 billion at AAAID/ MARC-1ID andRM150 million Underwritten Murabahah Commercial Papers Facility at MARC-1ID.The outlook o...

MARC has revised its outlook on Sime Darby Berhad's (Sime) MARC-1ID /AAAID debt ratings to stable from negative. The outlook revision affects the following facilities of Sime:1) RM4.5 billion Islamic Medium Term Note (IMTN) Programme (RM2.0 billion outstanding) and RM500 million Islamic Commercial Paper (ICP) Programme (RM500 million outstanding) with combined limit of RM4.5 billion; and2) RM150 m...