Rating Announcements

MARC Ratings has upgraded its ratings on Sunway Group’s issuances as follows: Sunway Treasury Sukuk Sdn Bhd’s RM 3.0 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programme to MARC-1IS(cg)/AAIS(cg) from MARC-1IS(cg)/AA-IS(cg) Sunway Berhad’s RM 2.0 billion Commercial Papers/ Medium-Term Notes (CP/MTN) Programme to MARC-1/AA from MARC-1/AA- Sunway Berhad’s RM5.0 billion Perpetual Sukuk Programme to […]

MARC Ratings has affirmed the ratings of Tropicana Corporation Berhad’s (Tropicana) RM1.5 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah-2020), RM1.5 billion IMTN (Sukuk Wakalah-2024), and RM2.0 billion Perpetual Sukuk Programmes at AIS, AIS and A-IS, respectively. The ratings outlook on all three programmes has been maintained at positive. The positive outlook reflects the group’s continued

MARC Ratings has revised the outlook on the long-term AIS rating of Gabungan AQRS Berhad’s (GBG) RM200 million Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes to negative from stable. The short-term rating remains unchanged at MARC-1IS. The outlook revision reflects growing concerns over GBG’s shrinking construction order book and slower-than-expected sales at The Peak

MARC Ratings has affirmed its MARC-1IS/AAIS ratings on Alam Flora Sdn Bhd’s RM700 million Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) Programmes, with a stable outlook. The ratings are underpinned by Alam Flora’s long-term concession with the Government of Malaysia, which provides strong revenue visibility and stable cash flow generation. Additional support stems from

MARC Ratings has affirmed its AAA, AA and A ratings on Trusmadi Capital Sdn Bhd’s RM235 million Class A, RM40 million Class B and RM25 million Class C Issue 1 Medium-Term Notes (MTN). The rating agency has also affirmed its MARC-1 rating on the company’s RM300 million Issue 1 Commercial Papers (CP). The MTN and

MARC Ratings has maintained the MARCWatch Developing status on its financial institution ratings on Kuwait Finance House (Malaysia) Berhad (KFH Malaysia). The MARCWatch placement, which has remained since 1 August 2024, followed KFH Malaysia’s announcement of its voluntary withdrawal from the Malaysian market and planned wind-down of operations, in alignment with KFH Group’s strategic focus

MARC Ratings has affirmed its AA+IS rating on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes (Sukuk Musharakah) Programme and its AA-IS rating on the RM2.0 billion Perpetual Sukuk Programme. The outlook on all ratings is stable. The ratings reflect UMW’s strong business profile, underpinned by its leading position in Malaysia’s automotive industry through