MARC affirms rating on Sime Darby Property’s RM4.5bil sukuk

KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) has affirmed its AA+IS rating with a stable outlook on Sime Darby Property Bhd’s (SD Property) Islamic medium-term notes programme of RM4.5bil under the Shariah principle of Musharakah.

In a statement, MARC said SD Property’s well-established position as a township developer and its strong sales track record in domestic property development remain key rating drivers.