[RAM] RAM Ratings assigns final ratings to Tranche 6 Sukuk to be issued by RCE Marketing's financing vehicle, Al Dzahab

RAM Ratings has assigned respective final ratings of AAA/Stable and AA₂/Stable to Al Dzahab Assets Berhad's (Al Dzahab or the Issuer) Tranche 6 RM80.0 mil Class A Sukuk and RM20.0 mil Class B Sukuk (the Sukuk). This is the sixth issuance under Al Dzahab's RM900 mil Sukuk Murabahah Programme, sponsored by RCE Marketing Sdn Bhd (RCEM or the Originator).
 
In assigning the final ratings, we have reviewed all relevant transaction documents, credit enhancement, the final sukuk terms (including tranche amount, tenure and profit rates) and tax estimates. We find these to be in line with our expectations when we assigned the preliminary ratings, published on 20 May 2025 (click here). Please refer to the final rating rationale for details.

RAM will maintain surveillance of the transaction on a regular basis via monthly performance reports prepared by the Servicer and the Trustee. We will keep the ratings under surveillance as long as there are outstanding rated sukuk under this issuance.

 

Analytical contacts
Sean Lim, CFA 
(603) 2708 8253
sean@ram.com.my

Lim Chern Yit
(603) 2708 8302 
chernyit@ram.com.my

Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my