RAM Assigns Final Ratings to RCEM’s Zamarad Assets’ Tranche 5 Sukuk Totalling MYR 100 Million

RAM Ratings (RAM) has assigned final ratings of Zamarad Asset’s (Zamarad) Tranche 5 MYR 85 million Class A Sukuk as AAA/Stable, and MYR 15 million Class B Sukuk as AA2/Stable. The Tranche 5 Sukuk is the fifth issuance under Zamarad’s MYR 2 billion Sukuk Murabahah Programme (the Programme).

Acting as a special-purpose vehicle, Zamarad was incorporated to undertake securitisation of personal financing facilities from the business partners of RCE Marketing (RCEM), which is a Malaysian financing services company.

The Tranche 5 Sukuk, like previous issuances under the Programme, will be collateralised by personal financing facilities to civil servants by RCEM. These will be p...