[RAM] Al Dzahab Assets fully redeems Tranche 3 Sukuk

RAM Ratings has received confirmation that Al Dzahab Assets Berhad fully redeemed its outstanding Tranche 3 RM40.0 mil Class A and RM45.0 mil Class B Sukuk Murabahah on 29 March 2024. Class B was redeemed on the expected maturity date and ahead of the legal maturity date of 29 September 2025. We have accordingly withdrawn the AAA/Stable ratings of Classes A and B and no longer have any rating obligation in respect of the said sukuk. The ratings were last published on 31 May 2023 (click here).

We will continue to provide coverage of the remaining outstanding tranches (Tranche 4 and 5) under Al Dzahab’s RM900 mil Sukuk Murabahah Asset-Backed Securitisation Programme. The transaction involves the securitisation of personal financing facilities extended to civil servants, originated through the business partners of RCE Marketing Sdn Bhd, a wholly owned subsidiary of RCE Capital Berhad.