[RAM] Zamarad fully redeems Tranche 1 Sukuk

RAM Ratings has received confirmation that Zamarad Assets Berhad fully redeemed its outstanding Tranche 1 RM50 mil Class A and RM45 mil Class B Sukuk on 27 March 2026. Class B was redeemed on the expected maturity date and ahead of the legal maturity date of 27 September 2027. We have accordingly withdrawn the AAA/Stable ratings of Classes A and B and no longer have any rating obligation in respect of the said sukuk.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 published on 22 May 2025 (click here).

We will continue to provide coverage of the remaining outstanding tranches (Tranche 2 to 11) under Zamarad’s RM2.0 bil 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.


Analytical contacts
Darrel Tiang 
(603) 2708 8219
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