Al Dzahab Assets fully redeems Tranche 1 Sukuk

Published on 23 Jun 2023.

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RAM Ratings has received confirmation that Al Dzahab Assets Berhad fully redeemed its outstanding Tranche 1 RM20.0 mil Class A and RM25.0 mil Class B Sukuk Murabahah on 21 June 2023. Class B was redeemed on its expected maturity date and ahead of its legal maturity date of 20 December 2024. We have accordingly withdrawn the AAA/Stable ratings of Class A and Class B and no longer have any rating obligation in respect of the said sukuk. RAM last rated the Tranche 1 Sukuk on 31 May 2023.

RAM Ratings will continue to provide coverage for the remaining outstanding tranches (Tranches 2 to 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.


Analytical contacts
Zachary Tan
(603) 3385 2612

Lim Chern Yit
(603) 3385 2528


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