Al Dzahab Assets fully redeems Tranche 2 Sukuk

Published on 02 Oct 2023.

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RAM Ratings has received confirmation that Al Dzahab Assets Berhad fully redeemed its outstanding Tranche 2 RM30.0 mil Class A and RM35.0 mil Class B Sukuk Murabahah on 29 September 2023. Class B was redeemed on the expected maturity date and ahead of the legal maturity date of 28 March 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 We have accordingly withdrawn the AAA/Stable ratings of Classes A and B and no longer have any rating obligation in respect of the said sukuk.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 published on 31 May 2023 (click here).

RAM will continue to provide coverage of the remaining outstanding tranches (Tranches 3 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.


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Zachary Tan
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Lim Chern Yit
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Sakinah Arifin
(603) 3385 2500


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