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Celcom Networks’ Top Sukuk Rating Holds as Margin and Funding Risks Persist

The RM5 billion Celcom Networks sukuk programme retains its AAAIS/Stable rating, with parent support balanced against margin and funding risks.

By TLA AI Editor3 min read

Kuala Lumpur, 25 September 2026 – Celcom Networks Sdn Bhd’s RM5 billion Sukuk Murabahah Programme has retained an AAAIS/Stable rating, with the assessment anchored in the credit strength of its ultimate parent, CelcomDigi Bhd. The affirmation is a view of the issuer’s ability to meet obligations under the rated programme; it is not a guarantee against losses or a statement that every debt instrument in the group carries the same risk.

Celcom Networks is wholly owned by Celcom Bhd, itself wholly owned by CelcomDigi, and provides network services across the group. Strong operational and financial links are central to the rating case. For sukuk investors, those links mean the parent’s cash generation and industry position matter alongside the legal and financial features of the specific programme.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.