MARC has affirmed its rating of AA-IS on Cerah Sama Sdn Bhd’s (Cerah Sama) RM420.0 million sukuk issued under its RM750.0 million Sukuk Musharakah Programme with a stable outlook. Cerah Sama is the investment holding company of Grand Saga Sdn Bhd (Grand Saga), the concession holder of the 11.5-kilometre Cheras-Kajang Highway. Cerah Sama also acts as the investment vehicle of its major shareh...

MARC assigns a rating of AA-IS to Cerah Sama Sdn Bhd’s (Cerah Sama) proposed first issuance of RM420.0 million sukuk under its RM750.0 million Sukuk Musharakah Programme with a stable outlook. The rating on the sukuk derives from MARC’s assessment of the underlying economic strength of the Cheras-Kajang Expressway operated by Cerah Sama’s key and only material operating subsidiar...