MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.50 billion Sukuk Murabahah with a stable outlook. The rating affirmation reflects JEP’s predictable cash flows from its 2x1,000-MW ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The rating also reflects its operational and financi...

MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.72 billion Sukuk Murabahah with a stable outlook. The rating affirmation is underpinned by JEP’s predictable cash flows from its 2x1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/stable). The rating also inc...

MARC has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.82 billion Sukuk Murabahah. The rating outlook is stable.The affirmed rating incorporates JEP’s predictable cash flows from its 2x1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The rating also reflects the operational and f...

MARC has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. The affirmed rating reflects (1) JEP’s predictable cash flows from its 2x1000MW ultra-supercritical coal power plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB), (2) its operational and financial linkages with TNB, wh...

MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook.JEP operates a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan. The affirmed rating incorporates (1) the predictable cash flows from the power plant, (2) a manageable repayment profile that matches JEP’s availabili...

MARC has issued this update on Jimah East Power Sdn Bhd (JEP) following the announcement of a delay in its power plant achieving commercial operation date (COD) as scheduled. JEP is developing a 2x1,000MW ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). Upon completion of construction, JEP will o...

MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. JEP was established to develop, design, construct and operate a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The affirmed ra...

MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. The affirmed rating incorporates predictable project cash flows, a manageable repayment profile that matches JEP’s availability-based revenue structure under the power purchase agreement (PPA) and the credit strength of project sponsors Tenaga Nasion...

MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. JEP was established to develop, design, construct and operate a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). As at August 31...

MARC has assigned a final rating of AA-IS to Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah of up to RM10.0 billion. The outlook on the rating is stable. The final rating takes into account the amendments made to the issue structure and terms of the rated issuance since the preliminary rating was announced on September 2, 2015. The key amendment requires the project sponsors, Tenaga Nasional ...