Credit Analysis Reports
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Rating action     MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650.0 million with a stable outlook. Total outstanding under the sukuk as at end-June 2021 is RM570 million.Rationale     SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd. The latter holds an 80% interest in Ranhill SAJ Sdn Bhd, the exclusive pr...


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MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million. The rating outlook is stable.SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd, which holds an 80% interest in Ranhill SAJ Sdn Bhd (RSAJ), the sole water treatment operator and treated water distributor in Johor. SAJ Capital functions only as a single-purpose funding conduit for the sukuk iss...


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Popularity: 963 views 56 downloads
MARC has affirmed its AA-IS rating on single-purpose company SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million with a stable outlook.SAJ Capital Sdn Bhd is 100%-owned by Ranhill Capital Sdn Bhd which holds an 80% interest in Ranhill SAJ Sdn Bhd (SAJ), the sole water treatment operator and treated water distributor in Johor. The affirmed rating reflects the credit strength of ...


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Popularity: 915 views 78 downloads
MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650.0 million for up to 12 years. The outlook on the rating is stable. The rating on SAJ Capital is equated with that of its sister company Ranhill SAJ Sdn Bhd (SAJ) on the basis that the former functions as a single-purpose funding conduit for the sukuk. SAJ Capital and SAJ are held by Ran...


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Popularity: 811 views 54 downloads
MARC has assigned a rating of AA-IS to SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650 million for up to 12 years. The outlook on the rating is stable. SAJ Capital is wholly owned by Ranhill Capital Sdn Bhd (RCSB), which in turn is a wholly-owned subsidiary of Bursa Malaysia-listed Ranhill Holdings Berhad (Ranhill). RCSB holds an 80% interest in SAJ Ranhill Sdn Bhd (SAJ), the...


Normal Price: RM500.00       Subscriber Price: Free Download