Rating action          MARC Ratings has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) outstanding sukuk of RM3.4 billion with a stable outlook. Southern Power owns a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang which achieved commercial operations dates (COD) on January 1, 2021 (Unit 1) and February 19, 2021 (...

Rating action     MARC Ratings has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) outstanding Sukuk Wakalah of RM3.6 billion with a stable outlook.Southern Power owns a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang which achieved commercial operations dates (COD) on January 1, 2021 (Unit 1) and February 19, 2021 (Unit 2). It is 70%...

Rating action     MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power was established to develop a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang. It is 70% directly and indirectly owned by Tenaga Nasional Berhad (TNB) while the remaining is held by SIPP ...

MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power is a 51:49 joint venture between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd (SIPP), and was established to develop a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang.The rating affirmation reflects the steady c...

MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power is a 51:49 joint venture between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd (SIPP) and was established to develop a 2x720MW combined cycle gas-fired power plant in Pasir Gudang. The rating affirmation reflects t...

MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. The affirmed rating primarily reflects Southern Power’s predictable operational cash flow on the back of an availability-based tariff structure under a 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/Stable). ...

MARC has assigned a rating of AA-IS to Southern Power Generation Sdn Bhd’s (Southern Power) proposed Sukuk Wakalah of up to RM4.0 billion. The outlook on the rating is stable. Southern Power, a 51:49 joint venture (JV) between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd (SIPP), will utilise proceeds from the sukuk to develop a 2x720-megawatt (MW) combined cycle gas-fired plant in Pasir ...