Press Releases MARC WITHDRAWS ITS RATING ON KAPAR ENERGY VENTURES SDN BHD’S RM3,402.0 MILLION BaIDS FOLLOWING DEBT REPAYMENT

Thursday, Jul 03, 2014

MARC has withdrawn its AA+ID rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) upon full early redemption of the outstanding notes from the proceeds of the RM2.0 billion Sukuk Ijarah. Going forward, MARC’s rating surveillance is now limited to the Sukuk Ijarah which is rated AA+IS with a stable outlook.

KEV was established to acquire and operate the Stesen Janaelektrik Sultan Salahuddin Abdul Aziz, or Kapar Power Station (KPS), the largest multi-fuel thermal power station in Malaysia with a nominal capacity of 2,420 megawatts (MW).

Contacts:
David Lee, +603-2082 2255/
david@marc.com.my;
Koh Shu Yunn, +603-2082 2243/
shuyunn@marc.com.my