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MARC Ratings has affirmed its rating on port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM2.15 billion Islamic Medium-Term Notes (Sukuk Murabahah Programme) at AAIS. The rating outlook is stable. The rating affirmation is driven by PTP’s strong position as the operator of a key container transhipment port in the region that has benefitted from continued investments and the experti...
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MARC Ratings has affirmed its AAIS rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding RM400.0 million Sukuk Programme with a stable outlook. KPSB owns a 285MW combined-cycle gas-fired power plant in Kimanis Bay, Sabah. The rating continues to be underpinned by KPSB’s 21-year power purchase agreement (PPA) with Sabah Electricity Sdn Bhd (SESB), which effectively mitigates demand risk and...
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MARC Ratings has assigned a preliminary MARC-1IS rating to OCK Group Berhad’s (OCK) proposed RM500.0 million Islamic Commercial Papers (ICP) Programme. The rating agency has concurrently affirmed its AA-IS/Stable rating on OCK’s RM400.0 million Tranche 1 Sukuk Murabahah under its RM700 million Sukuk Murabahah Programme. As at end-February 2024, the outstanding amount under the Sukuk Murabahah ...
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