MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is the funding vehicle of Trans Thai-Malaysia (Thailand) Ltd (TTMT) for the construction of two additional gas pipelines to transport natural gas from the Malaysia-Thailand Joint Development Area (JDA) in the Gulf of Thailand to the industrial city of Rayong in T...

MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a funding vehicle of Trans Thai-Malaysia (Thailand) Ltd (TTMT), an equal joint venture between national oil companies of Malaysia and Thailand, namely Petroliam Nasional Berhad (PETRONAS) and PTT Public Company Ltd (PTT) respectively. The sukuk was issued to fu...

MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a funding vehicle of Trans Thai-Malaysia (Thailand) Ltd (TTMT), a 50:50 joint-venture between Petroliam Nasional Berhad (PETRONAS) and Thailand's PTT Public Company Ltd (PTT). The sukuk was issued to fund the construction of two gas pipelines to transport natur...

MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a funding vehicle of Trans-Thai Malaysia (Thailand) Ltd (TTMT), a 50:50 joint-venture between Petroliam Nasional Berhad (PETRONAS) and Thailand's PTT Public Company Ltd (PTT). TTM SPV was incorporated to raise funding for the construction of two gas pipelines t...

MARC has assigned a rating of AAAIS to TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah. The rating outlook is stable.The transaction structure involves TTM SPV as a funding vehicle issuing 5- to 15-year Sukuk, the proceeds of which will be loaned to parent Trans Thai-Malaysia (Thailand) Ltd (TTMT). TTM SPV is a special purpose entity set up for the sole purpose of issuing the Su...