MARC’s AA+ID ratings on Kapar Energy Venture’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) remains on MARCWatch Negative pending completion of our on-going rating review. The BaIDS had been placed on MARCWatch Negative on July 22, 2008 due to concerns arising from the continued failure of Kapar Power Station (KPS) to maintain acceptable rolling aver...

MARC has placed its AA+ID rating on Kapar Energy Venture's (KEV) RM3,402.0 million Bai' Bithaman Ajil Islamic Debt Securities (BaIDS) on MARCWatch Negative. The rating action reflects MARC's concerns pertaining to unresolved technical issues at Kapar Power Station (KPS) which have affected its ability to consistently achieve its required availability under KEV's Power Purchase Agreement (PPA) with...

MARC has reaffirmed Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) rating at AA+ID.  The rating carries a stable outlook.  The rating principally reflects a 25-year power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB), its off-taker and majority shareholder.  Under the PPA, KEV receives monthly capacity payments...

Pursuant to Malakoff Berhad’s (“Malakoff”) conditional Master Sale Agreement with Nucleus Avenue (M) Sdn Bhd (“NAB”), a wholly-owned subsidiary of MMC Corporation Berhad (“MMC”), for the proposed disposal of the entire business and undertakings of Malakoff, which includes its current 40% shareholding in Kapar Energy Ventures Sdn Bhd (“KEV”) to ...

MARC has reaffirmed Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) rating at AA+ID with a stable outlook.  The rating reflects the project’s stable and predictable cash flow supported by the contracted capacity payments as well as the credit strength of the off-taker cum majority shareholder, Tenaga Nasional Bhd (TNB). TNB c...

MARC has affirmed the AA+ID rating of Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the project’s stable and predictable cash flow supported by the contracted capacity payments as well as the credit strength of the off-taker cum majority shareholder, Tenaga Nasional Bhd (TNB). TNB carries an issuer rating of AA+ fr...

MARC has assigned AA+ID to Kapar Energy Ventures Sdn Bhd’s (KEV) proposed RM3,402 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The accorded rating reflects the project’s stable and predictable cash flow supported by the contracted capacity payments as well as the credit strength of the off-taker cum majority shareholder, Tenaga Nasional Bhd (TNB). TNB carries an issuer rating of ...