Press Releases
Displaying 1-7 of 7 results.
Thursday, Jul 15, 2021
MARC has affirmed its rating of AA-IS on Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) RM210 million Sukuk Murabahah Issuance, with a stable outlook. The affirmation reflects Grand Sepadu’s adequate cash flow coverage and moderately leveraged capital structure. Moderating the rating are uncertainties on the implementation of the scheduled toll rate hikes and timing of government compensation...

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Thursday, Aug 13, 2020
MARC has affirmed its rating of AA-IS on toll road concessionaire Grand Sepadu (NK) Sdn Bhd’s RM210.0 million Sukuk Murabahah. The rating outlook has been revised to stable from negative. The outstanding sukuk stood at RM150.0 million as at August 5, 2020. The revised outlook incorporates a substantial reduction in the uncertainties surrounding the collection of toll compensation for Grand ...

This article has been viewed 192 times.
Wednesday, Jul 31, 2019
MARC has affirmed its AA-IS rating on Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) Sukuk Murabahah issuance of RM210.0 million. The rating outlook remains negative. The affirmed rating incorporates Grand Sepadu’s adequate cash flow coverage, its moderately leveraged capital structure and the improving traffic on New North Klang Straits Bypass (NNKSB). The negative outlook highlights the co...

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Thursday, May 11, 2017
MARC has affirmed the AA-IS rating on Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) Sukuk Murabahah issuance of RM210 million. The outlook on the rating is stable. Grand Sepadu is indirectly equally owned by Taliworks Corporation Berhad and the Employees Provident Fund with a 37.5% stake each. The affirmation reflects Grand Sepadu’s adequate cash flow coverage, underpinned by stable traffic...

This article has been viewed 647 times.
Monday, Jun 20, 2016
MARC has affirmed its AA-IS rating on Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) issuance of RM210.0 million Sukuk Murabahah. The outlook on the rating is stable. Grand Sepadu is the concessionaire of the New North Klang Straits Bypass (NNKSB) expressway until 2032. The 17.5km expressway has four toll plazas namely Kapar, Kapar Westbound, Kapar Eastbound and Bukit Raja. Grand Sepadu is indirect...

This article has been viewed 744 times.
Wednesday, May 20, 2015
MARC has assigned a final rating of AA-IS to Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) issuance of RM210.0 million Sukuk Murabahah (sukuk). The outlook on the rating is stable. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the sukuk have not changed in any material way from the draft documentation on which the earlier preliminary ...

This article has been viewed 801 times.
Wednesday, Apr 29, 2015
MARC has assigned a preliminary rating of AA-IS to Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) proposed issuance of RM210.0 million Sukuk Murabahah (sukuk). The outlook on the rating is stable. The proceeds from the issuance will be mainly utilised to facilitate the roll-over of Grand Sepadu’s existing bridging loan of RM200 million that was taken to part-finance the acquisition of asse...

This article has been viewed 999 times.