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...

MARC Ratings has affirmed its AAIS rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding RM485.0 million Sukuk Programme. The outlook on the rating is stable. KPSB’s 285MW combined-cycle gas plant has continued to perform in line with our expectations, meeting all stipulated requirements under its 21-year power purchase agreement (PPA) with offtaker, Sabah Electricity Sdn Bhd (SESB). In 20...

MARC Ratings has affirmed its AAIS rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding sukuk of RM585.0 million with a stable outlook. The rating affirmation reflects KPSB’s steady cash flow generation attributed to the consistent performance of its plant that has continued to exceed the minimum requirements under its Power Purchase Agreement (PPA). Demand risk under the PPA is mitigated...

MARC has upgraded the rating on Kimanis Power Sdn Bhd's (KPSB) outstanding RM650.0 million Sukuk Programmes (sukuk) to AAIS from AA-IS. The rating outlook is stable.The rating upgrade is premised on the consistently strong operational performance of KPSB’s 285-megawatt combined-cycle gas-fired power plant at Kimanis Bay in Sabah, that has enabled the plant to meet the requirements under the powe...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. KPSB owns and operates a 285-megawatt (MW) combined-cycle gas-fired power plant in Kimanis Bay, Sabah. The rating affirmation reflects the favourable power purchase agreement (PPA) that allocates demand risk to the offtaker Sabah Electricity Sdn Bhd (SESB), an ...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. The rating affirmation factors in the favourable terms of KPSB’s 21-year power purchase agreement (PPA) under which the demand risk is allocated to the offtaker Sabah Electricity Sdn Bhd (SESB). Tenaga Nasional Berhad (TNB), which has a MARC rating of AAA/St...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. KPSB is the owner of the 285-megawatt (MW) combined-cycle gas-fired power plant at Kimanis Bay, Sabah. The rating affirmation is underpinned by the favourable terms of KPSB’s 21-year power purchase agreement (PPA) with offtaker Sabah Electricity Sdn Bhd (SES...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. KPSB is the owner of a 285-megawatt (MW) combined-cycle gas-fired power plant at Kimanis Bay, Sabah. The affirmed rating continues to be underpinned by the favourable terms of KPSB’s 21-year power purchase agreement (PPA) that allocates demand risk and fuel ...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. The affirmed rating is underpinned by the favourable terms of KPSB’s 21-year power purchase agreement (PPA) with the offtaker, Sabah Electricity Sdn Bhd (SESB) under which demand risk is transferred to the offtaker. SESB is an 83%-owned subsidiary of Tenaga ...

MARC has affirmed its AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. The affirmed rating incorporates the favourable terms of KPSB’s 21-year power purchase agreement (PPA) with the offtaker Sabah Electricity Sdn Bhd (SESB). The PPA transfers demand risk and fuel price risk to SESB, an 83%-owned subsidiary of Tenaga Nasional Berhad ...