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MARC has withdrawn the AID rating assigned to Sapura Energy Sdn Bhd’s RM140.0 million Al-Bai’Bithaman Ajil Islamic Debt Securities (BaIDS) following the full redemption of the BaIDS as confirmed by the facility agent, CIMB Investment Bank Berhad. Contacts: Hafizan Haron 03-2090 2238/ hafizan@marc.com.my; Nor Azlina Abdullah, 03-2090 2256/ norazlina@marc.com.my. ...
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MARC has reaffirmed the long term rating of Sapura Energy Sdn Bhd’s (“SESB” or “the Group”) RM140 million Al Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating carries a stable outlook. The reaffirmed rating reflects SESB’s moderate business profile as an oil and gas service provider with sustained operating track record evidenced by its...
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The rating for Sapura Energy Sdn Bhd’s (SESB) RM140 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) is reaffirmed at AID reflecting the bright outlook of the oil and gas (O&G) industry, especially in the upstream segment; SESB’s strength in the marine engineering business; and synergies arising from the business expansion of the SapuraCrest Petroleum Berhad (Sap...
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MARC has received confirmation that the second series of SESB’s Al-Bai Bithaman Ajil Secured Serial Debt Securities (2002/2008) amounting to RM25.0 million had been redeemed on 14 December 2005. After the aforementioned redemption, the current outstanding BaIDS Facility stands at RM95.0 million....
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MARC has reaffirmed the rating for Sapura Energy Sdn Bhd’s (SESB) RM140 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID reflecting the company’s strength in the marine engineering business; synergies arising from the consolidation of the company under SapuraCrest Petroleum Berhad (SapuraCrest); and its stable financial profile. The rating, however, is moderated by the ...
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The rating for Sapura Energy Sdn Bhd (SESB) is reaffirmed at AID reflecting the company’s strength in the marine engineering business; synergies arising from the consolidation of the company under SapuraCrest Petroleum Berhad (SapuraCrest); and its stable financial profile. The rating, however, continues to be moderated by the company’s debt leverage position. SESB’s main revenue generator ...
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Sapura Energy Sdn Bhd’s (“SESB”) rating upgrade to AID is supported by its strength in the marine engineering business, improving financial position and the synergies arising from its proposed acquisition by Crest Petroleum Bhd (“Crest”), one of the largest oil and gas well drilling and marine contractors in Malaysia. The rating is, however, moderated by its high debt leverage position. ...
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MARC has assigned a long term rating of A-ID (Single A minus, Islamic Debt) in respect of Sapura Energy Sdn Bhd’s (SESB) proposed RM140 million Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the SESB group’s strong market position in subsea and marine engineering activities; provision of maintenance services for light and heavy industrial turbines; provision of the ...
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