Press Releases
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Monday, Dec 30, 2019
MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s sukuk of up to RM4.0 billion with a stable outlook. TNB Western Energy is the funding vehicle of TNB Manjung Five Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB) and which was awarded a 25-year power purchase agreement (PPA) in 2013. The rating and outlook of TNB Western Energy are equalised with TNB’s c...

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Monday, Feb 11, 2019
MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s Sukuk of up to RM4.0 billion with a stable outlook. TNB Western Energy is the funding vehicle of parent TNB Manjung Five Sdn Bhd, a wholly-owned subsidiary of TNB. The rating and outlook are equalised with Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable on the basis of the rolling guarantee and commitm...

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Thursday, Jan 18, 2018
MARC has affirmed its rating of AAAIS on TNB Western Energy Berhad’s (TNB Western Energy) Sukuk of up to RM4.0 billion with a stable outlook. The rating and outlook are equalised with Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable, taking into consideration the post-completion rolling guarantee provided by the parent to fund shortfalls in the finance service account (FSA...

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Friday, Jan 27, 2017
MARC has affirmed the rating of AAAIS on TNB Western Energy Berhad’s (TNB Western Energy) Islamic Sukuk of up to RM4.0 billion with a stable outlook.  TNB Western Energy is the funding conduit of TNB Manjung Five Sdn Bhd (TNB Manjung Five), the project company for the construction of the 1,000-megawatt ultra-supercritical coal-fired power plant under a 25-year power purchase agreement ...

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Friday, Feb 05, 2016
MARC has affirmed the rating of AAAIS on TNB Western Energy Berhad’s (TNB Western Energy) Islamic Sukuk of up to RM4.0 billion with a stable outlook. TNB Western Energy is the funding vehicle of TNB Manjung Five Sdn Bhd (TNB Manjung Five) to undertake the construction of a 1,000MW ultra-supercritical coal-fired power plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional...

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Wednesday, Jan 14, 2015
MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s (TNB Western Energy) Islamic Sukuk (sukuk) of up to RM4.0 billion with a stable outlook. TNB Western Energy is a wholly-owned funding vehicle of TNB Manjung Five Sdn Bhd (TNB Manjung Five), which is in turn a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB). TNB Manjung Five was incorporated to undertake the constructi...

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