Press Releases - Category: Infrastructure & Utilities
Displaying 1-10 of 649 results.
Friday, Sep 18, 2020
MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The rating is mainly driven by UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company wil...

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Friday, Sep 18, 2020
MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding Islamic securities (sukuk) of RM1.415 billion. The rating carries a stable outlook. TNB Northern is a funding vehicle of TNB Prai Sdn Bhd which owns and operates a 1,071.43-MW combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang under a 21-year power purchase agreement (PPA) with...

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Monday, Sep 14, 2020
MARC has affirmed its AAIS rating on BEWG (M) Sdn Bhd’s (BEWG) RM400 million Sukuk Wakalah with a stable outlook. BEWG is a 100%-subsidiary of Hong Kong-based Beijing Enterprises Water Group Limited (BEWGL) and was awarded a design-and-build contract to refurbish and upgrade the Kemaman Water Project by the Terengganu state government. Upon completion of the project, BEWG will be entitled t...

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Wednesday, Sep 09, 2020
MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s (TNB Western) sukuk of up to RM4.0 billion. The rating carries a stable outlook. The rating is equalised to its ultimate parent Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable based on the unconditional and irrevocable rolling guarantee from TNB to fund shortfalls in the finance service account during t...

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Wednesday, Sep 02, 2020
MARC has affirmed its A+IS(s) rating on Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd’s (PLSUKE) Sukuk Wakalah Programme (Sukuk Wakalah) of up to RM2.0 billion. The rating outlook has been revised to stable from negative.The previous negative outlook reflected a potential construction delay then in relation to the company’s Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project and the impa...

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Friday, Aug 21, 2020
MARC has extended its MARCWatch Negative placement on MEX II Sdn Bhd’s RM1.3 billion Sukuk Murabahah Programme and RM150.0 million Junior Bonds. MARC had first placed the ratings on watch in May 2020 because of the company’s lack of sufficient progress with respect to its 16.8-km Lebuhraya Putrajaya-KLIA highway project (MEX Extension) and its inability to meet the project milestones since the...

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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 ...

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Monday, Jul 27, 2020
MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah. The rating outlook has been revised to negative from stable. KEV owns and operates the 2,200 MW Kapar Power Station. The affirmed rating benefits from a two-notch support uplift from KEV’s standalone rating of AA- to reflect MARC’s expectation of a very high probability of parental su...

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Friday, Jul 24, 2020
MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. This rating action follows from the previous rating actions in January and April 2020. The MARCWatch extension continues to reflect the pending outcome of the ongoing negotiations on toll restructuring between the toll concessionaire and the government.Th...

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Wednesday, Jul 01, 2020
MARC has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM245.0 million. The rating outlook is stable.Sinar Kamiri owns and operates a 49.0MWac solar photovoltaic plant (SPP), which has been operational since November 27, 2018. The affirmed rating reflects Sinar Kamiri’s steady project fundamentals th...

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