MARC has assigned a preliminary rating of AA-IS to Jimah East Power Sdn Bhd’s (JEP) proposed Sukuk Murabahah of up to RM10.0 billion. The outlook on the rating is stable. The proceeds from the proposed Sukuk Murabahah will be used to develop, design and construct a 2x1,000-megawatt ultra-supercritical coal-fired power plant in Negeri Sembilan. National utility company Tenaga Nasional Berhad...

MARC has withdrawn its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah Programme (Sukuk) of up to RM8.4 billion with immediate effect. The rating had been suspended since March 6, 2015 pending information from the project sponsors in relation to the project timeline. As the grace period for providing the information has ended, MARC has withdrawn the rating and will no longer be ...

MARC has suspended its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah Programme (Sukuk) of up to RM8.4 billion. Since assigning the rating on the Sukuk on October 28, 2014, the long delay to the issuance of Sukuk and the original scheduled financial close of JEP’s proposed development of 2x1,000MW ultra-supercritical coal-fired power plant in Negeri Sembilan (Project 3B) has...

MARC has assigned a final rating of AA-IS to Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah Programme of up to RM8.4 billion. The outlook on the rating is stable. Upon review of the final documentation of the forthcoming issuance, MARC is satisfied that the terms and conditions of the Sukuk Murabahah have not changed in any material way from the draft documents on which the earlier preliminary...

MARC has assigned a preliminary rating of AA-IS  to Jimah East Power Sdn Bhd’s (JEP) proposed Sukuk Murabahah Programme of up to RM8.4 billion. The outlook on the rating is stable. JEP is a 70:30 joint venture between Pelita Merpati Sdn Bhd (PMSB) and 3B Power Sdn Bhd (3B Power) that was set up to finance and develop a greenfield 2x1,000MW ultra-supercritical coal-fired power plant (Projec...