Press Releases - Category: Infrastructure & Utilities
Displaying 1-6 of 6 results.
Tuesday, Jun 22, 2021
MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power has developed a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang, which achieved commercial operation date (COD) on January 1, 2021 for Block 1 and February 19, 2021 for Block 2. The rating affirmation is drive...

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Monday, Jun 15, 2020
MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (SPG) Sukuk Wakalah of up to RM4.0 billion with a stable outlook.SPG is a 51:49 joint venture between Tenaga Nasional Bhd (TNB) and SIPP Energy Sdn Bhd (SIPP) and was established to develop a 2x720-megawatt (MW) combined-cycle gas-fired power plant in Pasir Gudang. Construction of the power plant is nearly complete, regist...

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Thursday, Apr 09, 2020
MARC is issuing this update on Southern Power Generation Sdn Bhd’s (SPG) Sukuk Wakalah to highlight the potential impact from a force majeure declaration made by the engineering, procurement and construction (EPC) contractor on the 2x720MW combined cycle gas-fired power plant project being undertaken by the company in Pasir Gudang. The declaration arose from the imposition of the Movement Contro...

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Friday, Aug 09, 2019
MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power is a 51:49 joint venture between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd (SIPP) and was established to develop a 2x720MW combined cycle gas-fired power plant in Pasir Gudang. The rating affirmation reflects t...

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Wednesday, Nov 14, 2018
MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. The affirmed rating primarily reflects Southern Power’s predictable operational cash flow on the back of an availability-based tariff structure under a 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/Stable). ...

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Thursday, Sep 21, 2017
MARC has assigned a preliminary rating of MARC has affirmed the AA--IS to Southern Power Generation Sdn Bhd’s (Southern Power) proposed Sukuk Wakalah of up to RM4.0 billion. The outlook on the rating is stable. Southern Power, a 51:49 joint venture between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd, will utilise proceeds from the sukuk to develop a 2x720-megawatt combined cycle gas-fi...

This article has been viewed 621 times.