MARC has affirmed its rating of AA+IS on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musharakah Programme with a stable outlook. The rating reflects 1) Westports’ strategic location along one of the world’s busiest shipping routes and its favourable cargo-handling facilities; 2) the company’s steady financial performance under long-term concession agreement; 3) strong...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musharakah Programme with a stable outlook. Westports’ outstanding amount under the sukuk programme stood at RM1.5 billion as at June 25, 2019.   Westports’ strong position as a key port ...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s RM2.0 billion Sukuk Musyarakah Programme with a stable outlook. Westports’ strong position as a key port operator in the region, consistently high and stable profit margin as well as strong financial service coverage continue to be key rating drivers. Moderating the rating is increasing competitive pressure arising from (...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musyarakah Programme with a stable outlook. The rating is driven by Westports’ solid financial metrics as reflected by its stable operating margins and strong finance service coverage on the back of commendable operational performance. The rating also benefits from Westport’s strong compe...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musyarakah Programme with a stable outlook. In affirming the rating, the rating agency has considered the potential migration of container traffic volume by one of Westports’ major clients, CMA CGM SA (CMA CGM), to Pasir Panjang Terminal in Singapore. CMA CGM, which contributed 3.31 million...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musyarakah Programme with a stable outlook. The affirmed rating reflects Westports’ strong market position as a transhipment hub in the region through its operations of five conventional terminals and seven container terminals that have a total handling capacity of 11 million twenty-foot ...

MARC has affirmed its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah Programme of up to RM2.0 billion with a stable outlook. The rating reflects Westports’ strong competitive position in transshipment services in the region, its strong operational track record and cash flow generation. The rating is, however, moderated by the group’s container throughpu...

MARC has withdrawn its AA+IS rating on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah Medium-Term Notes Programme of up to RM800.0 million. The withdrawal follows the early termination of the facility as confirmed by the facility agent RHB Investment Bank Berhad on September 9, 2013. No sukuk were outstanding under the facility prior to cancellation. MARC’s analytical covera...

MARC has affirmed its ratings of AA+IS on both Westports Malaysia Sdn Bhd’s (Westports) sukuk issuances comprising Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium Term Notes (MTN) Programme of up to RM800 million. The outlook on both ratings is stable. The affirmed ratings take into account Westports’ competitive position as a leading port operator...

MARC has affirmed its sukuk ratings of AA+IS  on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium  Term Notes (MTN) Programme of up to RM800 million. The rating outlook for both issues is stable.  The affirmed ratings incorporate Westports’ strategic location and strong operational track record...