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MARC has affirmed its rating of AA-IS on Penang Port Sdn Bhd’s (PPSB) Islamic Medium-Term Notes Issuance Programme of up to RM1.0 billion with a stable outlook. PPSB operates Penang Port under a long-term concession agreement expiring on December 31, 2041. The affirmed rating factors in our view that Penang Port would be able to weather the challenging trade environment stemming from the im...
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