Press Releases - Category: Infrastructure & Utilities
Displaying 1-10 of 656 results.
Friday, Oct 23, 2020
MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. The MARCWatch extension continues to reflect the pending outcome of the ongoing negotiations on toll restructuring between the toll concessionaire and the government. Negotiations between the parties have dragged on for longer than expected. MARC, ne...

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Wednesday, Oct 21, 2020
MARC has affirmed its AAAIS rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The current outstanding of RM50.0 million BaIDS is payable in December 2022.The rating incorporates a three-notch uplift for parental support from Putrajaya Holdings Berhad (PJH), which carries a AAA/stable...

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Monday, Oct 12, 2020
MARC has assigned a preliminary rating of AA-IS to Sparks Energy 1 Sdn Bhd’s (Sparks Energy 1) proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM220.0 million. The rating outlook is stable.Sparks Energy 1 is a special purpose vehicle incorporated to raise funding to develop a 30MWac solar power plant in Kuala Muda, Kedah and Machang, Kelantan. The power plants ar...

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Thursday, Oct 08, 2020
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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Tuesday, Oct 06, 2020
MARC has affirmed its AA-IS rating on Malaysia Marine and Heavy Engineering Holdings Berhad’s (MHB) RM1.0 billion Sukuk Murabahah Programme with a stable outlook.MHB’s strong competitive advantage as the largest domestic offshore fabricator, its conservative balance sheet and strong liquidity position are key rating drivers. The rating also incorporates a one-notch uplift based on MHB’s stat...

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Thursday, Oct 01, 2020
MARC has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds (Junior Bonds). The three-notch rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordination to the Senior Sukuk with regard to security ranking and payment pr...

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Wednesday, Sep 30, 2020
MARC has affirmed its AA-IS rating on Konsortium KAJV Sdn Bhd’s (KAJV) RM1.0 billion Sukuk Wakalah Programme with a stable outlook. KAJV is a single-purpose company undertaking the Kuala Terengganu Utara (KTU) water supply project for the Terengganu State Government.The rating reflects the credit strength of the Terengganu State Government to meet the unconditional and irrevocable payment o...

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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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