Malaysia’s CJ Capital gets AAA Rating Re-Affirmation on its MYR 114 Million Sukuk Murabahah from RAM Ratings; Outlook Stable

RAM Ratings re-confirmed its AAA rating on CJ Capital’s (CJC) MYR 114 million Sukuk Murabahah (2010/2020), which is set to mature later in 2020. The ratings agency also re-confirmed its Stable outlook on the Sukuk.

The re-affirmation comes on the back of CJC consistently meeting its financial obligations, supported by timely and continuous annuity payments from the Johor State Government.

CJ Capital received the last annuity payment in January 2019, a month in advance, and with this, all outstanding dues on the Sukuk are fully paid.

CJ Capital can comfortably pay off the principal and profit repayments on the Sukuk, worth MYR 15.83 million, using its cash reserves which stood at MYR 23.66 million at the end of December 2019. These payments are due to S...