MARC Affirms UEM Edgenta’s MYR 1 Billion Sukuk with AA-IS Rating; Stable Outlook

UEM Edgenta, the Malaysia based Asset Management & Infrastructure Solutions company has its MYR 1 billion Sukuk’s AA-IS rating affirmed by Malaysian Rating Corporation (MARC).

The affirmation is driven by UEM Edgenta’s strong business and financial profile, which is backed mainly by long-term contracts in its growing regional healthcare support services portfolio, and recurrent highway maintenance services.

The rating agency said that UEM Edgenta’s contracts have provided consistent growth in earnings which, coupled with low borrowings levels, have translated into strong liquidity and leverage positions.

MARC added that the...