RAM: Jati Cakerawala’s MYR 540 Million Sukuk Murabahah Rating Reaffirmed at A1/Stable

RAM Ratings (RAM) has reaffirmed the rating of Jati Cakerawala’s (Jati) MYR 540 million Sukuk Murabahah (2013/2023) at A1/Stable.

Jati, a Malaysian-based investment holding company, relies solely on cash flow from dividend distributions of its subsidiary Teknologi Tenaga Perlis Consortium (TTPC), an independent power producer that owns and operates a 650 MW gas turbine power plant in Perlis, Malaysia.

TTPC’s laudable operational key performance indicators and ability to generate cash flow is underlined by RAM’s AA1/Stable rating of TTPC’s MYR 835 million Sukuk Murabahah (2013/2023), which ensures a steady cash flow towards Jati.

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