RAM Reaffirms Konsortium ProHAWK’s MYR 900 Million Islamic Medium-Term Notes Programme at AA2/Stable

RAM Ratings (RAM) has reaffirmed the ratings of Konsortium ProHAWK’s (ProHAWK) MYR 900 million Islamic Medium-Term Notes Programme (IMTN) (2013/2033) at AA2/Stable.

ProHAWK is a Malaysian-based construction company that is engaged in the design, construction, commission and maintenance of hospital buildings and related facilities and infrastructure. It currently holds the concession for the Women and Children Hospital (WACH) in Kuala Lumpur. ProHAWK is a 65:35 joint venture between UEM Group and Najcom, and stands to benefit from robust shareholder support, as well as financial assistance if necessary.

The reaffirmation reflects RAM’s expectation that ProHAWK will be able to maintain a minimum finance service coverage ratio of 1.50 times through the tenur...