Westports Malaysia’s MYR 2.0 Billion Sukuk Musharakah Programme Rated AAA/Stable by RAM Ratings

Westports Malaysia (Westports) has been assigned a long-term rating of AAA/Stable on its MYR 2.0 billion Sukuk Musharakah Programme 2011/2031. Westports is the private operator of Malaysia’s largest container terminal and multi-cargo port (the Port), through its privatisation agreement with the Government of Malaysia and the Port Klang Authority running up until 2054.

The AAA rating reflects the strategic location and strong market position of the Port, as well as the Port’s established relationships with major international shipping lines. The Port’s natural depth gives it the ability to handle ultra-large container vessels, a competitive advantage which has supported Westports’ strong operating efficiency, profitability and leverage indicators, which...