Bond Pricing Agency Malaysia: Weekly Rating Update - 19 to 23 March

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1. WEEKLY RATING UPDATE FOR THE WEEK OF 19 MAR 2018 TO 23 MAR 2018 1 ) Introduction This report contains credit rating updates for Ringgit bond market from respective rating agencies, i.e. RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC) for the week aforementioned. 2) Rating(s) Action for the Week DATE 21-Mar-2018 ISSUER UMW Holdings Berhad FACILITY NAME PREVIOUS EFFECTIVE RATING RATING EXCERPTS On 21 March 2018, RAM Ratings placed the AA2 rating of UMW Holdings Berhad’s (“UMW”) MYR2 billion Islamic MTN Programme (2013/2028) on Rating Watch with a positive outlook, premised on the AA2 / Rating UMWH RM2.0 BILLION 15issuer’s proposed acquisitions of AA2 / Stable Watch with YEARS IMTN SUKUK Perusahaan Otomobil Kedua Sdn Bhd Outlook Positive MUSHARAKAH (“Perodua”) and MBM Resources Berhad. Outlook The acquisitions are expected to strengthen UMW’s business and financial profiles as it will become Malaysia’s largest automotive group after successfully acquiring a controlling interest in Perodua. Bond Pricing Agency Malaysia Sdn Bhd (667403-U) 26 March 2018 1
2. WEEKLY RATING UPDATE FOR THE WEEK OF 19 MAR 2018 TO 23 MAR 2018 About BPAM Bond Pricing Agency Malaysia Sdn . Bhd. (667403-U) (BPAM) is a registered Bond Pricing Agency as accredited by the Securities Commission of Malaysia. Since 2005, we have been the market leader in delivering daily evaluated pricing, index and reference data services on more than 2,500 Malaysian bonds and sukuk. BPAM serves over 100 local and international financial institutions, supporting their key data needs for portfolio valuation, risk management and regulatory compliance. For more information about BPAM, please visit https://www.bpam.com.my/ General Enquiries enquiries@bpam.com.my Disclaimer Information on this document is intended solely for the purpose of providing general information on the Ringgit Bond market and is not intended for trading purposes. None of the information constitutes a solicitation, offer, opinion, or recommendation by Bond Pricing Agency Malaysia Sdn. Bhd. to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services regarding the profitability or suitability of any security or investment. Investors are advised to consult their professional investment advisors before making any investment decision. Materials provided on this document are provided on an "as is" basis, and while care has been taken to ensure the accuracy and reliability of the information provided in this document, Bond Pricing Agency Malaysia Sdn. Bhd. (BPAM) provides no warranties or representations of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties of fitness for a particular purpose, accuracy, correctness, non-infringement, timeliness, completeness, or that the information is always up-to-date. Bond Pricing Agency Malaysia Sdn Bhd (667403-U) 26 March 2018 2