Malaysian Rating Corporation Berhad (MARC) was announced winner of Malaysia’s 2016 Project Finance Rating Agency of the Year at The Asset’s Triple A Rating Agency of the Year Awards ceremony held in Hong Kong on February 28, 2017. The Asset, a Hong Kong-based magazine covering Asia’s financial industry, annually recognises the region’s significant capital market intermediaries and transactions. This marks the second year in a row that MARC has earned this industry distinction.
“We are honoured that The Asset has recognised MARC for the second year in a row as a key player in rating project finance transactions,” said Rajaseharan Paramesran, MARC’s Chief Rating Officer who was at the event to receive the award. “This accolade serves as a valuable endorsement of our ratings as benchmarks for assessing the credit quality of project financings. It also signifies that our commitment to remain a valued capital market intermediary has been acknowledged.”
The Malaysian debt capital markets represent an important source of infrastructure financing and remain pivotal to the country’s economic growth and development. Among the noteworthy project financings rated by MARC in recent years are Lebuhraya Duke Fasa 3’s RM3.64 billion sukuk in 2016, Jimah East Power’s RM10.0 billion sukuk in 2015, Malakoff Power’s combined RM11.3 billion sukuk issuances in 2013, Tenaga Nasional independent power units’ combined RM5.63 billion sukuk issuances in 2013 and the landmark PLUS’ RM23.35 billion sukuk in 2012.
David Lee, MARC’s Head of Project and Structured Finance Ratings, who also attended the event said, “Our commitment to contribute to vibrant capital market project financing extends not only to identifying new and changing risks, but also to engage in early constructive and open discussions on managing uncertainty and risk in greenfield project financings with the relevant stakeholders.”
MARC is committed to provide active thought leadership in project financing, as evidenced by its recently published methodology for the rating of solar power project sukuk/bonds.
Contacts:
Ahmad Feizal Sulaiman Khan, +603-2082 2211/ feizal@marc.com.my;
Lana Mahbob, +603-2082 2212/ lana@marc.com.my.
