- News
- Market Watch
- Bursa Malaysia
- My Portfolio
- Exchange Rates
- Unit Trusts
- Market Intelligence
- IPO Watch
- Company Ratings
- Bonus & Dividends
- Financial Results
- Share Buybacks
- Changes in Shareholdings
- Currency Converter
- Investor Relations
- Maritime
-
Published: Tuesday October 2, 2012 MYT 11:43:00 AM
RAM Ratings assigns AA2 rating to Bahrain Mumtalakat's RM3b Sukuk
KUALA LUMPUR: RAM Rating Services has assigned an AA2 long-term rating to Bahrain Mumtalakat Holding Company BSC's RM3bil Sukuk Murabahah Programme (2012/2032), with a stable outlook.
RAM Ratings said Mumtalakat is the investment arm of the Kingdom of Bahrain for strategic non-oil-and-gas commercial assets.
The objective is to transform Bahrain's oil-based economy into one based on manufacturing and services. Its portfolio contains some of Bahrain's largest companies, in key sectors ranging from aluminium smelting to financial services and telecommunications.
According to the rating agency, Mumtalakat enjoys very strong support from its government. Although Mumtalakat's unit Gulf Air Company BSC is not operationally profitable, state financial support is channelled to Bahrain's national airline via the company.
"In essence, the AA2 rating reflects Mumtalakat's crucial role in the Bahraini government's economic agenda, which underscores the close rapport between them," said RAM Ratings.
- Ahmad Zahid: Government will take action on foreigners who abuse student visas
- Adam Adli claims trial to sedition charge
- Tian Chua, Haris Ibrahim detained
- Tabung Haji top-level official denies khalwat
- Justice Akhtar: Intention to finish off Sosilawati, others at wrong place wrong time
- Verdict ends three years of restlessness for family, says Sosilawati's daughter
- Adam Adli charged with uttering seditious words (Update)
- All four accused guilty in murder of Sosilawati Lawiya and three others (Update)
- New crime prevention department to be set up
- Syariah Court can annul child’s marriage, says SIS
- A-G: Prosecution to proceed with statutory rape charges against Riduan
- Women’s groups laud A-G’s promise to press statutory rape charges against Riduan
- Probe into why teen withdrew rape report
- What comes after WYY?
- Prime Minister to address global women conference
- MISC posts RM300m net profit in Q1, sees challenging year ahead
- KL Kepong slips to low of RM21.36 as quarterly profit drops
- Maybank's Q1 earnings up 11.8% to RM1.506b
- Lafarge Cement positive on markets, mulls expanding capacity
- Dayang Enterprise awards RM705m contract to Perdana Petroleum
- KLCI pauses, Japan, Hong Kong key indices slide (Update)
- ECM Libra plans to exit PN17 by year-end
- China HSBC flash PMI hits 7-mth low, fans growth fears
- RHB Research maintains Buy on KPJ Healthcare, FV RM7.30
- Alliance Neutral on Axiata, ups target price to RM7
- Deleum top loser, down 11.3% after disappointing results
- Maybank KE Research maintains Hold on AirAsia
- Public Invest Research ups Uzma target price to RM2.86
- Malaysia's blue chips fall more than 6pts in early trade
- Profit taking may weigh on Malaysian equities
- Ice queen Nicol into British Open quarters
- Australia to consider following ban on anchor putters
- Intxausti wins 16th stage, Nibali still keeps pink jersey
- Indonesia drawn to meet China again – in knockout stage
- Results worldwide
- Malacca sprinter Mohd Azam Masri out to create history by winning five events in MSSM meet
- Athletics runs in the veins of Vallabouy family
- Chinese long jumper Jinzhe claims another Olympic scalp
- Dane Jorgensen’s wish is to avoid Chinese ace Lin Dan in World Championships
- National badminton team’s lack of depth a glaring factor in home tourney
- Khim Wah-V Shem perform above expectations in Sudirman Cup debut
- Jindapon aims to qualify for 2016 Olympics
- Kenichi’s goal is to take Japan into Sudirman Cup semi-finals
- Dong-keun shows he’s a capable replacement
- Harrison makes swift U-turn
- Aeon director: GST won’t affect group
- Malaysia's blue chips fall more than 6pts in early trade
- Petronas Chemicals Group to invest RM3bil in capital expenditure
- Report: AirAsia X sets indicative price for IPO
- Profit taking may weigh on Malaysian equities
- Lower net profit for AirAsia
- BToto buys RM20m REDtone shares
- Weak CPO prices hit Boustead profit
- No plans for MBO, says Vincent Lee
- Cahaya Mata Sarawak to invest in grinding plant
- Asean flavour in Invest M’sia confab
- Report: AirAsia X sets indicative price for IPO
- Petronas Chemicals Group to invest RM3bil in capital expenditure
- ECM Libra plans to exit PN17 by year-end
- Lower net profit for AirAsia
- BToto buys RM20m REDtone shares
- MISC posts RM300m net profit in Q1, sees challenging year ahead
- KL Kepong slips to low of RM21.36 as quarterly profit drops
- Maybank's Q1 earnings up 11.8% to RM1.506b
- Lafarge Cement positive on markets, mulls expanding capacity
RSS
