MMHE’s proposed RM1b Sukuk rated AA by MARC

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) proposed RM1bil Sukuk Murabahah Programme has been assigned a preliminary rating of AA-IS with a stable outlook by Malaysian Rating Corp Bhd (MARC). 

The ratings agency said on Tuesday MMHE is involved in offshore and marine services, in particular engineering and construction, vessel conversion and repair services for the oil and gas sector. The proceeds from the Sukuk issuance will be utilised mainly to upgrade the yard facilities under its yard optimisation programme.