KUALA LUMPUR: RAM Ratings has given the AAA/Stable/P1 ratings to Telekom Malaysia’s (TM) proposed Sukuk Wakalah Programmes with a nominal value of up to RM3bil.
According to RAM, a plus factor in its assessment was the high likelihood of “extraordinary government support” for TM, given the Malaysian Government’s 68.6% share in the group, ownership of a special rights redeemable preference share and 33% representation on the board.
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