PETALING JAYA: Prasarana Malaysia Bhd’s balance sheet is “very weak” due to its heavy debt burden, which is expected to escalate to over RM20bil following the issuance of its sukuk programme, said RAM Ratings.
It said Prasarana’s debt level had been rising over the last five years and hit RM18.36bil as of December 2015 on additional borrowings to meet its capital expenditure and working-capital requirements, from RM13.91bil in December 2014.
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