MARC has removed Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) RM1.0 billion Green SRI Sukuk rating from MARCWatch Negative. Concurrently, the rating has been maintained at A+IS with a stable outlook.

The rating action follows the confirmation from Suruhanjaya Tenaga vide letter dated July 15, 2019 that QSP Semenanjung’s solar power plant in Merchang has achieved Commercial Operation Date (COD) on May 31, 2019, prior to the June 30, 2019 walkaway event date. With this development, all three QSP Semenanjung solar power plants are now fully operational; its plants in Gurun and Jasin had achieved COD on December 19, 2018 and April 30, 2019.

The MARCWatch Negative was placed on January 25, 2019 due to concerns that delays of the Jasin and Merchang plants in achieving COD within the prescribed timelines would increase the risk of termination of the power purchase agreements with Tenaga Nasional Berhad. This risk has since abated. MARC will continue to monitor the performance of QSP Semenanjung’s solar power plants.

(For more information on the rating, please see MARC’s report on QSP Semenanjung published on February 4, 2019 at www.marc.com.my.)

Contacts: Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my ; Lim Hui Boon, +603-2717 2959/huiboon@marc.com.my . 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.