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Press Release
10 Feb | Tuesday
No formal resolution on Musteq’s late payment

RAM Ratings understands that the holders of Musteq Hydro Sdn Bhd’s (Musteq or the Company) RM80 million Bank-Guaranteed Sukuk Musharakah (2012/2022) had not requested a formal resolution on a late principal payment made by the Company last month. Musteq had settled a principal payment due on 26 January 2015 a day later.

The next payment milestone on 26 July 2015 will be another gauge of the Company’s liquidity, which we will continue to monitor closely. Musteq’s AAA(bg)/Stable issue rating reflects an unconditional and irrevocable bank guarantee provided by Maybank Islamic Berhad (rated AAA/Stable/P1 by RAM).

Media contact:
Yong Jia Zheng
(603) 7628 1055
jiazheng@ram.com.my

source: RAM Rating Services Berhad
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