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Errata: Amendments in Jati Cakerawala’s rating rationale

Published on 08 Jan 2020.

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RAM Ratings has made some amendments to the information on Jati Cakerawala Sdn Bhd’s liquidity position on Page 7 of its rating rationale. The amended rating rationale, republished on our website, supersedes the one released on 19 December 2019, with respect to the paragraph below:

Adequate liquidity. Although purely an investment-holding company, Jati exhibits adequate liquidity amid TTPC’s strong operational performance and cash-generating ability. TTPC’s pre-financing cashflow is projected to come up to RM225 mil in fiscal 2020, when the Company is envisaged to receive up to RM165 mil of distributions from TTPC. This sum, coupled with Jati’s RM35.18 mil of cash and cash equivalents as at end-September 2019, is anticipated to cover the RM74 mil of profit and principal repayments on Jati’s Sukuk in fiscal 2020.”

 

Analytical contact
Irfan Afifah Mohd Zaki
(603) 3385 2551
irfan@ram.com.my

Media contact
Padthma Subbiah
(603) 3385 2577
padthma@ram.com.my

 

The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.

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Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

Published by RAM Rating Services Berhad
© Copyright 2019 by RAM Rating Services Berhad



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