RAM Ratings withdraws rating of Telekom’s RM3 bil Islamic CP Programme

Published on 18 Dec 2020.

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RAM Ratings has withdrawn the P1 rating of Telekom Malaysia Berhad’s (TM) RM3 bil Islamic Commercial Papers Programme (2013/2020), following its maturity and full redemption on 18 December 2020. As such, RAM no longer has any rating obligation in respect of the said facility.   

Meanwhile, RAM will maintain surveillance on TM’s sukuk, as tabulated below.



RM2 bil Islamic Medium-Term Notes Programme (2011/2026)


RM3 bil Islamic Medium-Term Notes Programme (2013/2033)


RM4 bil Islamic Medium-Term Notes Programme (2018/2048) and Islamic Commercial Papers (2018/2025)



Analytical contact
Davinder Kaur Gill
(603) 3385 2525

Media contact
Padthma Subbiah
(603) 3385 2577


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.

RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.

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

Published by RAM Rating Services Berhad
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Ratings on Telekom Malaysia Berhad