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RAM Ratings withdraws issue rating of Sasaran Etika Sdn Bhd following early redemption
Published on 05 Jan 2026.
RAM Ratings has received confirmation that Sasaran Etika Sdn Bhd has fully redeemed its outstanding RM220 mil Fixed-Rate Serial Bonds (2012/2027) ahead of the scheduled maturity date of 23 April 2027. Advances from GNCB Capital Sdn Bhd, a wholly owned subsidiary by Nadi Cergas Sdn Bhd, were utilised to support the early redemption. We have accordingly withdrawn the Bond’s AA1/Stable rating (last affirmed on 17 April 2025) and no longer have any rating obligation in respect of the redeemed facility.
Analytical contacts
Lai Jing Wei
(603) 2780 8239
jingwei@ram.com.my
Davinder Kaur Gill
(603) 2780 8220
davinder@ram.com.my
Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@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.
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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