Find A Rating 
PRESS RELEASES
RAM Ratings withdraws Bumitama’s sukuk rating
Published on 28 Jul 2026.
RAM Ratings has, at the issuer’s request, withdrawn the AA2/Stable rating of Bumitama Agri Ltd’s RM2.0 bil Islamic MTN Sukuk Musharakah (2014/2029) upon the full redemption of the RM400 mil outstanding sukuk maturity date of 22 July 2026 and subsequent early cancellation of the programme on 24 July 2026, as confirmed by the facility agent. The programme was originally scheduled to mature on 16 March 2029.
Consequently, RAM no longer has any rating obligation in respect of the sukuk programme. The AA2/Stable rating was last published on 2 January 2026 (click here).
Analytical contact
Chew Wei Li
(603) 2708 8301
weili@ram.com.my
Karin Koh, CFA
(603) 2708 8237
karin@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
© Copyright 2026 by RAM Rating Services Berhad
