Monday 24, December 2012 by Robin Amlôt

RAM Ratings assigns preliminary AAA rating to UMW’s proposed Sukuk

RAM Ratings has assigned a preliminary AAA long-term rating to UMW Holdings Berhad’s  proposed MYR 2 billion Islamic Medium-Term Notes Programme (2012/2027); the rating has a stable outlook. UMW is an investment-holding company involved in the assembly and distribution of Toyota vehicles, trading of heavy and industrial equipment (e.g. Komatsu, Toyota, Case and Bomag), provision of oil and gas (O&G) services (with drilling and oil-field services as core offerings), manufacture of automotive parts, and distribution of lubricants (Pennzoil and Repsol).

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