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2021 | Quarter 3

PTP is Best Local Currency Infrastructure Sukuk 2020

Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) maiden rated sukuk programme was awarded with the “Best Local Currency Infrastructure Sukuk 2020 for its RM1.895 billion Sukuk Murabahah (Tranche 1 & 2) Islamic Medium-Term-Notes (IMTN) (Sukuk Programme)” during the Alpha Southeast Asia 14th Deals & Solutions Awards.


The 14th Deals & Solutions Awards is an annual award organised by Alpha Southeast Asia, the first and only institutional investment magazine focused on Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). This year, a record number of submissions were received from banks across the region and a fair, robust and informative methodology was used to appoint the winner.


In 2020, despite the COVID-19 pandemic and economic uncertainties, PTP has successfully raised RM1.895 billion through a Sukuk Programme to refinance its RM1.5 billion Islamic medium-term notes programme and other term loan which was taken to fund the port’s capacity expansion. The Sukuk Programme was assigned a rating of AA-IS with a stable outlook by Malaysian Rating Corporation Berhad (MARC). The issuance was made in two tranches in June and August 2020.


The main contributing factors towards PTP’s winning this award are due to its strong credit profile and heightened proactive investor engagement during marketing period (despite challenges posed by the Movement Control Order), which resulted in the total order book of more than RM7.6 billion for both tranches during book building. Tranche 2 issuance in particular, recorded profit rates equivalent to AA rated issuance (one notch higher than PTP’s assigned rating) and repriced the AA- credit curve.


Moving forward, PTP will further enhance its operational capabilities and business strategy to deliver best possible value to its customers and stakeholders amidst the current challenging business environment due to global recession and COVID-19 pandemic. As a leading port and logistics operator, PTP’s positive track record in delivering world class service to its customers is well recognised and documented within the Group, locally and internationally.

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