MARC has received confirmation that Kimanis Power Sdn Bhd’s
(KPSB) third generating block (GB3) has achieved its commercial operation date
(COD) on November 7, 2014 after successfully completing its third reliability
run. This has addressed concerns the rating agency had which were highlighted
in an update on October 28, 2014 following GB3’s inability to achieve COD after two rounds of reliability runs.
MARC views GB3’s achievement of COD as an important milestone to
enable KPSB’s 285-megawatt combined-cycle gas fired power plant to meet project
metrics going forward. MARC currently rates KPSB’s RM1,160 million Sukuk
Programme at AA-IS with a stable outlook.
Contacts: Ng
Suk Yee, +603-2082 2272/ sukyee@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.
November 11,
2014
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