KUALA LUMPUR: MARC Ratings has affirmed its AA-IS rating on Orkim Bhd’s Islamic medium-term notes (IMTN) programme of up to RM1 billion and revised the outlook to positive from stable.

This outlook revision reflects confidence in the company’s solid fundamentals, its leadership position in marine transportation, specifically, in the domestic clean petroleum product (CPP) transportation market, and the company’s growth trajectory, Orkim said in a statement today.

According to MARC, the revised outlook is premised on Orkim’s proposed shareholders’ restructuring which will result in Permodalan Nasional Bhd (PNB) and its managed unit trust funds holding a majority stake in Orkim.

For more details, visit the full article here.