The social media channels of tech billionaires have been silent this week on Trump's climate actions.
PETALING JAYA: Moody’s Ratings is not expecting Khazanah Nasional Bhd to provide additional financial support to its investee companies beyond the RM3.6bil pledged to Malaysia Aviation Group, the parent company of Malaysia Airlines Bhd’s , between 2021 and 2025.
To note, sovereign wealth fund Khazanah has raised US$1bil from a five-year US$500mil sukuk wakalah, or Islamic bond, and a 10-year conventional bond offering last month according to a term sheet reviewed by Reuters. While an upgrade of Khazanah’s A3 rating is unlikely without an upgrade of Malaysia’s sovereign rating, Moody’s noted that Khazanah’s BCA could improve with increased transparency around portfolio assets, including its non-Malaysia-listed investments, sustained liquidity and stronger credit metrics.
The rating agency also said a downgrade of Khazanah’s BCA is likely if the company’s cash needs increase substantially due to higher funding support for its non performing investee companies or increased shareholder returns to the government. Additionally, its role in supporting and implementing the government’s socio economic objectives and its sizable ownership stakes in strategic Malaysian assets across key sectors, justifies its A3 rating.
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