MALAYSIA: RAM Ratings has reaffirmed the respective long- and short-term ratings of Lafarge Malayan Cement’s RM350 million (US$100 million) Al-Murabahah Commercial Papers/Medium-Term Notes (2003/2010) (CP/MTN), at ‘A1’ and ‘P1’. The long-term rating has a stable outlook.
The reaffirmation is based on the group’s resilient financials and strong business profile as the largest integrated cement player in Malaysia, accounting for almost half of the industry’s installed capacity. Leveraging on its France-based parent’s international network for its cement exports, the group is also the biggest cement exporter in the country.