KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) has affirmed AA-IS rating on Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) RM3.64 billion Sukuk Wakalah, with a stable outlook. MARC affirmed the its ratings based on factors that DUKE 3 is making sufficient progress on the construction. In addition, the agency said the adequately structured sukuk repayment profile has accommodated the traffic ramp-up of the DUKE Phase 3 expressway. DUKE 3, a wholly-owned subsidiary of Ekovest Bhd (Ekovest), is the concessionaire of the 32.1km DUKE Phase 3 expressway in Kuala Lumpur under an agreement with the government ending August 5, 2069. The overall progress of the DUKE Phase 3 expressway stood at 3.32 per cent as at end-June 2017, against scheduled progress of 7.00 per cent.

Source: New Strait Times August 24, 2017 03:22 UTC