04.09.2012 - RAM reaffirms AAA rating of CJ Capital's Sukuk program
CJ Capital was set up as a funding vehicle to raise the Sukuk Murabahah; it is wholly-owned by Cahaya Jauhar. CJSB is a 60:40 joint venture between UEM Land Berhad and the Johor State Government (State Government) via State Secretary Johore (Incorporation) (JSSI). It had been incorporated to undertake the turnkey design-and-build contract for the development of Kota Iskandar in Nusajaya, Johor (the Project). To date, Phase 1 and additional works pertaining to furnishings, landscaping and security have been completed, in return for which CJSB is entitled to receive from JSSI, annuity payments of MYR 15 million per annum for 10 years (the Annuity)................................................Full Article: Source
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