Moody’s: Sarawak’s Baa1 rating under rating

SarawakMoody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds were needed for the infrastructural progress of the Sarawak Corridor of Renewable Energy (SCORE).



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Moody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds...

SarawakMoody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds were needed for the infrastructural progress of the Sarawak Corridor of Renewable Energy (SCORE).



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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