State of Sarawak: Regular update

Sarawak, State of: Update to credit analysis - Credit Opinion – 2023/11/29 – US$ 250.00 – ...The credit profile of the State of Sarawak (the State) is underpinned by its substantial cash reserves, which we expect to amount to 140% the state's net direct and indirect debt in 2023 (from 125% in 2022), and provide financial flexibility, and track record of conservative budgetary practices. Sarawak also benefits from a moderate likelihood of support from the Government of Malaysia (the Sovereign, A3 stable) in the event of acute liquidity stress. The elevated oil prices and withdrawal of pandemic-related spending support its financial position, even as we expect development spending to remain high in the coming years....

State of Sarawak (Malaysia): Update following assignment of ESG scores - Credit Opinion – 2022/04/20 – US$ 250.00 – ...The credit profile of the State of Sarawak (A3 stable) is underpinned by its substantial cash reserves, which exceed its sizeable net direct and indirect debt and provide financial flexibility, and track record of conservative budgetary practices. Sarawak also benefits from a moderate likelihood of support from the Government of Malaysia (A3 stable) in the event of acute liquidity stress. The rise in oil prices and certainty over the state's collection of the sales tax on petroleum products support its financial position, even as we expect development spending to remain high in the coming years....

State of Sarawak (Malaysia): Update following outlook change to stable from negative - Credit Opinion – 2021/10/20 – US$ 250.00 – ...The credit profile of the State of Sarawak (A3 stable) is underpinned by its substantial cash reserves, which exceed its sizeable net direct and indirect debt and provide financial flexibility, and track record of conservative budgetary practices. Sarawak also benefits from a moderate likelihood of support from the Government of Malaysia (A3 stable) in the event of acute liquidity stress. The recovery in oil prices and certainty over the state's collection of the sales tax on petroleum products support its financial position, even as we expect development spending to remain high in the coming years....

Moody's changes outlook on Sarawak's rating to stable from negative, affirms A3 rating - Rating Action – 2021/09/24 – US$ 180.00 – ...Rating Action: Moody's changes outlook on Sarawak's rating to stable from negative, affirms A3 rating...

State of Sarawak (Malaysia): Update following outlook change to negative from stable - Credit Opinion – 2020/04/01 – US$ 250.00 – ...The credit profile of the State of Sarawak (A3 negative) reflects the substantial cash reserves built up during periods of strong commodity prices, in line with its longstanding track record of generating strong operating surpluses and conservative budgetary practices. These reserves are a key source of financial flexibility, particularly because they exceed the state's sizable debt burden. Sarawak also benefits from a moderate likelihood of support from the Government of Malaysia (A3 stable) in the event of acute liquidity stress. However, the rapid and widening spread of the coronavirus outbreak, the associated deterioration in the global economic outlook, combined with falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors and regions, including Sarawak....

Moody's changes outlook on Sarawak to negative, affirms A3 rating - Rating Action – 2020/03/27 – US$ 180.00 – 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY'S that you are, or are accessing the document as a representative of, a "wholesale client" and that neither you nor...