MARC Ratings has assigned a corporate credit rating of AA- to Orkim Sdn Bhd, reflecting its position as Malaysia’s largest domestic vessel owner with 18 tankers and stable earnings from long-term contracts. The company benefits from a strong market position, high barriers to entry, and longstanding relationships with major clients like Petronas and Shell. However, challenges include high leverage from vessel acquisitions and contract renewal risks. Despite this, Orkim’s solid revenue backlog and charter contracts support long-term financial stability.
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