Rating actionMARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB). The ratings outlook is stable.RationaleKAF IB’s low-risk business model, underpinned by a conservative investment strategy, and strong liquidity and capitalisation levels remain key rating drivers. The susceptibility of KAF IB’s performanc...

Malaysian Government Bond Market     Total MGS/GII outstanding grew further to RM962.3 billion at end-June from RM947.3 billion at end-May. Meanwhile, new issuance of GII papers dropped to RM4.5 billion from RM8.0 billion recorded in May. There was no redemption of government bonds for the second consecutive month. In 1H2022, total gross MGS/GII issuance came in higher at RM87....

Rating Action          MARC Ratings has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1/Stable. Concurrently, the rating agency has also affirmed its ratings on CIMB Islamic’s sukuk issuances as follows:RM10.0 billion sukuk senior Sukuk Wakalah programme (Sukuk Wakalah) at AAAIS/StableRM5.0 billion Tier 2 Junior ...

Rating action    MARC Ratings has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1. Concurrently, the rating agency has also affirmed its rating of AA+ on the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. All the ratings have a stable outlook.Rationale   CIMB Bank’s high systemic importance in th...

Rating action    MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. The one-notch rating differential between CIMB Group’...

Rating action     MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pertanian Malaysia Berhad (Agrobank). Concurrently, the rating agency has also affirmed its rating of AAAIS on Agrobank’s Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. Rationale     The FI rating is driven by Agrobank’s status as a wholly g...

Rating action         MARC Ratings has affirmed its AAAIS rating on Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion with a stable outlook.Rationale      The rating affirmation reflects the credit strength of the Malaysian government as the sole obligor of the annual sublease rental payments, and the q...

Rating actionMARC Ratings has affirmed its ratings of AAAIS(cg)/MARC-1IS(cg) on F&N Capital Sdn Bhd’s Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes with a combined limit of up to RM3.0 billion. The ratings outlook is stable. F&N Capital is a wholly-owned funding vehicle of Fraser & Neave Holdings Bhd (F&NHB) which has provided an unconditional an...

Rating actionMARC Ratings has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM) with a stable outlook.RationaleCCBM’s healthy metrics as reflected by high provisioning levels, strong capital ratios, as well as healthy liquidity and funding positions remain key rating drivers. CCBM’s long-term rating of AA+ is ...

Rating actionMARC Ratings has affirmed its MARC-1/AA- ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) Programmes. Concurrently, the ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) Programmes have been affirmed a...