Rating Action     MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings of AAA/MARC-1. The ratings outlook is stable. Concurrently, the rating agency has also affirmed the ratings on CIMB Islamic’s sukuk issuances as follows:RM10.0 billion senior Sukuk Wakalah programme (Sukuk Wakalah) at AAAIS/stableRM5.0 billion Tier 2 Junior Sukuk prog...

Rating action     MARC 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’s long-term corporate credit rating an...

Rating action     MARC has affirmed its insurer financial strength (IFS) rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency has affirmed its ratings of AAAIS and AA+IS on the Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under its Sukuk Murabahah programme. The ratings outlook is stab...

Rating action     MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 with a stable outlook. The FI ratings are based on the national rating scale.Rationale     The long-term FI rating of KFH Malaysia is notched down from its parent Kuwait Finance House KSC’s (KFH) FI r...

Rating action     MARC has affirmed its long-term and short-term financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.Rationale     The ratings primarily reflect KAF IB’s low-risk business model and strong liquidity and capitalisation levels, underpinned by a conservative investment strategy. The ratings are m...

Rating action     MARC has assigned final ratings of AAAIS / MARC-1IS on Small Medium Enterprise Development Bank Malaysia Berhad’s (SME Bank) Islamic Medium-Term Notes (IMTNs) Programme of up to RM3.0 billion (which shall include Sustainability IMTNs) and Islamic Commercial Papers (ICPs) Programme of up to RM1.0 billion with a combined limit in nominal value of up to RM3.0 b...

Rating action     MARC has affirmed its ratings on national mortgage corporation Cagamas Berhad’s bonds and sukuk issuances as follows:Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billion at MARC-1/MARC-1ISConventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 billion at AAA/AAAISRationale  ...

Rating action     MARC has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM). The ratings outlook is stable.Rationale     The affirmed FI ratings on CCBM incorporate the bank’s healthy metrics as reflected by improving profitability, continued high provisioning level with very stron...

Rating action     MARC has affirmed the financial institution (FI) rating of AAA on The Export-Import Bank of Korea (KEXIM) and the issue rating of AAA on its Medium-Term Notes programme of RM1.0 billion which is due to mature in February 2022. The FI and issue ratings are based on the domestic rating scale. The outlook on the ratings is stable.Rationale     The FI ra...

MARC has affirmed the investment manager rating of IMR-2 on Kenanga Islamic Investors Berhad (KIIB). The rating reflects KIIB’s established investment management process, underpinned by a prudent risk management framework that is sufficient for its relatively small-sized asset management business. KIIB is a wholly-owned subsidiary of Kenanga Investors Berhad (KIB), the fund management arm o...