Rating action          MARC Ratings has assigned a preliminary rating of MARC-1 to Merchantrade Asia Sdn Bhd’s (Merchantrade) proposed Multi-Currency Commercial Papers (CP) Programme of up to RM200 million in nominal value. The rating is confined to ringgit-denominated issuances under the proposed programme. RationaleThe assigned rating incorporates Merchantrad...

Rating action          MARC 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.RationaleThe long-term FI rating of AA+ is notched down from the AAA FI rating of its parent, China Construction Bank Corporation (CCB), accorded based on publicly available...

Rating action            MARC Ratings has affirmed its financial institution rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC).       RationaleThe affirmed rating considers the government’s 78.6% ownership of CGC through Bank Negara Malaysia (BNM), as well as the development financial institution’s (...

Rating action         MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad as well as it’s A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. The ratings outlook is stable.        Rationale      The ratings affirmation reflects MBSB Bank’s sound capitalisati...

Rating action          MARC Ratings has affirmed its rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). RationaleThe rating cons...

Rating action          MARC Ratings has affirmed its ratings of AA/MARC-1/Stable on Pac Lease Berhad’s Medium-Term Notes (MTN) Programme and Commercial Papers (CP) Programme with a combined limit of RM1.5 billion.RationaleThe ratings continue to reflect the company’s long track record, strong market position in the domestic industrial hire purchase (HP) industry, ...

Rating action           MARC Ratings has affirmed its investment manager rating (IMR) of IMR-2 on Kenanga Islamic Investors Berhad (KIIB). Rationale        The rating reflects KIIB’s well-established investment management process, supported by a prudent risk management framework that is sufficient for its relatively small size. KII...

Rating action           MARC Ratings has affirmed its investment manager rating of IMR-2 on Kenanga Investors Berhad (KIB).      Rationale     The rating primarily reflects KIB’s well-established investment management process, sound risk management practices and strong operating track record. These attributes are tempered by its re...

Rating action           MARC Ratings has affirmed its financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with a stable outlook.      Rationale      The ratings reflect Kenanga’s strong market position and lengthy experience in the domestic stockbroking industry. The ratings further consider ...

Rating action          MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). The rating agency has concurrently affirmed its AAAIS rating on BPMB’s RM5.0 billion Islamic Medium-Term Notes (IMTN) Programme. The outlook on both ratings is stable. RationaleThe affirmed ratings continue to incorporate MAR...