Rating action           MARC Ratings has assigned ratings of MARC-1/MARC-1IS with a stable outlook to Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion.RationaleCagamas’ status as the national mortgage corporation and its strategic role in the domestic financial system, underpinned...

Rating action          MARC Ratings has assigned ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes (MTN) programme and Commercial Papers (CP) programme with a combined aggregate limit of RM1.5 billion. The ratings outlook is stable.RationaleThe assigned ratings factor in the lengthy track record and market position of Pac Lease in the domestic industrial ...

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

Rating actionMARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and concurrently affirmed its A+IS rating on MBSB Bank’s RM5.0 billion Sukuk Wakalah programme. The ratings outlook is stable. RationaleMBSB Bank’s sound capitalisation levels and strong support from its ultimate shareholder Employees Provident Fund (EPF) remain key rating drivers. The r...

Rating action    MARC Ratings has affirmed its financial institution (FI) rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC). Rationale   The affirmed rating reflects CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support provided by the government through Bank ...

Rating action         MARC Ratings has affirmed its financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with stable outlook. Rationale   The ratings affirmation is primarily driven by Kenanga’s strong market position and lengthy experience in the domestic stockbroking industry. Apart from this, the ratings also consi...

Rating actionMARC Ratings has affirmed its investment management rating (IMR) of IMR-2 on Kenanga Investors Berhad (KIB).  RationaleThe rating primarily reflects KIB’s well-established investment processes, sound risk management practices and strong operating track record. These factors are moderated by its relatively small asset size and moderate financial profile.KIB is a wholly-owne...

Rating actionMARC Ratings has affirmed its investment management rating (IMR) of IMR-2 on Kenanga Islamic Investors Berhad (KIIB).  RationaleThe rating reflects KIIB’s well-established investment management process, supported by a prudent risk management framework that is sufficient for its relatively small-sized asset management business. KIIB is a wholly-owned subsidiary of Kena...

Rating action     MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). Concurrently, the rating agency has also affirmed its rating of AAAIS on the developmental financial institution’s (DFI) RM5.0 billion Islamic Medium-Term Notes (IMTN) programme. The outlook on all ratings is stable.Rationale     BPMBâ...

Rating action     MARC Ratings 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 one-notch ratin...