Rating action             MARC Ratings has affirmed CIMB Bank Berhad’s financial institution (FI) ratings at AAA/MARC-1 and the bank’s existing RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme rating at AA+. The ratings outlook is stable.Rationale   CIMB Bank’s high systemic importance in the domestic banking industry, we...

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 rating differential between CIMB Group’s lon...

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 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 Sukuk...

Rating action          MARC Ratings has affirmed its financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.RationaleKAF IB’s longstanding track record of sound performance, strong capitalisation and liquidity levels, underpinned by a conservative investment strategy, remain key rating drivers. The susceptibilit...

Rating action          MARC Ratings has affirmed its AAA financial institution (FI) rating on Bank Pertanian Malaysia Berhad (Agrobank). Concurrently, the rating agency has also affirmed its AAAIS rating on Agrobank’s Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. RationaleThe ratings reflect MARC Ratings’ view of a very high proba...

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 rating of A/Stable on Singer (Malaysia) Sdn Bhd’s RM300.0 million Medium-Term Notes (MTN) Programme. The outstanding under the programme as at end-September 2023 stood at RM101.0 million.      RationaleThe affirmed rating reflects Singer’s long and profitable track record in selling and fina...

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...