MARC has affirmed its 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 wholly-owned by Kenanga Investors Berhad (KIB), a domestically well-established fund ...

MARC has affirmed the investment manager rating of IMR-2 on Kenanga Investors Berhad (KIB). The IMR rating considers KIB’s well-established investment management processes, strong risk management practices and operating track record. These factors are moderated by its relatively small asset size and moderate financial profile. Wholly owned by Kenanga Investment Bank Berhad (Kenanga), KIB s...

MARC has affirmed its 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. The FI and issue ratings are based on the domestic rating scale. The outlook on the ratings is stable. The FI rating on KEXIM is equalised to the Republic of Korea’s (South Korea) AAA/stable rating from MA...

MARC has affirmed its long-term and short-term counterparty credit ratings of AAA/MARC-1 on Credit Guarantee and Investment Facility (CGIF) with a stable outlook. The ratings are based on Malaysia’s national rating scale. The affirmed ratings reflect CGIF’s strong capital and liquidity position which are underpinned by sound policy guidelines and governance structure established by the ...

MARC has affirmed its AAA financial institution (FI) rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating reflects CGC’s public policy role as a development financial institution (DFI) for which the government through Bank Negara Malaysia (BNM) has continued to provide support. In its role, CGC provides credit guarantees on loans and financing exte...

MARC has affirmed its AAA financial institution (FI) rating on Bank Pembangunan Malaysia Berhad (Bank Pembangunan). The rating carries a stable outlook. The FI rating is solely premised on Bank Pembangunan’s status as a wholly government-owned development financial institution (DFI) which was incorporated to extend loans and financial support to specific industries promoted by the governme...

MARC has affirmed its financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA / MARC-1 with a stable outlook. Concurrently, MARC has also affirmed its corporate debt ratings on CIMB Bank’s existing subordinated debt and hybrid securities, which have been notched down from the bank’s FI ratings based on their relative loss severity risk profiles. The full list of issue rating...

MARC has affirmed its financial institution (FI) ratings of AAA/MARC-1 on CIMB Islamic Bank Berhad (CIMB Islamic). The FI ratings on CIMB Islamic are equalised to that of its parent CIMB Bank Berhad (CIMB Bank) (rated AAA/Stable), given the bank’s strategic importance as the latter’s Islamic banking arm, their shared branding and close operational integration. Concurrently, MARC has also affi...

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 outlook on the ratings is stable. The one-notch rating differential between CIMB Group’s long-term corporate credit rating and its sub-debt programme...

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 Malaysia’s national rating scale. KFH Malaysia’s long-term FI rating has been notched down from its parent Kuwait Finance House KSC’s (KFH) long-term FI rating of AAA, premised on MARC’s ...