MARC has affirmed its rating on Woori Bank’s (Woori Bank) RM1.0 billion Medium Term Notes Programme (MTN) at AAA. The rating is premised on the bank’s strong position in its local South Korean market supported by an extensive customer reach, adequate capitalisation with good quality tier-1 capital, and access to government liquidity support via its holding company, government-owned Kor...

MARC has assigned a financial institution rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). The rating factors in BPMB’s established track record in financing infrastructure and maritime projects, its strong capitalisation, and most importantly, the strong regulatory and government support that it will very likely receive if needed. While MARC considers BPMB’s standalone credit...

MARC has reaffirmed the ratings of AAA and AAAID assigned to The Export-Import Bank of Korea’s (KEXIM) conventional and Islamic Medium Term Notes Programmes with a combined nominal value of RM3.0 billion. The ratings reflect KEXIM’s key role in supporting Korea’s export and import industries, strong standalone financial profile and its full government ownership. The ratings also ...

MARC has affirmed the AAA rating of Oversea-Chinese Banking Corporation Limited’s (OCBC) redeemable subordinated bonds. The rating factors in OCBC’s well-entrenched business presence in Singapore and Malaysia, its sound capitalisation, diversified earnings streams and strong risk management capabilities. MARC also derives comfort from the high level of support afforded to Singapore-bas...

MARC has affirmed the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million Commercial Paper and Medium Term Notes Programme (CP/MTN) (2007 to 2014) and RM300 million CP/MTN (2002 to 2009) at AA-/MARC-1. The affirmed ratings continue to reflect the group’s successful banking and insurance franchises, the consistent and resilient earnings performance of its principal banki...

MARC has assigned a rating of AAIS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed Tier-2 Junior Sukuk Programme. The rating is positioned one notch lower than MARC’s assigned long-term financial institution rating on CIMB Islamic of AA+. The assigned corporate debt rating reflects the subordinated position of the Junior Sukuk relative to the bank’s deposits as well as seni...

MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The outlook on the ratings is stable. The affirmed ratings reflect the consolidated strength of the banking entities of AMMB Holdings Berhad (AHB/AmBank Group) which is underpinned by strong investment and retail banking franchises as well as sound core profitability, asset quality and capita...

MARC has affirmed the ratings of RCE Advance Sdn Bhd’s (RCEA) RM420.0 million Fixed Rate Medium Term Notes programme (Facility) at A+ for RM240.0 million Class A; A for RM120.0 million Class B; and BBB+ for RM60.0 million Class C notes. The ratings carry a stable outlook. The affirmation and stable outlook are premised on the satisfactory performance of the securities’ underlying portf...

MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating continues to reflect CGC’s role as a policy institution in promoting access to financing for small and medium enterprises (SMEs), as well as its majority-ownership by Bank Negara Malaysia (BNM). The rating is also underpinned by the credit guarantee provider’s robust capitalization...

MARC affirms its AAIS rating on MNRB Holdings Berhad’s (MNRB) RM200.0 million Islamic Medium Term Notes (IMTN) Programme with a developing outlook. The affirmed rating of the investment holding company largely reflects the sustainable business profile of its core operating subsidiary, Malaysian Reinsurance Berhad (Malaysian Re) and its adequate, although weakened recent operating performance...