The rating of Shamelin Bina Sdn Bhd’s (“SBSB”) RM100 Million Murabahah Medium-Term Note Issuance Facility (MMTN) has been reaffirmed at A-ID. The reaffirmed rating principally reflects the financial and credit profile of SBSB’s consumer co-operative parent, Koperasi Shamelin Berhad (KSB), and the notes’ protective issue structure, offset by the cyclical nature of th...

AmMerchant Bank Berhad’s (AmMerchant) financial institution ratings has been upgraded to AA-/MARC-1 premised on the Bank’s improvement in asset quality, consistent strong market position in fee-based activities; and funding profile. Reflected in the rating is the Bank’s experienced management team and effective risk management systems. The outlook is stable.The Bank is a leadin...

MARC has reaffirmed the long-term and short-term issuer ratings of Cagamas Bhd (Cagamas) at AAA and MARC-1 respectively. The reaffirmation reflects the strong ability and flexibility of Cagamas to meet its financial commitments, supported by a favourable portfolio of loans and debts with full recourse to the selling institutions, its strong capitalization and capable management team. As the countr...

Pembangunan Leasing Corporation Sdn Bhd’s (PLC) Guaranteed Notes Issuance Programme (GNIP) rating is upgraded from MARC-1(bg)/A(bg) to MARC-1(bg)/A+(bg) to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad or BPMB (formerly known as Bank Pembangunan & Infrastruktur Malaysia Berhad). BPMB’s A+ rating from MARC reflects...

MARC has upgraded the short-term rating to MARC-1 and the long-term rating to A+ in respect of Hong Leong Credit’s (HLC) commercial papers and medium term notes programme. This reflects the improved fundamentals of HLC’s key subsidiaries as well as the improved capital structure of the company. The rating is moderated by the competitive financial services environment and the potentia...

The corporate debt rating of Bumiputra-Commerce Holdings Berhad (BCHB), formerly known as Commerce Asset-Holding Berhad, has been reaffirmed at A+ following the combination of CIMB and Bumiputra-Commerce Bank (BCB). BCHB is the ultimate parent of the combined entity. Concurrently, MARC has upgraded the Financial Institution Rating of BCB from AA-/MARC-1 to AA/MARC-1. MARC has also upgraded th...

Shamelin Bina Sdn Bhd’s (“SBSB”) rating has been reaffirmed at A-ID which reflects, Koperasi Shamelin Berhad’s (KSB) satisfactory asset quality arising from the collection arrangement with ANGKASA (Angkatan Koperasi Kebangsaan Malaysia Berhad); low level of job transfers and resignations in the public sector; positive cashflow generating capacity throughout the tenure of ...

The affirmation of RCE Premier Sdn Bhd’s (RCEP) proposed Bonds and CP programme (referred to as the Facilities) is premised on the overcollateralisation (OC) ratio of 1.3 times over the identified eligible receivables (IER) purchased by RCEP maintained at all times; provision for substitution of defaulted IER and/or early settlement with performing IER by RCE Marketing Sdn Bhd (RCEM); adeq...

The rating reaffirmation reflects the overall financial strength of its main subsidiary Malaysian Assurance Alliance Berhad (MAA) and the support provided by the Revolving Credit (RC) Facility to meet coupon and principal payments in the event of a shortfall. Consistent with previous years, MAA Holdings Berhad (MAAH) continues to derive most of its income from dividends upstreamed by MAA. MAA ...

AmMerchant Bank Berhad’s (AmMerchant) financial institution ratings has been affirmed at A+/MARC-1 premised on the Bank’s consistent strong market position in fee-based activities; improvement in the Bank’s asset quality, funding profile and capitalization. Furthermore, the successful listing of the investment banking arm on Bursa Malaysia is expected to increase the profile of...