The ratings assigned to RCE Advance Sdn Bhd’s (RCEA) (formerly known as Perfect Aspirations Sdn Bhd) proposed RM420.0 million Fixed Rate Medium Term Notes programme (referred to as the Facility) is a reflection of the three month collateral ratio to be maintained at all times whereby the uncollected value of the receivables purchased by RCEA shall be at1.66 times ofthe principal outstandi...

MARC has affirmed Bumiputra-Commerce Bank Berhad’s (BCB or the bank) Financial Institution ratings at AA-/MARC-1 and its detachable coupons of RM667.0 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A+. The ratings reflect the bank’s efforts at improving asset quality, its stable liquidity position and wide funding base.Deemed the second largest...

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 the Company 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 a proactive and innovative manag...

Pembangunan Leasing Corporation’s (PLC) Guaranteed Notes Issuance Programme (GNIP) rating is reaffirmed to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB). BPIMB’s A-rating from MARC which is higher than PLC’s stand-alone corporate debt rating, reflects its strategic importance in the s...

Shamelin Bina Sdn Bhd’s (“SBSB”) rating has been affirmed at A- 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 ...

The rating reaffirmation reflects the financial strength of the life and general insurance funds 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 di...

MARC has affirmed the short-term rating at MARC-2 and concurrently upgraded the long-term rating from A- to A in respect of Hong Leong Credit’s (HLC) commercial papers and medium term notes programme respectively. 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 banki...

MARC has upgraded AmMerchant’s financial institution rating to A+ and reaffirmed its short term rating at MARC-1 based on the Bank’s consistent strong market position in fee-based activities; significant improvement in the Bank’s asset quality; further improvements in its funding profile and capitalization; and expected improvement in the profile of the Bank with its impending ...

Bumiputra-Commerce Bank Berhad’s (BCB) Financial Institution rating has been upgraded to AA-/MARC-1 and its detachable coupons of the RM667 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating to A+. The upgrades reflect the consistent improvement in the last several years, in the bank’s financial standing and overall asset quality. These improvements ...

The ratings assigned to RCE Premier Sdn Bhd’s (RCEP) proposed Bonds and CP programme (referred to as the Facilities) reflect the 1.3 times security cover of receivables purchased by RCEP to be maintained at all times; protective issue structure; provision for substitution of defaulted receivables with performing receivables by RCE Marketing Sdn Bhd (RCEM); adequate cashflow protection dur...