MARC has affirmed its long-term and short-term financial institution (FI) ratings of AA- and MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook.The ratings are mainly driven by KAF IB’s low-risk business model and its strong liquidity and capitalisation levels that are underpinned by a conservative investment strategy. Moderating the rating is the susceptibility of bank’s perf...

MARC has affirmed its ratings on national mortgage corporation Cagamas Berhad’s bonds and sukuk issues as follows: • Conventional and Islamic Commercial Papers (CP/ICP) programmes        with a combined aggregate limit of RM20.0 billion at         MARC-1 / MARC-1IS; and• Conventional and Islamic Medium-Term Notes (MTN/IMTN)     ...

MARC has affirmed its financial institution (FI) ratings of AAA/MARC-1 on Islamic Development Bank (IsDB), as well as its rating of AAAIS on the Sukuk Wakalah programme of up to RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The outlook on the ratings is stable.The affirmed FI ratings reflect IsDB’s preferred creditor status as a multilateral development bank (MDB)...

MARC has affirmed its long- and short-term financial institution (FI) ratings of AA+/MARC-1 on China Construction Bank (Malaysia) Berhad (CCBM). The long-term rating of CCBM is notched down from its parent China Construction Bank Corporation’s (CCB) public information rating of AAA from MARC. The outlook on all ratings is stable. CCB’s rating reflects its majority-owned status by the Chinese g...

MARC has affirmed the 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 ratings outlook is stable. The FI rating on KEXIM is equalised to the Republic of Korea’s (South Korea) AAA/stable rating from MARC, refl...

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

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 m...

MARC has affirmed the investment manager rating of IMR-2 on Kenanga Investors Berhad (KIB). The rating is premised on 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.KIB is a wholly owned fund management subsidiary of Kenanga Investmen...

 MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and AIS rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The rating on Bank Muamalat’s Senior Sukuk programme is equalised to its long-term FI ratings based on the seniority of the sukuk. The ratings outlook is stable.The FI ratin...

MARC has affirmed its long-term and short-term financial institution (FI) ratings of A+ and MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with a stable outlook.The affirmed ratings are primarily premised on Kenanga’s strong competitive position in the retail stockbroking business in Malaysia, its healthy capital position, its moderate profitability metrics and adequate funding pr...