MARC has affirmed its AAA financial institution rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating on the government-related entity, incorporates systemic support uplift from the institution’s standalone credit strength based on CGC’s public policy role to facilitate access to financing for small and medium enterprises (SME); and it...

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 ratings reflect CGIF’s strong capital position and claims-paying resources relative to its risk exposure, underpinned by its sound leverage policy and governance...

MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 on The Bank of East Asia, Limited (BEA). The outlook on the ratings is stable. The affirmed rating reflects the bank’s capacity to meet its financial obligations on the Malaysian national rating scale. Hong Kong-based BEA has a well-established banking franchise, characterised by sound asset qualit...

MARC has affirmed A+, A and BBB+ ratings on RCE Advance Sdn Bhd’s (RCEA) outstanding Class A, Class B and Class C notes of RM45 million, RM35 million and RM60 million respectively under its RM420 million Fixed Rated Medium Term Notes (MTN) Programme. The outlook on the ratings is revised to negative from stable. RCEA acquired six collateral pools consisting of identified eligible receivable...

MARC has affirmed the long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The outlook on the ratings is stable. The affirmed ratings reflect KAF Investment’s strong capital adequacy position and healthy liquidity levels, underpinned by a conservative investment strategy. The ratings are moderated by the investment bank’s...

 MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 and concurrently affirmed the FI ratings of AAA/MARC-1 on its parent bank, Kuwait Finance House K.S C. (KFH) based on public information. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from that of its parent bank, ...

MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed IFS rating is premised on the status of Danajamin as a government-sponsored and -owned financial guarantee insurer (FGI) and the perceived high government support owing to the FGI’s role in the domestic sukuk and bond markets. The IFS rating also incorpo...

MARC has assigned a final rating of AIS to Bank Muamalat Malaysia Berhad’s (Bank Muamalat) Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion under the Islamic principle of Wakalah Bi Al-Istithmar with a stable outlook. Upon review of the final documentation of the Senior Sukuk, MARC is satisfied that the terms and conditions of the Senior Sukuk have not changed in any mate...

MARC has assigned a preliminary rating of AA+IS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed RM5.0 billion Basel III-compliant Tier 2 Junior Sukuk (Proposed Junior Sukuk) programme. The bank’s financial institution (FI) ratings and corporate debt rating on its existing RM2.0 billion Tier 2 Junior Sukuk (Junior Sukuk) programme were affirmed at AAA/MARC-1 and AA+IS respectively...

MARC has affirmed the long-term and short-term financial institution (FI) ratings on CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1 and the ratings of all corporate debt issuances by the bank; the full list of these issuances is given at the end of this section. CIMB Bank’s existing subordinated debt and hybrid securities are notched down from the bank’s FI rating in accordance with MARC&r...