MARC will assess the impact on its ratings of the financial institutions and programmes under CIMB Group Holdings Berhad from the group’s proposed merger exercise only upon obtaining greater clarity on the details of the exercise. CIMB Group had recently announced its intention to merge with RHB Capital Berhad and Malaysia Building Society Berhad. Among the key details the rating agency will...

MARC has affirmed the long-term and short-term financial institution (FI) ratings of AA-/MARC-1 on Hong Leong Investment Bank Berhad (HLIB). The outlook on the ratings is stable.The FI ratings reflect HLIB's improved standalone business and financial profile as well as its established track record in investment banking and stockbroking operations that have enabled the investment bank to record hea...

MARC has affirmed its MARC-1/AA ratings on non-operating financial holding company Hong Leong Financial Group Berhad's (HLFG) RM1.8 billion Commercial Paper and Medium-Term Notes (CP/MTN) programme with a stable outlook. The affirmed ratings are underpinned by the favourable financial strength and established domestic market position of HLFG’s key subsidiary, commercial bank Hong Leong Bank ...

MARC has withdrawn its ratings of MARC-1/MARC-1ID on Cagamas Berhad’s (Cagamas) Conventional and Islamic Commercial Paper (CP and ICP) programmes of up to RM20 billion. The ratings withdrawal follows the full redemption of the outstanding amount under the CP and ICP programmes and the expiration of the programmes on June 25, 2014 as confirmed by the facility agent. MARC’s analytical co...

MARC has affirmed its AAA financial institution rating on Bank Pembangunan Malaysia Berhad (Bank Pembangunan) and MARC-1ID / MARC-1 programme ratings on the bank’s Islamic and/or Conventional Commercial Papers (CP) Programme of up to RM2.0 billion with a stable outlook.  The ratings reflect the support from the Government of Malaysia to Bank Pembangunan stemming from the bank’s st...

MARC has assigned financial institution ratings of A/MARC-1 to Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently assigned a preliminary rating of AIS on the proposed Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. The rating on Bank Muamalat’s Senior Sukuk issuance is equalised to the bank’s financial institution ...

MARC has assigned preliminary short-term ratings of MARC-1/MARC-1ID to Cagamas Berhad’s (Cagamas) proposed Conventional and Islamic Commercial Paper (CCP/ICP) programmes respectively with an aggregate combined limit of RM20 billion. Concurrently, MARC has affirmed its long-term Conventional and Islamic debt ratings of AAA/AAAID and its short-term conventional and Islamic debt ratings of MARC...

MARC has affirmed its AAA/MARC-1 financial institution (FI) ratings on Maybank Islamic Berhad (Maybank Islamic) and AA+IS rating on Maybank Islamic’s RM1.0 billion Islamic Subordinated Sukuk (Subordinated Sukuk). The rating outlook is stable. The Subordinated Sukuk qualifies as Tier-2 capital and is rated one notch lower than the bank’s FI rating in accordance with MARC’s notchin...

MARC has affirmed Malayan Banking Berhad’s (Maybank) long-term and short-term financial institution ratings of AAA/MARC-1 with a stable outlook. The ratings primarily reflect Maybank’s core commercial banking franchise whose sizeable domestic operations, sound asset quality measures, stable funding structure as well as resilient earnings generation continue to underpin the group’...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The affirmed ratings incorporate Sime Darby group’s well-diversified business profile that ...