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MARC has affirmed its financial institution rating of AAA on The Bank of East Asia, Limited (BEA). The rating is based on MARC's assessment of the bank's capacity to meet its financial obligations on the Malaysian national rating scale. The outlook on the rating is stable. BEA’s rating is underpinned by its long-established banking franchise in Hong Kong and mainland China, its strong asset ...
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MARC has downgraded its rating on MNRB Holdings Berhad’s (MNRB) RM200 million Islamic Medium-Term Notes (IMTNs) to A+IS from AA-IS. The outlook is stable. The rating action reflects weakened holding company level financial metrics following two consecutive years of losses for the financial years ending March 31, 2010 (FY2010) and FY2011, and thin cash flow coverage measures. The lowered rati...
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MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed rating reflects Danajamin’s strong capital resources and claims-paying resources relative to its risk exposure, and its status as a government-sponsored financial guarantee insurer (FGI). The IFS rating is driven by MARC’s perception of high support fro...
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MARC has affirmed its AA-/MARC-1 financial institution ratings on AmInvestment Bank Berhad (AmInvestment). The rating outlook has been revised to stable from positive. MARC's ratings on the bank continue to reflect the consolidated credit profile of AmInvestment and its sister bank, AmBank (M) Berhad (AmBank), on account of AMMB Holdings Berhad's (AmBank Group) integrated universal banking strateg...
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MARC has affirmed its long- and short-term financial institutions ratings of CIMB Bank Berhad (CIMB Bank) at AAA/MARC-1, reflecting the bank’s established franchise in Malaysia and strong credit profile, which is well supported by sound capital and liquidity management and resilient earnings streams. The rating also reflects MARC’s expectation of high regulatory support on the basis of...
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MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) long-term financial institution rating at AAA and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme at AA+IS. The outlook on the long-term rating is stable. CIMB Islamic’s financial institution rating is equated to parent CIMB Bank Berhad’s (CIMB Bank), on account of the high level of...
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MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution ratings of AA+/MARC-1, following the rating agency's affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. (KFH) at AAA/MARC-1. The outlook on the ratings of both institutions has been revised to stable from negative.The lo...
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MARC has affirmed its issue rating of AAA on Oversea-Chinese Banking Corporation Limited's (OCBC) redeemable subordinated bond of up to RM2.5 billion with a stable outlook. The affirmed issue rating reflects the franchise strength of the financial services group, its relatively good earnings stability, and very strong regulatory capitalisation. MARC further notes that the continued deepening of OC...
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MARC has affirmed its long-term and short-term financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF Investment). The affirmed ratings are underpinned by the bank’s commendable earnings performance, prudent risk management and well- positioned franchise in fixed income securities trading. The outlook on the ratings is stable.KAF Investment is one of the largest inves...
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MARC has completed its review of ABS Samudera Receivables Berhad's (ASRB) rating on its Series A notes issued under its RM250.0 Medium Term Notes Programme and downgraded the rating to AA+ from AAA. The outlook is negative. The rating review had focused on a reassessment of credit protection for the RM5.0 million of outstanding notes, taking into account unexpected tax liabilities arising at the s...
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