The rating reaffirmation reflects the overall financial strength 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 dividends upstreamed by MAA. MAA ma...

MARC has affirmed RCE Premier Sdn Bhd’s (RCEP) ratings of RM45.0 million Fixed Rate Serial Bonds at A and RM50.0 million Underwritten Commercial Papers at MARC-2. The ratings reflect the overcollateralisation (OC) ratio of 1.3 times over the identified eligible receivables (IER) purchased by RCEP maintained at all times; provision for substitution of defaulted IER and/or early settlement with pe...

MARC has affirmed AmMerchant Bank Berhad’s financial strength rating at A+/MARC-1; premised on the Bank’s consistent strong market position in fee-based activities; improvement in the Bank’s asset quality, funding profile and capitalization. Furthermore, the successful listing of the investment banking arm on Bursa Malaysia is expected to increase the profile of the Bank and provide positive...

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 commerci...

MARC has assigned the ratings of A+ to Class A Notes (RM240.0 million); A to Class B Notes (RM120.0 million) and BBB+ to Class C Notes (RM60.0 million) under RCE Advance Sdn Bhd’s (RCEA) (formerly known as Perfect Aspirations Sdn Bhd) proposed Fixed Rate Medium-Term Notes programme (referred to as the Facility). The ratings are a reflection of the three month collateral ratio to be maintained at...

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 managem...

MARC has affirmed Shamelin Bina Sdn Bhd’s (“SBSB”) rating of RM100.0 million Murabahah Medium-Term Notes Issuance Facility (“MMTN”) at A-ID. The rating 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;...

MARC has reaffirmed the short-term rating at MARC-2 and concurrently upgraded the long-term rating from A- to A 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 banking and finance envi...

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 divi...

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 listing on Bur...