MARC has upgraded AmMerchant Bank Berhad’s (AmMerchant) financial institution rating to A and reaffirmed its short term rating at MARC-1 based on the bank’s market position, greater focus on fee-based and investment banking activities, improvement in the bank’s asset quality following the resolution of the bulk of its legacy problem loans, and its improved funding profile. These strengths w...

MARC has assigned a rating of A-ID (A Minus, Islamic Debt) to Shamelin Bina Sdn Bhd’s (SBSB) Murabahah Medium-Term Notes Issuance Facility (MMTN) of up to RM100 million. The rating assigned to SBSB’s MMTN reflects the holding company’s, Koperasi Shamelin Berhad’s (KSB) satisfactory asset quality arising from the collection arrangement with ANGKASA (Angkatan Koperasi Kebangsaan Malaysia Ber...

The ratings affirmation at A (A flat)/ MARC-1 reflect the Bank’s strategic importance in the development of Islamic banking as a viable alternative to the conventional banking system, further supported by a solid liquidity position, healthy capital base and sound management. These positives are however moderated by the Bank’s asset performance, which led to low profitability and efficiency me...

The long-term and short-term issuer ratings of Cagamas Berhad (Cagamas) have been reaffirmed at AAA and MARC-1 respectively. This reflects the strong ability and flexibility of the Company to meet its financial commitments, the favorable portfolio of loans and debts with full recourse to the selling institutions, strong capitalization and a proactive and innovative management team. As the country�...

The rating affirmation of Pembangunan Leasing Corporation’s (PLC)’s Guaranteed Notes reflects the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) which carries a rating of A from MARC. PLC’s financial performance has shown improvement for the past five years with increasing pre-tax profit since 1998. MARC’s main c...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the rating of MAA Holdings Berhad RM120 million nominal amount six-year structured serial bonds.The rating reaffirmation reflects the financial strength of the general and life insurance funds of its main subsidiary Malaysian Assurance Alliance Berhad (MAA) and the support provided by a Revolving Credit Facility to meet coupon payment and b...

Bumiputra-Commerce Bank Berhad’s (BCB) Financial Institution rating has been affirmed at A+ (single A plus) / MARC-1 and its detachable coupons of the RM667 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A (single A flat). The rating of the detachable coupons reflects their subordination while the Financial Institution rating reflects the bank’s strong m...

Malaysian Rating Corporation Berhad (MARC) has affirmed the long-term issuer rating of AAA and short-term issuer rating of MARC-1 to Cagamas Bhd (Cagamas), following the review of Cagamas’ performance for financial year ended 31st December 2001.Cagamas’ ratings reflect the strong ability and flexibility of the Company to meet its financial commitments, the favorable portfolio of loans and debt...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM200 million 1-year Cagamas (discount) Notes and long-term rating of AAA to Cagamas Berhad’s RM395 million 5-year fixed rate Cagamas Bonds issued on 12 September, 2002. The 1-year Notes and 5-year Bonds carry an average discount rate of 2.78% p.a. and an average coupon rate of 3.253% p....

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM685 million 1-month (discount) Notes and RM300 million 3-month (discount) Notes issued on 16 August, 2002. The 1-month and 3-month Notes carry an average discount rate of 2.715% p.a. and 2.732% p.a. respectively. The Notes are issued to fund the purchase of mortgage loans from financial ...