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MARC Ratings has assigned a final rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) RM300.0 million Medium-Term Notes (MTN) Programme.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.For full det...
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MARC Ratings has withdrawn its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad. This follows the completion of the legal process to transfer Danajamin’s businesses and undertakings to Bank Pembangunan Malaysia Berhad effective March 1, 2023. Accordingly, bonds/sukuk rated by MARC Ratings that were guaranteed by Danajamin will ca...
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MARC Ratings has assigned final ratings of MARC-1/MARC-1IS to Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion. The ratings outlook is stable.The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft doc...
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MARC Ratings has assigned final ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes and Commercial Papers programme with a combined aggregate limit of RM1.5 billion. The rating outlook is stable.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which...
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MARC Ratings has assigned a final rating of AA-(cg) to Chailease Berjaya Credit Sdn Bhd’s (CBC) Medium-Term Notes (MTN) Programme of up to RM1.0 billion. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited.The rating agency has reviewed the final documentation for the programme and...
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MARC Ratings has assigned preliminary ratings of AA/MARC-1 to Pac Lease Berhad’s Medium-Term Notes (MTN) and Commercial Papers (CP) programme with a combined aggregate limit of RM1.5 billion. The ratings outlook is stable.The assigned ratings factor in the lengthy track record and market position of Pac Lease in the domestic industrial hire purchase sector, its sound asset quality metrics, broad...
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MARC Ratings has affirmed its financial institution (FI) rating of AAA with a stable outlook on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating is driven by CGC’s status as a development financial institution (DFI) with an explicit public policy role, underpinned by the support provided by the government through Bank Negara Malaysia (BNM), its key shareholder with a 78.6% int...
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MARC Ratings has affirmed its financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga) with a stable outlook. Kenanga’s strong market position and lengthy experience in the stockbroking industry remain key rating drivers. Apart from stockbroking, the rating also considers the bank’s improving position in investment and wealth management, and its consiste...
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MARC Ratings has assigned a preliminary rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) proposed RM300.0 million Medium-Term Notes (MTN) Programme.The rating incorporates Singer’s long and profitable track record in selling and financing consumer durables and motorcycles, underpinned by strong operating profit margins. Moderating factors are intense competition partic...
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MARC Ratings has affirmed its financial institution (FI) rating of A+ on MBSB Bank Berhad and concurrently affirmed its A+IS rating on MBSB Bank’s RM5.0 billion Sukuk Wakalah programme. The ratings outlook is stable.MBSB Bank’s sound capitalisation levels and strong support from its ultimate shareholder Employees Provident Fund (EPF) remain key rating drivers. The rating is moderated by MBSB B...
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