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MARC Ratings has assigned a "Gold" Impact Assessment to Bank Kerjasama Rakyat Malaysia Berhad’s (Bank Rakyat) Sustainability Sukuk Framework. The framework has been established to set the guiding principles for Bank Rakyat’s issuance of Sustainability Sukuk for eligible projects that contribute towards environmental and social benefits.Bank Rakyat is the largest Islamic cooperative bank in Mal...
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MARC Ratings has assigned a preliminary rating of MARC-1 to Merchantrade Asia Sdn Bhd’s (Merchantrade) proposed Multi-Currency Commercial Papers (CP) Programme of up to RM200 million in nominal value. The rating is confined to ringgit-denominated issuance under the proposed programme, with the initial drawdown expected to be around RM50 million to RM70 million. The rating incorporates Merch...
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MARC Ratings has withdrawn its financial institution ratings of AAA/MARC-1 on Islamic Development Bank (IsDB), as well as its AAAIS rating on the Sukuk Wakalah Programme of RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The ratings withdrawal follows the expiry of the programme as confirmed by the facility agent on June 28, 2024. Accordingly, MARC Ratings ...
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MARC Ratings has affirmed its AA+/MARC-1 financial institution (FI) ratings on China Construction Bank (Malaysia) Berhad (CCBM) with a stable outlook.The long-term FI rating of AA+ is notched down from the AAA FI rating of its parent, China Construction Bank Corporation (CCB). The one-notch rating differential is in line with MARC Ratings’ notching criteria that considers CCBM as a strategically...
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MARC Ratings has withdrawn its rating of A+IS on Bank Muamalat Malaysia Berhad’s RM2.0 billion Senior Sukuk Programme. The rating withdrawal follows the termination of the programme as confirmed by the facility agent on April 23, 2024. MARC Ratings’ analytical coverage on Bank Muamalat’s issuance is now limited to the bank’s RM5.0 billion Sukuk Wakalah Programme.Contacts:Fahmi Hawari,...
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MARC Ratings has affirmed its financial institution rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating considers the government’s 78.6% ownership of CGC through Bank Negara Malaysia as well as CGC’s key public policy role focused on facilitating access to financing for micro, small and medium-sized enterprises (MSME...
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MARC Ratings has affirmed its financial institution rating of A+ on MBSB Bank Berhad as well as its A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. The ratings outlook is stable.The ratings affirmation reflects MBSB Bank’s sound capitalisation and the rating agency’s expectation of continued support to the bank from major shareholder Employees Provident Fund (...
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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. The ratings reflect Kenanga’s strong market position and lengthy experience in the domestic stockbroking industry. The ratings further consider the investment bank’s improving position in the investment and wealth management segment as well as it...
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MARC Ratings has affirmed its ratings of AA/MARC-1/Stable on Pac Lease Berhad’s Medium-Term Notes (MTN) Programme and Commercial Papers (CP) Programme with a combined limit of RM1.5 billion.The ratings continue to reflect the company’s long track record, strong market position in the domestic industrial hire purchase industry, sound asset quality and good profitability. The long-term rating al...
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MARC Ratings has affirmed its rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). The rating considers CBC’s strong operating trajectory, which demonstrates ...
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