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...

MARC has assigned ratings of A/MARC-2 to RCE Premier Sdn. Bhd.’s (RCEP) RM45 million 5-year fixed rate serial bonds and up to RM50 million 7-year underwritten commercial paper facility. The ratings assigned to RCE Premier Sdn Bhd’s (RCEP) proposed Bonds and CP programme (referred to as the Facilities) reflect the 1.3 times security cover of receivables purchased by RCEP to be maintained at al...

MARC has upgraded Bumiputra-Commerce Bank Berhad’s (BCB) Financial Institution rating to AA-/MARC-1 and its detachable coupons of the RM667 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating to A+. The upgrades reflect the continued improvement in the last several years in the bank’s financial standing and overall asset quality. These improvements were achieved...

MARC has affirmed the long-term rating of Commerce Asset-Holding Berhad (CAHB) at A+. This reflects the firm credit standing of the CAHB Group, which benefits from a strong franchise of its core subsidiaries; improving overall Group-wide earnings and asset quality; continuous efforts to keep gearing at bay and a proactive management. The rating however is constrained by the Group’s exposure to t...