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 favorable portfolio of loans and debts with full recourse to the selling institutions, its strong capitalization and a proactive management team. As the...

The ratings reaffirmation reflect the Bank’s strategic importance in the development of Islamic banking as a viable alternative to the conventional banking system coupled with the consistent double digit growth in its financing assets, supported by a solid liquidity and strengthening profitability position. These positives are, however, moderated by the Bank’s asset performance, which affecte...

Pembangunan Leasing Corporation Sdn Bhd’s (PLC)’s Guaranteed Notes Issuance Programme (GNIP) ratings of MARC-1(bg)/A(bg) are reaffirmed to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB). BPIMB’s A rating from MARC which is higher than PLC’s stand-alone corporate debt rating, reflects its strategic imp...

MARC has affirmed the short-term and long-term ratings of Hong Leong Credit Berhad’s (HLC) commercial papers and Medium-Term Notes programme at MARC-2 and A- respectively. This reflects the strong fundamentals of HLC’s subsidiaries as well as the improved double leverage and stable debt-equity. The rating is moderated by the competitive banking and finance environment and the potential limitat...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the rating of MAA Holdings Berhad’s (MAAH) RM120 million nominal amount six-year structured serial bonds at A-.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 the Revolving Credit Facility to meet c...

Bumiputra-Commerce Bank Berhad’s (BCB) Financial Institution rating has been affirmed at A+/MARC-1 and its detachable coupons of the RM667 million nominal value Irredeemable Convertible Unsecured Loan Stocks (ICULS) rating at A. The Financial Institution rating reflects the bank’s strong market position in Malaysia, moderated by its somewhat weaker market position in the higher yielding consum...

MARC has upgraded the long-term rating of Commerce Asset-Holding Berhad (CAHB) to A+ (single A plus). This reflects the strengthened credit standing of the CAHB Group, which benefited from the strong franchise of its core subsidiaries; a better performance by its commercial banking subsidiary; the improvement in its overall asset quality; a low gearing level; and a proactive management. The rating...

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...