Malaysian Rating Corporation Berhad (MARC) today honoured leading capital market performers and recognised outstanding sustainable finance achievements at the MARC Lead Managers' League Table Awards 2025, held at Hilton Kuala Lumpur. The annual awards recognise lead managers based on the volume and number of bond and sukuk issuances rated by MARC Ratings during the calendar year.
CIMB Investment Bank Berhad emerged as the winner in both the Issue Value and Issue Count categories. Maybank Investment Bank Berhad and HSBC Bank Malaysia Berhad were recognised for their strong performance, ranking second and third respectively in both categories.
The event also featured the presentation of two special awards by MARC Solutions in recognition of significant achievements in sustainable finance.
The Most Innovative Sustainable Finance Assessment 2025 was awarded to Sunway Iskandar Development Sdn Bhd, with Alliance Bank Malaysia Berhad recognised as the arranger bank.
The award recognises an assessment that represents a significant advancement in sustainability evaluation. Moving beyond traditional asset-level assessments, the exercise adopted a township-wide approach that considered the interaction of environmental, social and infrastructure systems. Key sustainability dimensions, including water management, energy and mobility infrastructure, biodiversity preservation, public safety and liveability, were assessed as part of an integrated ecosystem. The assessment also recognised the broader impacts extending beyond financed assets to surrounding communities, municipal systems and future residents, demonstrating a more holistic and place-based approach to sustainable finance assessment.
The Sustainable Finance Trailblazer Award 2025 was presented to SD Guthrie Berhad, with CIMB Investment Bank Berhad recognised as the arranger bank.
The award acknowledges one of the most ambitious and impactful sustainability finance assessments undertaken by MARC Solutions during the year. SD Guthrie’s integrated financing framework combined multiple sustainable finance instruments with sustainability-linked features, reflecting an enterprise-wide commitment to sustainability. The assessment stood out for its scale, complexity and potential impact, encompassing sustainability objectives across climate action, operational efficiency, supply chain governance and workforce considerations. Given SD Guthrie’s extensive operational footprint, the sustainability commitments assessed have the potential to generate meaningful outcomes across communities, supply chains, environmental stewardship and broader sectoral transition efforts.
Speaking at the event, MARC Group Chief Executive Officer Arshad Mohamed Ismail said the achievements of the award recipients reflected the continued strength and evolution of Malaysia’s capital market.
“Today’s award recipients exemplify excellence and leadership within Malaysia’s debt capital market. Through their expertise, commitment and ability to deliver innovative financing solutions, they have played an important role in supporting issuers, facilitating capital formation and strengthening Malaysia’s position as a leading bond and sukuk market,” he said.
Arshad noted that Malaysia’s capital market continued to demonstrate resilience despite an increasingly complex global environment, reaching new milestones and reinforcing its role as a key platform for financing economic growth and development.
“The capital market remains a critical enabler of long-term growth. Investment banks and lead arrangers play an essential role in connecting capital with opportunity, supporting businesses, infrastructure development and national priorities. Their contributions help ensure that the market remains dynamic, resilient and capable of meeting the evolving financing needs of the economy,” he said.
Commenting on the special award recipients, Arshad said the recognition reflected the increasing sophistication of sustainable finance and the growing emphasis on delivering measurable and meaningful impact.
“What distinguishes this year’s special award recipients is their willingness to push boundaries and explore new approaches in sustainable finance. Their achievements demonstrate that sustainability is no longer a niche consideration but an increasingly important element of strategic decision-making and long-term value creation,” he said.
“Sunway Iskandar Development’s assessment represents an important evolution in how sustainability impacts can be evaluated, moving beyond individual assets to consider entire communities and interconnected systems. It demonstrates how a broader, place-based perspective can provide a more comprehensive understanding of sustainability outcomes.”
“SD Guthrie’s achievement reflects the scale of ambition that is increasingly required to drive meaningful sustainability outcomes. By embedding sustainability commitments within an integrated financing framework, the company has demonstrated how financing structures can support long-term transition objectives while delivering tangible economic, social and environmental benefits,” he added.
As MARC celebrates its 30th anniversary this year, Arshad reaffirmed the organisation’s commitment to supporting the continued development of Malaysia’s capital market.
“For three decades, MARC has had the privilege of growing alongside Malaysia’s capital market and contributing to its development through independent assessments, analytical rigour and market insights. As the market continues to evolve, we remain committed to supporting transparency, investor confidence and innovation across the financial ecosystem.”
“On behalf of MARC, I extend my heartfelt congratulations to all award recipients. Your achievements have not only strengthened your respective institutions but have also contributed meaningfully to the continued growth, innovation and development of Malaysia’s capital market,” he said.
Award Recipients
Issue Value
- Winner: CIMB Investment Bank Berhad
- First Runner-Up: Maybank Investment Bank Berhad
- Second Runner-Up: HSBC Bank Malaysia Berhad
Issue Count
- Winner: CIMB Investment Bank Berhad
- First Runner-Up: Maybank Investment Bank Berhad
- Second Runner-Up: HSBC Bank Malaysia Berhad
Special Awards
Most Innovative Sustainable Finance Assessment 2025
- Recipient: Sunway Iskandar Development Sdn Bhd
- Arranger Bank: Alliance Bank Malaysia Berhad
Sustainable Finance Trailblazer Award 2025
- Recipient: SD Guthrie Berhad
- Arranger Bank: CIMB Investment Bank Berhad