Posted Date : 18 Nov 2014
Malaysian Rating Corporation Berhad (MARC) today held its 2014 CEO Forum at Grand Hyatt Kuala Lumpur which brought together senior executives of prominent corporates and financial institutions in the country to reflect together on how to take credit ratings and the domestic capital markets to the next level in today’s interconnected world.
The opening remarks delivered by MARC’s Chief Executive Officer, Mr. Mohd Razlan Mohamed, recalled the purpose of the event, which is to stimulate and facilitate communication and exchange of meaningful capital market insights. “With the increasing sophistication of investors and changes in the way financial products are structured and traded, rating agencies and other capital market intermediaries will have to adapt and add more value to participate in the borderless world of financial services,” Razlan said.
MARC used this platform to spotlight its international venture in the form of Europe-based ARC Ratings, S.A., an alternative global credit rating agency in the international credit rating industry. ARC Ratings, S.A. was represented by its Managing Director/Chief Executive Officer, Mrs. Alexandra Mousavizadeh, who touched on ARC’s unique network-based ownership structure and multi-perspective approach to assigning ratings.
The forum continued with a presentation from MNRB Holdings Berhad’s Head of Research, Mr. Wan Murezani Wan Mohamad, who provided a balanced perspective on the lead and supporting roles played by key capital market participants, including the rating agencies, in the Global Financial Crisis. He also elaborated on the value of credit ratings from an investor’s perspective in well-functioning financial markets.
Mr. Kamarudin Hashim, the Securities Commission’s Director of Markets & Products, meanwhile, offered greater clarity in his presentation on the capital market regulator’s move to liberalise the credit rating sector. The policy change is essentially aimed at strengthening the capacity of rating agencies and capital markets whilst at the same time encouraging market-driven demand for an independent assessment of credit risk, similar to fully developed international financial markets.
Dato’ Steven Wong, Deputy Chief Executive of the Institute of Strategic and International Studies (ISIS) provided an enlightening discourse on Malaysia’s socio-political risks. In today’s interconnected world, rating agencies and investors need to take a holistic approach to analysing world economies and to attach sufficient weight to tensions between political and social trends.
Concluding the day’s proceedings were a panel discussion and question-and-answer session moderated by MARC’s Chief Executive Officer, Mr. Mohd Razlan Mohamed, where the aforementioned speakers exchanged their thoughts and ideas on common topics of interest with the audience.
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