Arshad Mohamed Ismail, Group Chief Executive Officer of Malaysian Rating Corporation Berhad (MARC) (centre, pink tie), and Rajan Paramesran, Chief Executive Officer of MARC Ratings Berhad (centre, red tie), pictured with the winners at MARC's Lead Managers’ League Table Awards 2024, held at The Majestic Hotel Kuala Lumpur today.
Malaysian Rating Corporation Berhad (MARC) celebrated top capital market performers at its Lead Managers’ League Table Awards 2024, held earlier today at The Majestic Hotel Kuala Lumpur.
The league tables, published annually, evaluate lead managers based on the volume and number of lead-arranged issuances rated by MARC Ratings in a specific year. This year’s event recognised lead managers that had demonstrated outstanding achievements in the domestic bond and sukuk markets based on MARC Ratings–rated transactions in 2024. The event also saw the presentation of an award for innovation in sustainable finance.
AmInvestment Bank Berhad emerged as the leader in the Issue Count category, topping the list for the number of lead-arranged debt and sukuk programmes rated by MARC Ratings. CIMB Investment Bank Berhad and Maybank Investment Bank Berhad tied for the first runner-up position, while Hong Leong Investment Bank Berhad, HSBC Amanah Malaysia Berhad, Alliance Islamic Bank Berhad, RHB Investment Bank Berhad, and United Overseas Bank (Malaysia) Berhad shared the second runner-up ranking.
In the Issue Value category, Maybank Investment Bank Berhad clinched the top position for the total value of rated transactions arranged. AmInvestment Bank Berhad and CIMB Investment Bank Berhad were named first and second runners-up.
A special award — the Most Innovative Sustainable Finance Deal Award — was presented to Johor Plantations Group Berhad and its principal advisor and lead arranger, Maybank Investment Bank Berhad. The award recognises the RM1.35 billion sustainability-linked Sukuk Wakalah, the first of its kind by a plantation company, issued in conjunction with Johor Plantations Group’s successful debut on the Main Market of Bursa Malaysia in July 2024. Sustainability remains close to MARC’s business direction, and the organisation continues to support the development of innovative financial structures that align with environmental, social and governance (ESG) principles.
Speaking at the event, MARC Group Chief Executive Officer Arshad Mohamed Ismail highlighted the vital role of lead arrangers in the economy. “Lead arrangers help fuel economic growth through the raising of capital in both the conventional and Islamic capital markets,” he said. “Malaysia’s capital market reached a record high of RM4.2 trillion in 2024, with bonds and sukuk making up half that value. This growth reflects the strength and resilience of our financial system. It also underlines the essential role of fixed income instruments in financing businesses, infrastructure, and national development.”
Arshad acknowledged global developments that are shaping the investment climate, particularly in advanced economies. “Major economies such as the US and Europe are beginning to loosen their monetary policies,” he said. “However, the pace and extent of these moves will depend on their respective inflationary conditions. These shifts could influence liquidity flows into emerging markets like ours, offering both opportunities and risks.”
Commenting on Johor Plantations Group Berhad’s win, Arshad said, “Their sukuk issuance sets a strong precedent in sustainable finance and reflects the direction in which the capital market is heading — one that is increasingly aligned with ESG principles.”
“I would like to extend my heartiest congratulations to all the award recipients today. Your performance and contributions have not only enhanced the growth of your institutions but also contributed to the deepening of the Malaysian capital market,” Arshad concluded.