Malaysian Rating Corporation Berhad (MARC) is pleased to announce the signing of a Memorandum of Understanding (MOU) with Saigon Phat Thinh Ratings Joint Stock Company (Saigon Ratings). This strategic partnership aims to foster mutually beneficial collaborations between MARC’s subsidiary, MARC Ratings Berhad, and Saigon Ratings, promoting common interests and enhancing credit rating practices in the region.
Saigon Ratings, Vietnam's first independent domestic credit rating agency (CRA), has been licensed by the country’s Ministry of Finance since 2017. The agency provides credit rating services to domestic issuers, including financial institutions such as commercial banks, securities companies, investment funds, insurance companies (both life and non-life) and financial companies. Additionally, Saigon Ratings evaluates corporate systems and debt instruments, including bonds, loans, project finance, green bonds and ESG assessments.
Datuk Jamaludin Nasir, Group Chief Executive Officer of MARC, stated, “This collaboration will open doors for both parties to work together to expand existing networks and develop the regional credit rating landscape. We hope to pursue initiatives that will bring sustainable impact to the financial industry.”
Phung Xuan Minh, Chairman of Saigon Ratings, added, “The cooperation between Saigon Ratings and MARC is of great importance. MARC is a reputable brand with a long history and extensive experience operating in credit ratings and other fields in Malaysia's financial market from 1996 to the present. Based on the MOU signed by both parties, MARC and Saigon Ratings will jointly explore, cooperate extensively, and take advantage of business development opportunities in the Vietnamese financial market, that is very young yet has much potential and long-term development prospects.”
This MOU will enable MARC Ratings and Saigon Ratings to leverage each other’s strengths and expertise in brand presence, credit rating knowledge, and local business environment proficiency. The partnership aims to capitalise on synergies and opportunities to develop and implement innovative credit rating solutions tailored to meet the evolving needs of customers and stakeholders. Additionally, there is potential to explore joint efforts in areas beyond credit ratings.
