KUALA LUMPUR: RAM Rating Services is closely monitoring the ongoing investigations by Malaysian Anti-Corruption Commission on certain personnel at Sabah Development Bank.
The ratings agency said on Friday that the bank had confirmed the investigation on Thursday and stated it was extending full co-operation to the authorities.
Sabah Development Bank’s business operations will continue as normal.
“We will reassess the ratings when more concrete information becomes available.
“Sabah Development Bank’s ratings incorporate a strong degree of support from the Sabah State Government.
“The bank’s RM1bil MTN Programme (2008/2028) carries an AA1 rating while its various CP/MTN programmes are rated AA1 and P1, respectively. All the long-term ratings have a stable outlook,” said RAM Ratings.
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