RAM Ratings monitoring MACC probe at Sabah Devt Bank

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.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

CMMT's investment mandate expansion gets unitholders' nod
Palm oil ends at over 4-month low on weaker soyoil, sliding demand
Kawan Food suspends factory operations for a week due to Covid-19�
Powerwell wins RM8.8mil supply contract in Bangladesh
FBM KLCI rebounds on stronger buying interest
Citi Malaysia continues repayment help for pandemic-hit customers
Registrations open for 4th Selangor Accelerator Programme
Indonesia aims to sell only electric-powered cars, motorbikes by 2050
Solar PV firm Pekat Group's public offer shares oversubscribed 76 times
AmBank launches fully end-to-end digital onboarding for SMEs

Stories You'll Enjoy