KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) achieved total revenue of RM25.74 million in the financial year ended December 31, 2023, a 5.3 per cent increase compared to the previous year.
Chairman Tan Sri Nik Norzrul Thani Nik Hassan Thani said the revenue growth of the financial services provider was primarily driven by an 8.6 per cent increase in existing rating revenue, totalling RM18.12 million compared to RM16.69 million in the previous period.
"These robust financial results underscore the trust placed by the financial community, including investors and stakeholders, in MARC's business lines," he said in an annual general meeting earlier today.
In 2023, MARC Ratings was named Best Islamic Rating Agency 2023 at the 13th Global Islamic Finance Awards.
"MARC remains steadfast in delivering value to our clients while fostering a culture of excellence and innovation.
"Throughout the past year, we have made strategic investments in our people, processes, and technology, enhancing operational efficiency and elevating the quality of our products and services," he added.