KUALA LUMPUR, 24 OCTOBER 2016 – Danajamin Nasional Berhad, the country’s First Financial Guarantee Insurer, today announced the appointment of Ariffin Hew as an Independent Non-Executive Director to the Company’s Board of Directors for a term of three years, effective 25th October 2016.
Ariffin who holds a Bachelor of Economics (Honours) degree from the University of Malaya has over 28 years of experience in the banking industry. He had held various Board positions in Insurance, Discount House, Securities Companies and was also an Independent Director of Bank Pembangunan Malaysia Berhad until his resignation on 27 September 2014.
“We are very pleased to welcome Encik Ariffin Hew to our Board of Directors,” said Mohamed Nazri Omar, Chief Executive Officer of Danajamin. “His leadership, insights and broad experience not only in banking but across various industries will definitely benefit Danajamin and continue to advance the company’s position as the nation’s Financial Guarantee Insurer.
Throughout his career, Ariffin has served in Senior Positions in major organisations including Malaysia Resources Corporation Berhad (MRCB), the Bank Bumiputra Group and the RHB Group. He had also been tasked to lead various projects at both the domestic and international front. He actively contributes to the banking industry and is currently a member of the Small Debt Resolution Committee of Bank Negara Malaysia.
For more information about Danajamin, its services as well as its leadership, kindly visit our website at www.danajamin.com
Danajamin Nasional Berhad (Danajamin) is Malaysia’s first and only Financial Guarantee Insurer. Established in May 2009, Danajamin’s objective is to ensure that financially viable corporates continue to be able to access the bond market for their long term financing needs and at the same time, be an enabler to further develop the domestic bond and sukuk market.
To date, Danajamin has provided its guarantee for RM8.8 billion bond/sukuk programmes issued by 30 companies across various sectors; and brought about a market impact of RM15.2 billion through its risk sharing collaboration with partner banks.
Danajamin has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Financial Services Act 2013. Danajamin is equally owned by Minister of Finance Incorporated and Credit Guarantee Corporation Malaysia Berhad.
Today, Danajamin is well positioned to further enable the development of Malaysia’s capital market. Growing from strength to strength, Danajamin’s total assets and shareholders’ equity stands at RM2.0 billion and RM1.5 billion respectively (as at 31 December 2015).