Group Financial Highlights
View PDFRM 2,335.9MILLION
RM 447.8MILLION
RM 57,842.1MILLION
RM 7,148.7MILLION
220.1SEN
RM47.6
4.7%
0.6%
Key Highlights in 2023
View PDFLIQUIDITY PROVISION
Purchase with Recourse
RM20.5 billion
New record high for PWR annual purchase
Purchase without Recourse
RM51.8 million
First PWOR transaction since 2017 and the first with a financial institution
Capital Management Solutions
RM465 million
Subscription of subordinated debt issued by financial institutions
MORTGAGE GUARANTEE PROGRAMME
Cumulative amount of guarantee under SRP*
RM2,568 million
Cumulative number of loans and financing approved under SRP*
101,736
Percentage of borrowers from the B40 segment under SRP*
88.3%
*SRP refers to Skim Rumah Pertamaku, a scheme launched in March 2011 under Cagamas SRP Berhad. This scheme has been discontinued effective 1 April 2023.
REVERSE MORTGAGE PROGRAMME
Over 21 targeted roadshows & awareness programmes
34 Loans cumulatively approved for senior home owners
50%
Approval rate of the total application
ISSUANCE AND FUND RAISING
Total Fundraising
RM29.3 billion
Highest fundraising on record
Market Share
Ranked 1st
Most issued local corporate bonds and sukuk in 2023
Green Issuance
RM300 million
Inaugural issuance of ASEAN Green Bond and ASEAN Green SRI Sukuk
2023 Year in Review
Our Business Imperatives
View PDF
Financial Capital
To encourage home ownership through liquidity provision to financial institutions, our business and operations are supported by:
- Shareholders’ fund of RM7.1 billion and robust capital with Group Total Capital Ratio of 53.8%
- Credit strength with global rating of A3 by Moody’s and local ratings of AAA by RAM Ratings and MARC Ratings, enabling access to competitvely priced funding sources
Human Capital
Our 101 employees are the heartbeat of our organisation. We prioritise their growth by investing in their learning and development and craft a positive environment to drive them towards a culture of excellence, encapsulated by our Core Values, C.A.R.E (Collaboration, Accountability, Resilience and Excellence)
Social & Relationship Capital
Continuously strengthen relationships with stakeholders to fulfil our mandates and empower communities to build long-term positive societal impact via:
- Contribution of RM1.7 million towards community engagement initiatives
- Broadening access to housing finance solutions through our inclusive mortgage guarantee and reverse mortgage programmes
- Regular engagements with policymakers, regulators and strategic alliances at regional and global secondary mortgage market platforms
Natural Capital
Partnering stakeholders transition to net-zero and encouraging the growth of green home loans and financing through issuance of green bonds and sukuk and establishment of Cagamas green homes framework
Intellectual Capital
Our intellectual capital are our values, principles and standards that drives our behaviour and linked to our branding and credibility. These are built on:
- Developed risk management practices to attain optimum returns whilst operating within a sound business environment
- Digital strategy to modernise infrastructure, digitalise product journey, enhance cybersecurity and achieve cost-efficiency to ensure long-term business sustainability
WHAT WE DO
Liquidity Provision and Securitisation
Mortgage Guarantee Programme
Reverse Mortgage
Treasury and Fund Raising
OUR SUSTAINABILITY PILLARS
Promote Sustainable Home Ownership
Employer of Choice
Positive Societal Impact
Positive Environmental Impact
SUPPORTED BY OUR CORE VALUES
TOTAL FINANCING ASSETS
RM51.7 billion
(+18.9% YoY)
TOTAL FUNDING OUTSTANDING
RM48.9 billion
(+18.7% YoY)
TOTAL ASSETS
RM57.8 billion
(+15.8% YoY)
TOTAL LIABILITIES
RM50.7 billion
(+17.4% YoY)
NET OPERATING INCOME
RM532.1 million
(+3.0% YoY)
NET PROFIT
RM330.1 million
(-1.6% YoY)
Customers
- Purchased home financing in the secondary market totalling RM20.5 billion in 2023, equivalent to a total of 59,230 homes
- Further expansion of housing finance with mortgage market share at 5.4%
- Encouraged first-time home ownership via Skim Rumah Pertamaku (SRP) with total guarantee provided of RM289 million in 2023, benefitting 10,922 first-time home owners
- Continued to promote the Reverse Mortgage schemes (Skim Saraan Bercagar and Skim Saraan Bercagar Islamik) through 21 roadshows and awareness programmes
Employees
- Equipped employees with 2,081 hours spent on learning and development, an average of 24 hours per employee, with training cost of RM0.2 million
Investors
- Continued to promote Cagamas as the preferred investment choice through non-deal Asian regional roadshows in Singapore, Hong Kong, Japan and Korea
Communities
- Mobilised over RM1.2 billion of Sustainable Finance including RM825 million for affordable housing, RM300 million for green homes and RM100 million for non-carbon emitting industrial hire purchase receivables
- Impacted the lives of 18,523 recipients through Corporate Social Responsibility initiatives and Zakat distribution
- 41 scholars benefitted from the Cagamas Scholarship Programme since 2016
- Signed Memorandum of Understanding with Hong Kong Mortgage Corporation and Mortgage Refinancing Company of Uzbekistan for collaboration and exchange of knowledge in secondary mortgage industry
Regulators and Government
- Adhered to best-in-class practices to safeguard our assets
- Complied with regulations to mitigate systemic risk
FUTURE DIRECTION: 5-YEAR STRATEGIC PLAN (2024-2028)
CAGAMAS HOUSE OF THE FUTURE
OUR ASPIRATION
The preferred market liquidity provider and centre of excellence in the housing finance ecosystem
Sound Controls and Operational Excellence supported by Best-in Class Information Technology (IT) Infrastructure
Sustainability Report
View PDFPillar 1: Promote Sustainable Home Ownership
FY2023 Achievement and Progress
- Facilitating All Malaysians to Achieve Successful Home Ownership
Purchased home financing in the secondary market totalling RM20.5 billion, equivalent to a total of 59,230 homes
- Enabling Access to Home Financing for Low-to-Middle Income Groups
Provided mortgage guarantees to 110,339 individuals/households to own their first house through Skim Rumah Pertamaku (SRP) and Skim Perumahan Belia (SPB) since 2011; of which 87.0% are from the B40 segment
- Supporting the Growth of Affordable Homes through Sustainability Issuances
To date, Cagamas has cumulatively issued a total of RM3.7 billion of sustainability bonds and sukuk since 2020 with RM3.2 billion outstanding as of 31 December 2023
The proceeds from the issuances have been primarily allocated to eligible assets in line with the Cagamas’ Sustainability Bond and Sukuk Framework, of which, 85.8% of the proceeds were channelled to affordable housing
Pillar 2: Employer Of Choice
FY2023 Achievement and Progress
THE TALENTS BEHIND CAGAMAS
Comprise of the following gender composition, age group and employment duration in Cagamas:
-
2,081 hours spent on learning and development, an average of 24 hours per employee -
Mission-critical successors who are “ready” currently stands at 56% and RM0.2 million training invested to increase readiness percentage -
Six (6) final-year students from universities all over Malaysia were selected for the Cagamas Internship Programme -
Encourage further work flexibility through weekly work from home arrangement and launched the inaugural annual Human Capital Month
Pillar 3: Positive Societal Impact
FY2023 Achievement and Progress
- Impacted the lives of 18,523 recipients in 2023 through our Corporate Zakat Wakalah Programme (ZWP) and Corporate Social Responsibility (CSR)
- Contributed approximately RM1 million to scholarships for 41 scholars since 2016
- Over 21 targeted roadshows and awareness programmes to promote the reverse mortgage scheme
- Purchased RM100 million of non-carbon emitting industrial hire purchase receivables, benefitting 502 Small Medium Enterprises (SMEs)
Pillar 4: Positive Environmental Impact
FY2023 Achievement and Progress
- Channelling Liquidity Towards Green Projects
Mobilised RM300 million towards green housing loans and financing, which marked our first-ever Green asset purchase via Purchase with Recourse (PWR)
- Kick-off Cagamas Net Zero Initiative
Admission to Joint Committee on Climate Change (JC3) Sub-Committee 3 (SC3) on Product & Innovation
