29 Apr 2025
Cagamas Group Reports Strong 2024 Performance, Reinforces Commitment to Sustainable Home Financing
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Kuala Lumpur, 29 April 2025 – Cagamas Holdings Berhad ("the Group") announces a robust financial performance at its 18th Annual General Meeting for the year 2024. This was amidst challenges in domestic market conditions and uncertainties in the global economy.
The Group recorded a pre-tax profit of RM477.7 million, continuing a positive financial trajectory since 2021 coupled with improvements across key financial indicators. The Group's Total Capital Ratio (TCR) rose to 50.5% from 43.1% in 2023, reinforcing its strong capital position and creditworthiness. Overall performance of the Group was bolstered by better contributions from Cagamas Berhad (RM310.9 million), Cagamas MBS Berhad (RM118.2 million), and Cagamas SRP Berhad (RM48.6 million).
The Group continues to deliver its mandate which is to provide liquidity support to financial institutions. In 2024, RM13.0 billion of funding under its Purchase with Recourse ("PWR") programme was provided to financial institutions, with RM3.5 billion being allocated to sustainable PWR assets. This is in line the Group's goal of having 10% of total assets classified as sustainable and green by 2030, in line with its Environmental, Social, and Governance ("ESG") agenda.
The Group also maintained its significant position in the Malaysian capital markets, raising RM21.3 billion through bonds, sukuk, and money market instruments. Notable issuances included RM290 million in short-term Islamic debt securities with a social label and a RM50 million Social Repo Agreement aimed at financing Small and Medium Enterprises ("SMEs").
"As we build on the momentum of our 5-year strategic plan which is to focus on strengthening profitability and expand product offerings, we continue to reinforce our role as a key funding intermediary for the housing sector. We are also committed to balancing growth with robust risk management and capital adequacy." said Group Chairman, Dato' Bakarudin Ishak.
The Group continues to broaden access to sustainable, green, and affordable housing through innovative products such as reverse mortgages, SME-focused funding, and guarantees for energy-efficient retrofitting. Plans are also underway to introduce fixed-rate financing and develop national green housing standards in collaboration with industry stakeholders.
To accelerate its ESG objectives, Cagamas is deepening its regional and global partnerships with financial institutions and supranational organisations. These efforts will support knowledge sharing and advocacy for the continued growth of Malaysia's housing finance ecosystem.
"As we move forward, we remain steadfast in our mission to embed ESG into every aspect of our operations while continuing to deliver value to stakeholders," Dato' Bakarudin added. "We thank our investors, partners, and stakeholders for their continued trust as we lead Malaysia's transition towards sustainable home financing."
The Group recorded a pre-tax profit of RM477.7 million, continuing a positive financial trajectory since 2021 coupled with improvements across key financial indicators. The Group's Total Capital Ratio (TCR) rose to 50.5% from 43.1% in 2023, reinforcing its strong capital position and creditworthiness. Overall performance of the Group was bolstered by better contributions from Cagamas Berhad (RM310.9 million), Cagamas MBS Berhad (RM118.2 million), and Cagamas SRP Berhad (RM48.6 million).
The Group continues to deliver its mandate which is to provide liquidity support to financial institutions. In 2024, RM13.0 billion of funding under its Purchase with Recourse ("PWR") programme was provided to financial institutions, with RM3.5 billion being allocated to sustainable PWR assets. This is in line the Group's goal of having 10% of total assets classified as sustainable and green by 2030, in line with its Environmental, Social, and Governance ("ESG") agenda.
The Group also maintained its significant position in the Malaysian capital markets, raising RM21.3 billion through bonds, sukuk, and money market instruments. Notable issuances included RM290 million in short-term Islamic debt securities with a social label and a RM50 million Social Repo Agreement aimed at financing Small and Medium Enterprises ("SMEs").
"As we build on the momentum of our 5-year strategic plan which is to focus on strengthening profitability and expand product offerings, we continue to reinforce our role as a key funding intermediary for the housing sector. We are also committed to balancing growth with robust risk management and capital adequacy." said Group Chairman, Dato' Bakarudin Ishak.
Leading ESG Transformation in Housing Finance
Cagamas continues to place priority in sustainable finance with the issuance of RM1.2 billion in green and sustainability-linked bonds and sukuk in 2024, responding to rising investor interest in ESG assets.The Group continues to broaden access to sustainable, green, and affordable housing through innovative products such as reverse mortgages, SME-focused funding, and guarantees for energy-efficient retrofitting. Plans are also underway to introduce fixed-rate financing and develop national green housing standards in collaboration with industry stakeholders.
To accelerate its ESG objectives, Cagamas is deepening its regional and global partnerships with financial institutions and supranational organisations. These efforts will support knowledge sharing and advocacy for the continued growth of Malaysia's housing finance ecosystem.
"As we move forward, we remain steadfast in our mission to embed ESG into every aspect of our operations while continuing to deliver value to stakeholders," Dato' Bakarudin added. "We thank our investors, partners, and stakeholders for their continued trust as we lead Malaysia's transition towards sustainable home financing."
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