Malaysia continued to be the most active market with both sovereign and corporate deals closed and launched in April. The largest issue from Malaysia was the third tranche in 2011 of the Government Investment Issue worth MYR3.5 billion (USD1.16 billion). Telekom Malaysia launched an MYR2 billion sukuk program and sold its first tranche of MYR150 million. The bulk of the issue will be used for TM's high-speed broadband project. The latter is in line with the government's 10th Malaysia Plan 2011-2015 which identified broadband as a key economic enabler with the government targeting a 75% penetration rate by 2015 - up 135% from 2010.
The Zawya Sukuk Monitor shows quite a number of Malaysian corporate sukuk in the pipeline, including KPJ Healthcare and Westports Malaysia.
Neighboring Indonesia, which is said to plan a gross bond issuance of over IDR200 trillion (USD23 billion) this year to help plug its budget deficit, issued a good amount of sukuk as well and announced its intention to visit the global market by issuing a USD1 billion sukuk in the second half of the year. (full story)
This came on the heels of a previous announcement last month that the government is planning to sell Islamic T-bills with tenors of three, six, and 12 months, likely at the end of the second quarter. Zawya estimates Indonesia has issued sovereign sukuk worth USD2.17 billion thus far this year.
Source : http://www.zawya.com/story.cfm/sidZAWYA20110503092507 - May 3, 2011
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