Home › Business › Business News
Wednesday, 10 July 2013
KUALA LUMPUR: Franklin Templeton Investments and ECM Libra Financial Group Bhd said they favour Malaysian corporate sukuk, which has outperformed, as the Federal Reserve considers ending stimulus.
The yield on sovereign wealth fund Khazanah Nasional Bhd’s 2022 ringgit-denominated sukuk has climbed 25 basis points since May 22, when chairman Ben S Bernanke first signaled a possible halt to the Fed’s debt purchases.
That compares with a 39-basis point increase in similar-maturity Government Islamic bonds and an 83-basis point jump for global sukuk, according to the HSBC/Nasdaq Dubai US Dollar Sukuk Index.
“The corporates would be a better bet at this point in time,” Mohd Fadzil Mohamed, who helps oversee RM3.4bil (US$1.1bil) as chief executive officer at Kuala Lumpur-based Libra Invest Bhd, a unit of ECM Libra Financial, said in a July 5 interview. “The economy is still growing” and that would translate into better company earnings, he said.
Malaysia had the most resilient local-currency bonds in South-East Asia last month, HSBC Holdings Plc indexes show, after Prime Minister Datuk Seri Najib Tun Razak’s May 5 poll victory spurred the Government to refocus efforts on a US$444bil spending programme to achieve developing-nation income levels by 2020. – Bloomberg
Malaysia wins room for new sukuk
Apple sees iCloud attacks; China hack reported
Mobius says M'sian stocks relatively expensive
Yahoo profit surges on Alibaba divestment, mobile
New iPhones deliver big profits for Apple
Brent extends gains at above US$85 as China oil demand rises
CIMB Thai 9-month net profit falls by 6.3% to 900mil baht
We need to do better, says Guardiola after Bayern hit seven
APEC finance chiefs meet amid global worries
Filling the space Between
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)