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
Local bio-tech firm working to find algae-based alternative to fossil fuels
Clicking for consumables
To go ahead with Trans-Pacific Partnership or not?
The squeezed middle
Unravelling Felda’s investments
Inequality and the future of economic growth
New direction for Saatchi
Ladies, time to stand up and fight for your man
Looking out for your ears
Messi double, Suarez goal fire Barca rout
Is it safe to take hormone therapy for menopause?
Wikipedia reveals what the world edited in 2014
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)