Page 3 Finance Asia awards 4 local firms, govt’s bond issue


  • Business
  • Friday, 03 Jan 2003

By B.K. SIDHU

Finance Asia magazine has singled out four Malaysian companies and a global Malaysian bond issue for the best awards in various categories for 2002. 

The five are: the US$600mil Malaysian Global Sukuk issued by the government; Maxis Communications Bhd; Technology Resources Industries Bhd (TRI), now known as Celcom (M) Bhd; Petroliam Nasional Bhd (Petronas); and Projek Lebuhraya Utara Selatan Bhd (Plus). 

The US$600mil Malaysian Global Sukuk issued by the government won the most Innovative Capital Markets Transaction, Most Innovative Bond Deal for last year. HSBC was the arranger. 

Maxis's initial public offering (IPO) was categorised as the best equity deal, best IPO where Maxis raised US$803mil. The advisers were ABN Amro Rothschild, Goldman Sachs, ING, Commerce International Merchant Bankers Bhd and RHB Sakura Merchant Bankers Bhd. 

The offering by TRI won the best secondary offering. The advisers for the deal were CLSA and Libra Capital, part of the ECM Libra Capital Group. 

On the TRI secondary offer, Finance Asia, commented: “At the outset many equity specialists were highly dismissive that debt-laden TRI would be able to complete any kind of deal at all, let alone that would close 1.5 times oversubscribed and now rank as the year's best performing Asian equity deal. 

“Taking the cellular company to the market was a brave undertaking for the lead managers, but one that has reaped significant dividends. Success can be attributed to a clever marketing strategy that has been vindicated by subsequent events.'' 

Petronas won the best bond deal, best investment grade bond deal for its US$2.73bil bond issue. The advisers were Morgan Stanley, Barclays Capital, HSBC and Salomon Smith Barney. 

Plus was awarded the best local currency bond deal for its RM5.1bil Islamic bond issue. The adviser was RHB Sakura. 

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