APART from the equity capital market, the debt capital market has long been an important source of financing for the private sector. For the first 10 months of 2006, private debt securities (PDS) (excluding Cagamas bonds) amounting to RM23.8bil were raised by the private sector in Malaysia compared with RM35.7bil for the whole of 2005.
Similar to recent years, the biggest private sector issuers of PDS were the finance, insurance, real estate, business services and construction sectors. These sectors accounted for more than 64% of the total amount raised for the first 10 months of last year.