KUALA LUMPUR: Cagamas Bhd has concluded the year with total funds raised of RM24.9bil, about 30% higher than in 2021 and the highest raised since 1999.
"This marks a strong ending to an eventful year for the Company," said Cagamas president and CEO Datuk Chung Chee Leong in a statement.
In the same statement, he announced the successful conclusion of its multitenured Conventional Medium Term Notes and Islamic Medium Term Notes amounting to a total of RM3.195bil.
Cagamas, which is the national mortgage corporation of Malaysia, said the proceeds from the issuances will be used to fund the purchase of housing loans and house financing from the domestic financial system.
It said the papers will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu with all other existing unsecured obligations of the company
“Going forward, despite the continued challenging global environment, Cagamas remains committed towards its efforts in fulfilling its mandate as a financial intermediary between the capital market and the Malaysian housing sector," said Chung.
