BPA Malaysia weekly bond market report 25 February 2018
The Index shed marginally by 0.018 per cent to close at 156.625 points from 156.653 points last week.
The MGS yield curve continued to steepen over the week as yields at the five-year to 25-year region inched up by one to five bps while yields at the front end of the curve only added 1bp, following the selloff of US Treasuries after the release of hawkish FOMC minutes on Wednesday.
The minutes revealed that the members of the committee are increasingly convinced on the growth of the US economy in view of tighter labour market and uptick in inflation.
The reserves position is sufficient to finance 7.1 months of retained imports and is 1.1 times the short-term external debt.
The total trade volume for the top 10 bonds amounted to MYR4.5 billion.
Thefive-year MGS paper maturing on March 10, 2022 topped the list with RM536 million changed hands.
On February 23, 2018, BNM announced the tender details for the reopening of the RM3.5 billion 10-year benchmark MGS maturing on November 16, 2027.
An additional RM500 million will be privately placed.
The tender will close on February 27, 2018.
On February 21, 2018, Danainfra Nasional Bhd issued five Islamic Medium Term Notes (IMTN) with total issuance size of MYR4 billion.
The seven-year, 15-year, 20-year, 25-year and 30-year government guaranteed IMTNs carry profit rates ranging from 4.37 to 5.36 per cent.
On February 23, 2018, AmBank (M) Bhd issued a 10-non-call-5-year MTN with an issuance size of RM175 million.
The MTN carries a coupon rate of 5.230 per cent and is rated AA3 by RAM Ratings with stable outlook.
AmBank Islamic Bhd issued a 10-non-call-5-year IMTN with an issuance size of MYR150 million.
The IMTN carries a profit rate of 5.230 per cent and is rated AA3 by RAM Ratings with stable outlook.
AMMB Holdings Bhd issued a 10-non-call-5-year MTN with an issuance size of MYR325 million.
The MTN carries a coupon rate of 5.230 per cent and is rated A1 by RAM Ratings with stable outlook.
Country Garden Real Estate Sdn Bhd issued a five-year IMTN worth MYR200 million.
The IMTN carries a profit rate of 6.6 per cent and is rated AA3(s) by RAM Ratings with stable outlook.
MKD Kencana Sdn Bhd issued two IMTNs with total issuance size of RM1.2 billion.
The government guaranteed five-year and seven–year sukuk carry profit rates of 4.23 and 4.43 per cent respectively.
WCT Holdings Bhd issued a seven-year IMTN worth RM100 million.
The IMTN carries a profit rate of 5.55 per cent and is rated AA-IS by MARC with stable outlook.
Source: Borneo Post Online